Las Vegas Condo Hotel Rooms for Sale
Hotel Condos Units for Sale in Las Vegas have because a HOT market as there is only 4 developments with this offering. Own your own condo hotel room in Las Vegas and live full time or put in rental pool. You can buy and own a 4 or “5 Star” condo at some of the most prominent hotels in Las Vegas. This unique opportunity allows you to own a piece of the “World Famous” Las Vegas Strip. Popular opportunity for frequent visitors or those looking to diversify their real estate portfolio.
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3 of the most popular selling Las Vegas Condo Hotels
Las Vegas CONDO HOTELS: Own your own room with option for rental pool.
(financing available on select towers, call for details)
What is a Condo Hotel & Why Would I Want One?
One of the fastest growing trends in high rise living today are “condo hotels“, also known as condotels. Investing in one of these properties gives you both pleasure and a chance to profit, and here is how.
A condo hotel is a hotel based property in which each unit or a suite is owned by a different individual (maybe you) but also can be rented to paying guests while the owner is not occupying the unit. The condo hotels have innovated into some of the most carefree, luxurious lifestyle options today & a viable real estate investment option. Especially in Las Vegas which has a proven track record tourism experience and record breaking tourism.
How Does a Las Vegas Condo Hotel Work?
The way condo hotels function is simple. Upon purchasing a unit, you may reside in it any time you want, using the hotel’s full amenities, as if you were in a hotel resort. While you are not occupying the unit, it can be rented to paying guests just like a regular hotel room and you will be earning a portion of what they pay for the stay. Since the rental revenue is shared between you and the hotel management company, you will be earning a portion of the income while not doing any work whatsoever. Most commonly, shares are 50/50 but they do vary from property to property.
Benefits Of Owning a Condo Hotel Unit
#1 Financial benefits and pasive income
A condo hotel unit is a great investment because it gives you a getaway space while being a pure profit maker. During your absence, the unit will be rented by the hotel management who will cover all the responsibilities. You don’t even have to do any work regarding your unit but you will be making a desirable pasive income all year round. As the condo hotel properties are usually located in highly urbanized areas and luxurious locations, they are occupied most of the year and charge quite a sum of money per night so the cash flow is not questionable.
Note: The SEC does not allow agents to discuss condo hotel potential profits or sell as an investment. However, you can request to see a PROFIT & LOSS Statement. Depending on the unit you may see a loss, a zero return, or a yearly profit from $4000 to may $10,000 a year. But be sure you are requesting the P&L and history from the owner(thru your agent) for the last 2 years or more to make an educated decision as each unit has its own VIEW and Location. You may see that certain units over a certain height an view are more requested and do better.
#2 Resale value increasing
There are also other financial benefits besides the rental revenue. As the property value of these units is constantly increasing and you can buy or sell them like any other real estate property, you can make quite a good profit by reselling your unit later on. Either way, there are plenty of good investment opportunities for condo hotel unit owners. Remember you make your money in real estate when you buy, by being patient and sometimes making several offers on many properties.
MGM Signature has had a dominating presence in the Las Vegas condo hotel market because it has the most units and is adjacent to the largest luxury hotel in the USA. Its famous for its pools and pool parties hosting some of the most infamous spring break and after work pool side events. You will always have something to do in or around the MGM.
#3 Flexibility of use
Having a condo hotel unit means you have a second home or a vacation home secured in a certain location. That gives you plenty of flexibility to make use of this convenient property. If you choose a good location you like, you can use the unit as your vacation getaway whenever you like. The best thing is that the unit is available for you at any time, all you have to do is call the condo hotel in advance and check whether the unit is occupied. You can simply request the management to keep the unit reserved for you durng certain periods and allow yourself to get some rest away from home.
#4 Enjoy the luxury accommodations
Any time you check in your unit, you will have the full-service of the hotel at your hands, meaning you can enjoy the luxury accommodations and amenities for free. Basically, whenever you decide to take some time off and visit your “vacation home”, it will be like visiting your own full-service resort completely for free. The condominium accommodations are considered top class luxury, especially of those condo hotels located in urban destinations.
TRUMP is a 5 Star Rated Hotel with one side having dead on strip views that are considered the best in vegas for 4th of July fireworks, New Years and its easy access to fashion show mall across the street. Its not uncommon for people to live here year round and just being pampered.
Trump Las Vegas Booking.com
#5 No maintenance responsibilities
A great thing about condo hotel units is that you don’t have to worry about keeping your unit clean and ready for renting. Maintenance, cleaning as well as renting are all available on site and the responsibility of the hotel management association. Absolutely everything is taken off your hands, all you have to do once you are done enjoying your time at the unit is pack up and leave. Properties in the rental program are covered from loss or damage if it occurs while being rented. See individual details per building and ask for the P&L and examples of how the association deals with maintenance issues or repairs. All buildings in Las Vegas have 24 maintenance due to its tourism and 24/7 lifestyle.
#6 Tax benefits(discuss with your accountant)
Even though condo hotel units are built in a sort of a hotel setting, they are still considered a private residence which gives the owner the right to have tax advantages. Therefore, plenty of tax benefits come with the investment of purchasing a condo hotel unit. However, make sure to discuss this step with your accountant before making a decision.
Palms Place Las Vegas Pool
#7 Securing a location
Hundreds of condo hotel properties are located throughout America, each of them owned by well standing brands that assure safety and top class accommodation. Getting a condo unit at a good location means that you will both secure your hotel room forever and you will get a great revenue from the rents. If you have a particular location you love visiting often, it is best to get a condo hotel unit to secure your place whenever you decide to go.
Las Vegas is a Top Destination with 4 & 5 Star Condo Hotel rooms with Views and world-class amenities.
There are plenty of benefits when it comes to owning a condo unit, from financial advantages and passive income to having a getaway space any time you need it. All that leads to the conclusion that purchasing a condo hotel unit is a unique investment.
Real Estate Agent Ashley McCormick at Las Vegas Condo Hotel
Contact a Las Vegas Condo Hotel Specialist Today at 702-882-8240