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A condo hotel, also known as a condotel, hotel condo, or a contel, is a building that is legally a condominium but operated as a hotel, offering short-term rentals, and which maintains a front desk. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts. [ 1 ]
Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.
Other lawsuits involving condo-hotels and their owners would also be affected. ... They will have to pay up but do not get to vote on the size or cost of those common area projects, such as ...
Cost approach is a real estate appraisal valuation method used to price an individual property. [1] It is one of three methods, the others being market approach, or sales comparison approach , and income approach .
A condominium building in Bethesda, Maryland. Multifamily residential, also known as multidwelling unit (MDU), is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. [1]
Other countries have legislation based on similar principles but with different definitions and using different mechanisms in their administration. Strata title schemes are composed of individual lots and common property. Lots are either apartments, garages or storerooms and each is shown on the title as owned by a lot owner.
The term condop in real estate refers to a mixed-use condominium building where at least one of the units is owned by a cooperative corporation and sub-divided into many "co-op" apartments. The other condo units are typically retained or sold separately by the developer and may be retail space, office space or parking garage.