This Is the Sweet Spot Homebuyers Have Been Waiting For

  After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it may not last long. So, if you’ve put your move on the back burner, here’s why maybe you shouldn’t delay your plans any longer. As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?   The truth is, if mortgage rates continue to ease, as experts project, more buyers will jump back into the market. A survey from Bankrate shows over half of homeowners would be motivated to buy this year if rates drop below 6% (see graph below):   With rates already in the low 6% range, we’re not terribly far off from hitting that threshold. The bottom line is, that when they drop into the 5s, the number of buyers in the market is going to go up – and that means more competition for you. That increased demand will likely push home prices up, which could potentially take away from some of the benefits you’d gain from a slightly lower interest rate. As Nadia Evangelou, Senior Economist and Director of Real Estate Research at the National Association of Realtors (NAR), explains:   “The downside of increased demand is that it puts upward pressure on home prices as multiple buyers compete for a limited number of homes. In markets with ongoing housing shortages, this price increase can offset some of the affordability gains from lower mortgage rates.”   So, while waiting to buy may seem like a smart move, it could backfire if rising prices outpace your savings from slightly lower rates.   What This Means for You Right now, you’ve got the chance to get ahead of all of that. Today’s market is a buyer sweet spot. Why? Because a lot of other buyers are waiting – which means not as many people are actively looking for homes. That means less competition for you.   At the same time, affordability has already improved quite a bit. Recent easing in mortgage rates has made homeownership more accessible. As Mike Simonsen, Founder of Altos Research, says:   “Mortgage payments on the typical-price home are 7% lower than last year and are 13% lower than the peak in May 2024.”   And while the supply of homes for sale is still low, it’s also higher than it’s been in years. According to Ralph McLaughlin, Senior Economist at Realtor.com:   “The number of homes actively for sale continues to be elevated compared with last year, growing by 35.8%, a 10th straight month of growth, and now sits at the highest since May 2020.”   This means you now have more options to choose from than you’ve had in quite a while.   With fewer buyers in the market, improving affordability, and more homes to choose from, you have the chance to find the right one before the competition heats up.   Why Waiting Could Cost You If you’re waiting for the perfect time to buy, it’s important to understand that timing the market is nearly impossible. The longer you wait, the higher the risk that market conditions will shift—and not necessarily in your favor. As Greg McBride, Chief Financial Analyst at Bankrate, says:   “It’s one of those things where you should be careful what you wish for. A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”   Bottom Line Don’t wait until you have to deal with more competition and higher prices – you already have the chance to buy a home while we’re in the sweet spot today. Connect with an agent to make sure you’re taking advantage of it.

Miami Beach vs South Beach—What’s the Difference & Where Should You Live?

When looking for an apartment or condo, many people are unsure about the distinction between Miami Beach and South Beach. Where does one start and the other end? For many, South Beach is the vibrant, glamorous, and lively spot they visit for a weekend getaway, but it can also be an incredible place to live—whether renting or buying a condo, depending on your preferences. So, what exactly is Miami Beach? It’s quite straightforward. Miami Beach is a full-fledged city, and South Beach is just one of its neighborhoods. Choosing where to live isn’t about picking one over the other. Instead, it’s about exploring the various neighborhoods within Miami Beach and understanding what makes South Beach stand out, earning its iconic reputation. In this article, we'll delve into both aspects, helping you determine if South Beach is the right neighborhood for your next apartment or condo. — What is the Difference Between Miami Beach and South Beach? To put it simply, Miami Beach is a city in Miami-Dade County and South Beach is a neighborhood within Miami Beach. South Beach begins at the southernmost tip of the island and ends on the north at 23rd St. In addition to their geographical differences, let’s look into other aspects that may sway you from one place to the other when looking for a condo.    — Where to Live in Miami Beach? Miami Beach is a sunny, laid-back subtropical island located just a stone’s throw from the city of Miami across Biscayne Bay. It stretches from South Pointe Park on its southernmost tip to 87th St in the north, and borders with the Atlantic Ocean to the east and Biscayne Bay to the west. With its linear shape, the island naturally lends itself to incredible waterfront living options with stunning views from both sides.  While all of Miami Beach is known for its amazing beaches and relaxed lifestyle, there are three distinctly marked neighborhoods within the island: South Beach, Mid-Beach, and North Beach. So what is the nicest area in Miami Beach? As we explained in our video about the Miami Beaches, each one is unique unto itself, characterized by subtle differences in architectural styles, cost of living, neighborhood characteristics, and types of businesses. It depends on what you’re looking for because each of the neighborhoods has its cultural flavor and way of living.  Here’s a little summary of Miami Beach’s three main neighborhoods.    Getting to Know North Beach     Of the three areas, North Beach has the fewest tourists, the least amount of traffic, and so is generally less busy, and less expensive than South or Mid Beach, making it a favorite among locals, young families, and young professionals. It also has the least crowded beaches and the lovely North Shore Park, with volleyball courts and the bandshell, with live outdoor music several times a month.  Housing options are mostly small to midsize condo buildings, many with ocean or bay views. Lately, there has been more interest in developing this area of Miami Beach, with upscale condos like 72 Park almost ready for delivery and others like Ella Miami Beach and Palma Miami Beach—all of which allow short-term rentals—under development. However, because it is the least developed of the three neighborhoods, it is the oldest too. There are still many buildings and small, two-story apartment and condo complexes from the 1930s to 1950s, including some architectural Art Deco gems. But they may not be renovated. And there is less retail here as well.  What About Mid-Beach? Finding a middle ground between North Beach’s peace and South Beach’s happening scene, Mid-Beach offers a more upscale alternative where you can find legendary hotels of Millionaire’s Row with their luxurious spas, bars, and restaurants, similarly built beachfront condo buildings from the 1950s, 60s and 80s, as well as private golf courses and marinas to enjoy the outdoors.  While much of South Beach and North Beach are defined by Art Deco architecture dating back to the 1930s, Mid Beach is an eclectic mix of residential Art Deco interspersed with Mid-Century Modern. Home to 1950s architectural masterpieces such as the famed Fontainebleau, you’ll also find luxurious oceanfront condo towers, like Faena Mar and 57 Ocean, or new ultra-luxury beachfront pre-construction condos like The Perigon or Aman Tower. The southern part of Mid-Beach has also transformed due to the addition of the Faena District and other ultra-luxury boutique condos and hotels like The Residences at the Miami Beach Edition. Mid-Beach is also home to many luxurious single-family home neighborhoods highly popular for families and executives, including La Gorce Island and Country Club.   — Why Live in South Beach? For those who want to experience the neighborhood with the most upbeat, dynamic, and fun-filled lifestyle in South Florida, there is no other area that can compete with South Beach, the liveliest, most dense, and most touristy neighborhood in Miami Beach, and arguably, in all of Miami. Affectionately called SoBe, this is a bustling area with all-night wining and dining options, an urban enclave where walkability rules and beachside living is the law of the land. Quiet in the early morning and festive most of the night long, South Beach is perfect for urbanites who enjoy an active lifestyle and want to eat, drink, party, play outdoors, and shop, as well as enjoy cultural amenities, without ever having to really drive anywhere. We admit though, most people living on South Beach have a car to get to mainland Miami and other nearby areas.  It also has some more residential areas, namely on the western side facing Biscayne Bay, which makes it a popular choice for both part-time and full-time residents, offering easy access to Edgewater, Downtown Miami and Brickell via two causeways.  Business and Shopping Being one of the most touristy neighborhoods in Miami, South Beach has plenty of small to mid-size businesses that are primarily in the hospitality industry, like restaurants, bars, hotels, spas, etc. along with some service-based businesses, like lawyers, dentists, or doctors. You won’t find big headquarters or international corporations like you do in Brickell, but it is still a pretty dynamic area. In the shopping department, South Beach has plenty of options starting with the open-air mall on Lincoln Road, where you’ll find all sorts of big-name brands, high-end boutiques, as well as galleries and plenty of  restaurants. There are also some big-name brands like Target, Best Buy, and Macy’s, and some smaller boutique stores, particularly around West Avenue.  Walkability and Transportation   All of Miami Beach is very walkable, but South Beach in particular is a car-free haven. Everything is very close together and you’ll see lots of other people take advantage of this walking, biking, or skating everywhere around you. It is also easy to get around to the other neighborhoods on the island using the free Trolley service or one of the many buses.  Parks and Greenspace All of Miami Beach is very walkable, but South Beach in particular is a car-free haven. Everything is very close together and you’ll see lots of other people take advantage of this walking, biking, or skating everywhere around you. It is also easy to get around to the other neighborhoods on the island using the free Trolley service or one of the many buses.    South Beach is all about waterfront living, with direct access to the Atlantic Ocean, Biscayne Bay, and beach parks such as South Pointe Park, where the ocean meets the bay. You can also try fishing, kayaking, paddle boarding, and jet skiing, as well as swimming at various waterfront locations.   Flamingo Park has a great public pool as well as tennis, soccer, handball, and basketball courts, and Lummus Park features areas for skateboarding, rollerblading, and kids’ playgrounds, as well as direct ocean beach access. There’s also a public golf course, Miami  Beach Golf Club,  just at the border of South Beach and Mid-Beach on Alton Road.  Arts and Culture   South Beach is one of the most happening places in all of Miami in regards to arts and culture. Around Collins Park, you’ll find the newly-renovated Bass Museum of Art in the famed Art Deco District, where the unexpected may always be expected, particularly during the yearly Art Basel and Miami Art Week festivities.  Nearby is the gorgeous New World Symphony Plaza, designed by Frank Gehry, where you can watch giant wallcasts or projections of classic films as you stroll along the street, or attend a concert at the Fillmore, once the famed Jackie Gleason Theater. Other yearly events include Design/ Miami, The Food Network’s South Beach Wine and Food Festival, Fashion Week Miami, which features the latest in beachwear, and several fitness events and music festivals that happen several times a year.   Finally, South Beach is also home to Oolite Arts, which hosts an array of subsidized artist studios that are open to the public and the Florida International University Wolfsonian Museum and Library. Also, South Beach’s long-running Winter Antiques Mall on Lincoln Road has been a favorite for decades.   Eating and Going Out The sheer number of tourists that visit South Beach each year means that you’ll have an endless variety of dining options year-round only steps away from your condo, including a couple of Michelin-starred restaurants like Stubborn Seed and The Den. For a more relaxed environment, try the happy hour on the bay at The Standard Hotel. And if partying or having a drink is your preferred plan, South Beach is where you’ll want to be. Famous clubs like Liv in Mid-Beach, Do Not Sit On The Furniture, and Nikki Beach welcome guests who aren’t afraid to dance all night long. South Beach Schools Being the international tourist hotspot that it is, South Beach has plenty of condos, vacation rentals, and hotels, but fewer schools compared to some other Miami neighborhoods.  It is served by South Pointe Elementary School, North Beach Elementary School (in Mid-Beach) and Fienberg Fisher K-8 School, as well as Nautilus Middle School in Mid-Beach, and Miami Beach Sr. High, and private schools such as St. Patrick’s Catholic School and the Hebrew Academy.   Architecture and Housing     The elegant South-of-Fifth (SoFi) district is known for its classic Art Deco architecture, residential quality of life, and quiet, off-the-beaten-path charm. This elite neighborhood is only steps from the bustle of Ocean Drive and the many restaurants and nightclubs that South Beach is known for but provides a quieter, more luxurious yet more laid-back lifestyle.  For this reason, South of Fifth is one of the Beach’s most desirable neighborhoods, offering condos with dazzling ocean views and luxurious amenities, like Apogee, Continuum I, and Continuum II, or the pre-construction Five Park. Along West Avenue, beautiful bayfront condo towers with breathtaking ocean views abound, for those who seek a healthy and active lifestyle with all sorts of shops and restaurants to walk to. The nearby Sunset Harbour area, completely redeveloped in the 2000s from a commercial warehouse neighborhood into a well-received mix of great restaurants, boutiques, and trendy gyms, also offers luxury condo options replete with all of today’s most coveted amenities. Cost of Living     South Beach listings average about $784,808 or $551 per square foot, but luxury properties may list for as much as $42,500,000 or $22,959 per square foot. Still, affordable options, as well as single-family homes or bungalows are available. — So, Which is Better, South Beach or Miami Beach? Deciding where to buy your condo comes down to what resonates with you the most in the South Beach vs Miami Beach debate. Do you want to be in the middle of it all with restaurants, clubs, and shops within walking distance? Then South Beach might be perfect for you! Or do you prefer a quieter area with pristine beaches and a more relaxed lifestyle? Then the other neighborhoods in Miami Beach are worth exploring. Whichever you choose, remember that buying a condo in Miami is always a good idea and we’re here to help you in that search, whether you’re looking for a second home, a primary residence, or an investment property. Just give us a call or shoot us an email and one of our expert agents will gladly help you explore all the options.  

Falling Mortgage Rates Are Bringing Buyers Back

If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent. After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to several economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower mortgage rates are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at Bright MLS, says: “A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.” The best part? You can take advantage of that renewed buyer interest. As Rates Fall, Buyer Activity Goes Up The graph below illustrates the relationship between falling mortgage rates and rising buyer activity. The orange line represents the average 30-year fixed mortgage rate, while the blue line shows the Mortgage Bankers Association (MBA) Mortgage Application Index, which tracks the number of mortgage applications. As you can see, as mortgage rates (orange) come down, the Mortgage Application Index (blue) rises, showing more people start to re-engage in the process (see graph below): What This Means for You According to the National Association of Realtors (NAR), home sales increased in July, which was a welcome shift after four straight months of declines. If you’re a homeowner thinking about selling, this uptick in buyer activity works in your favor. More buyers means more competition, which can lead to higher offers and shorter time on the market for your house. And, according to Edward Seiler, AVP of Housing Economics at the Mortgage Bankers Association (MBA), this trend is expected to continue: “MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market.” All in all, the market is becoming more accessible to a wider range of buyers, which could result in even more people looking to purchase a house like yours. With more buyers entering the market, now’s the time to start getting your house ready to sell. Bottom Line The recent decline in mortgage rates is already driving more buyers into the market, and experts project this trend will continue. Work with a local real estate agent to take advantage of this increased buyer demand and get your house ready to sell.

Complete Guide to Buying a Condo Hotel in Miami

For years, Miami has been a top destination for beach enthusiasts, party lovers, wellness aficionados, and tourists alike. The city's vibrant lifestyle and constant demand make it a prime location for investment properties, particularly condo hotels. In the U.S., these properties are commonly referred to as condominium hotels, hotel condos, or simply condo hotels, while internationally, they are often called condotels. Many major hospitality brands are either involved with or actively developing condo hotels. But what exactly is a condo hotel? What makes it a smart investment? And why might someone choose a condo hotel over a traditional condo, a short-term rental, or a timeshare? Discover the answers to these questions and more in our comprehensive guide to buying a condo hotel in Miami.    — What Is a Condo Hotel and How Does It Work? Condo hotels are typically high-rises built close to popular vacation destinations and operated by hotel brands such as Four Seasons, Ritz-Carlton, St. Regis, and more. In the building, along with the hotel suites are the condo hotel units, which are reserved for individuals who purchase them to own a second home or vacation property. Owners can place their condo in the hotel's rental program to earn revenue while they're away. The best part of buying a unit in a condo hotel is that you get access to all of the 5-star amenities, services, and luxuries associated with the hotel brand. For example, you can count on enjoying St. Regis' butler services, among many other perks. Typical amenities of these projects include a signature spa, fine dining, nightclubs, lounges, lavish pools, room service, a concierge desk, and housekeeping. To the average guest, a condo hotel unit might seem no different than a regular hotel suite, but it is individually owned, and often bigger and more like a regular condo floor plan.  — Advantages of Owning a Condo Hotel Vs. Traditional Vacation Condo Before delving into the details of buying or owning a condo hotel, let's take a look at the various advantages a condotel owner gets by default: Hassle-free vacation home with signature hotel amenities. One of the biggest attractions of buying a condo hotel property as a vacation home is having access to all the facilities of a resort. While housekeeping, room service, and a concierge take care of things during your stay, the hotel team or an on-site management company can take over once you're away. Hospitality-grade, professionally managed rental program. Another great advantage of being part of a brand is that if you put your condo in the hotel's rental program, you have a professional team with years of sales and marketing experience in the hospitality sector working to your advantage. Not only does your condo get a professionally managed marketing team, but a multi-million-dollar global reservation system keeps your unit in the limelight generating revenue all year. This, of course, comes with the hotel getting a share of the profits. On the other hand, if you prefer hiring a third-party management company to do Airbnb, for example, you get to keep a bigger share of the revenue while still enjoying all the leverages and benefits associated with the hotel's brand. Income is known to offset ownership expenses. Like a regular vacation condo, a condo hotel also comes with its own expenses (condo association fees, maintenance, repairs, short-term rental taxes, etc.) However, many people can generate a regular stream of income that offsets the costs of ownership and even book profits on their property with the short-term rental capabilities of the unit. Two-fold appreciation. Any property is known to be an appreciable asset. One unique advantage to a condo hotel is that if the image of the hotel brand improves over time, it can increase your property rental rates and possibly your property value. A pre-construction condo hotel with a private club is also a great investment in the Miami real estate market. — What Are the Differences Between a Timeshare and a Condo Hotel? No joint ownership. Unlike a timeshare, wherein several owners get to use the same property as a vacation home, a condo-hotel is individually owned. No fixed time for vacation. Since you do not share ownership of your condo, the concept of time-sharing is also ruled out. In a timeshare, co-owners usually agree upon the vacation time they can have on the property, which is typically the same 1-2 weeks a year. However, as the sole owner of your condo hotel, you get to decide the number of days and times in a year you can use your vacation condo. If you're enrolled in the hotel rental program, make sure to consult the blackout dates. These are generally peak vacation times or holidays when your condo is compulsorily blocked for renting out. Easier to resell. The idea of sharing ownership and splitting time with others can be a turn-off for many buyers. However, since a condo hotel unit is individually owned, it has a higher probability of appreciating over time and is easier to resell. — Is a Condo Hotel the Right Choice for Me? If you answer yes to any of the following questions about condo-hotels, then a condo hotel would be the right choice for you: Do you only plan on using it as a vacation property? Do you only plan on visiting for a small percentage of the year? Do you like owning a slice of luxury in a world-class hotel brand? Is earning rental income while not using the property a priority for you?  — Is Buying a Condo Hotel a Good Investment? Just like any other investment vehicle, whether this turns out to be a smart pick or not depends on your needs and choices. Here are a few elements that impact your return on investment: Not all hotel brands are built the same. Your revenue directly depends on your condo hotel's brand image and management. The stronger the brand value and management, the more you can expect to earn per night. This is why you have to carefully choose the right brand according to your investment capability. Revenue splits. If you choose to enroll in the hotel's rental program, keep in mind that you will be splitting revenues with the establishment. This means you could pocket anywhere between 35-60 percent of the earnings, depending on which condo-hotel you choose. However, from our long experience in the Miami real estate market, a 35% cut from a well-established, high-end brand could give you better annual returns than a 60% cut from a weaker brand. Projected data limitations. Since developers are only allowed to sell condo hotels as real estate and not investments (according to the Securities and Exchange Commission), you will not be given any data on occupancy forecasts, proposed rates, or the expected rate of returns for pre-construction projects. However, existing properties can share historical data about earnings, which can give you a fair idea of what to expect. And the seller may also be able to provide insight on their returns and use behavior.  No guarantees on occupancy rates or income. Again, since the SEC restricts sharing any kind of projected data, no realtor or developer will commit to any kind of income or rate estimates. Also, your condo hotel earnings will be just as vulnerable to economic, political, or climate changes as the rest of the hospitality industry. So, the only thing one can do to safeguard their investment is to look into the checklist below and ensure a good buy. — How to Ensure Your Condo Hotel Is a Successful Buy Once you've decided that a condo hotel is the right choice for you, then look into the following checklist to ensure that it turns out to be a smart buy as well: Good location. Make sure your condo-hotel sits in or near a popular vacation destination or at least in a neighborhood frequented by tourists, and is ideally walkable to attractions and restaurants. Strong brand. Brand value is one of the most basic things that will help ensure better marketing, higher occupancy rates, and earnings per night. For example, the W Hotel & Residences in South Beach or the 1 Hotel & Homes South Beach are both excellent branded and located condo-hotels. Or the first-ever Dolce & Gabbana condo building in Brickell will also be a condo hotel. This luxury pre-construction condo hotel is certainly worth looking into if you are considering a luxury product. There are many other new preconstruction condo hotels in development as well. Attractive amenities. What's a hotel without its amenities, right? Make sure that the amenities are at par with what you spend. After all, spending more than a million dollars should fetch ultra-luxury amenities in a five-star establishment. Solid management. Even the most enticing amenities can turn lackluster without the proper care and maintenance. Solid management should make sure that your condo and the hotel itself are always in tip-top condition. Survey and Compare. Check out neighboring properties, condo hotels in different parts of the city, the unit itself (if it's ready), prices of similar condo hotels, etc. before making a final decision. An experienced brokerage or real estate agent can help you with this and should know some of the best options in your target market. Also, in some markets small units perform better, such as studios, 1 and 2 bedroom options, whereas in other markets larger 2 or 3 bedrooms units have higher occupancy rates.  Read the fine print. Make sure you know about your association's fees and rules, any restrictions, details on the rental program, its blackout dates, and revenue splits. An informed decision is the best decision. Ask a lot of questions, especially if it's your first condo-hotel investment. This is the only time you have to ask as many questions as you want and clear every doubt you may have. Once you sign the dotted line, little can be done after. To prevent such instances, take a look at our list of suggested questions, watch our video on the pros and cons of buying a condo hotel, or contact us to help you with your specific purchase of a Miami condo hotel unit.   — Key Questions to Ask Before Buying a Condo Hotel How does the hotel's rental program work? Is it mandatory for you to participate in the hotel's rental program? How are rental revenues split? What percentage do you get? How long before you come to stay will you have to notify management? Are there any blackout dates? Is there any restriction on the number of days you can stay/rent out your unit? Will you have to stick to the check-in/check-out timing too? Is your unit furnished? Is the current furniture in the unit acceptable if you want to place it in the hotel program? Who will manage the property? The hotel team and management team can be two separate entities. When are proceeds distributed? How much access will you have to the hotel's amenities? What are your voting rights and how much access will you have to property books and records? What if a guest damages the furniture in your condo? Can you use the hotel facilities even when not occupying your residence? Who is responsible for paying the property tax on your property? Can the condo hotel be financed? — Staying in the Condo-Hotel's Rental Program Vs. Managing Without One Perks of joining the hotel's rental program: You have an experienced sales team, experts in hospitality, marketing your unit all year long. The hotel's worldwide, multi-million-dollar reservation system is used to market, manage, and track rentals. The outreach of such programs is usually immense. Besides the hotel's brand image and marketing techniques, your unit will be listed on the website and in sophisticated apps posted by the hotel, making your room more visible and accessible. You will have to split a fixed percentage of the revenue with the hotel, which may or may not match your investment goals. Blackout dates can be a concern, especially when you wish to spend major holidays or peak vacation weeks in your vacation condo. Going solo (i.e. Airbnb) You can either dedicate your extra time or hire a third party to manage your rentals. We'll be happy to advise you about some of the best property management companies in Miami to make your search easier. You get to keep a lot more of your revenues. If you are not in the hotel rental program, you are typically not required to share your revenues with the hotel. You or the company you hire need to be dedicated to the proper marketing and management of your rentals to generate a steady flow of income. You have full control over when you do and do not want to rent your unit.   — Typical Expense for a Condo-Hotel Owner Just like a regular condo, your condotel unit entails a monthly association fee that generally covers utilities such as gas, water, electricity, internet, cable TV; common area maintenance; reserves for furniture repair; accrual of future expenses such as room remodeling; management costs; building insurance; and other expenses generally covered by traditional condo fees. Additionally, you will be responsible for paying insurance (there will be details in the official documents on specifics), real estate taxes, and any other unique expenses detailed in the agreement with the hotel operator. The hotel will be responsible for paying for its costs of operation such as salaries, marketing, reservation systems, and other direct hotel expenses. — Can a Condo Hotel be Financed? Yes, plenty of lenders are willing to finance condo hotel units nowadays. However, it's worth noting that since banks perceive these units as an investment property rather than a residential property, loan rates and down payment requirements are generally higher. Contact us for more information about lenders who can finance such investments in you are considering the Miami or South Florida market.     — Alternatives to Condo-Hotels for Short-Term Rentals Some people looking for condo-hotels ultimately simply want to have a vacation condo they can rent out whenever they are not using it. Many condos in Miami and Miami Beach allow for either daily, monthly, or seasonal rentals, which can offer a practical alternative to condo-hotels and still provide you with rental income.  — Buying a Condo Hotel Property: Conclusion All in all, condo hotels are a great way to enjoy a fabulous property, located in some of the top tourist destinations of the world, powered by a world-renowned hospitality brand. It also works out to be a great investment opportunity, where the rental income covers regular expenses and typically still leaves room for profits. With the current huge variety of condo hotels in Miami for sale, we'll be more than happy to pair you with the best fit. Feel free to give me a call at 941-373-5841 or email at ciacciob@gmail.com to help you with your search for the best condo hotel.