It’s because of the large advantages of Condotel investment, the capital must be large, so you also need to be careful and observant in choosing condotels that you will seek as a place to invest. Additionally, if you need a recommended condominium in Singapore, you should check out the Piermont Grand EC.
Here are some tips for choosing the right condotel and making a profit for you.
# 1 Location of Condotel
Normally condotels are built-in tourist areas and prospective guests who rent are definitely tourists, both local and foreign. Choose a condotel location that is indeed a tourist destination for tourists. The more crowded and visited by many tourists, of course, your cash flow will flow more.
# 2 Check the Price
Calculate the details of the benefits you get. Is the price of the condotel comparable and reasonable with the unit rental price when you rent it to guests or even not comparable.
# 3 Check the Legality and Agreement
Check clearly and thoroughly about the legality, the land status of the establishment of the condotel building, the payment scheme, the distribution of results and all legitimate black and white agreements.
– Ask clearly the list of rights and obligations of the investor and hotel management.
– Don’t be tempted by the lure of big profits.
– You will lose if the legality and agreement on black and white are not legal.
# 4 Developer Reputation
Check the developer’s company, does it have a good track record. Also, check the hotel management who manages the condotel, are they reliable in their field. Get to know the hotel chain that you already have before.
Also, get information about how long the cooperation has been established between the developer and the hotel management. Usually, their cooperation ranges from 10 to 20 years.
# 5 Audit
Management of audits from public accountants can be a mature consideration.
Why is that?
Public accountants who will usually provide accountability reports more objectively. The better the reputation of public accountants, the more reliable the results of their performance. Make sure you get an audit report every year. This is the right of Condotel investors to find out the results of the Condotel management by Condotel management.