News Release Owners may use
Jim Pendleton - Mr MortgageTMOwners may use the Condotel when they wish and make their Condotel available for weekly rental through a
Condotel rental pool. A Condotel may be a viable alternative to the more traditional approach of buying a
condo at the beach as a second home and then placing the unit into a rental program run by a property
management company. In many areas of the country, these management fees can run from 25 to 30% of your rental
income. Some of the Condotels I have looked at appear to offer a less expensive alternative to the management
fees but, as always, you need to do your due diligence to be sure. From a Condotel financing perspective, a
Condotel will require a larger down payment than a more traditional condominium.