Daytona condo-hotels are an affordable alternative to expensive oceanfront vacation condos. It is usually a hotel room in a condominium building operated as a hotel. Size may vary from 200 to 800+ sf. Majority of Daytona condo-hotels are studios with a kitchenette, with or without cooktops.
What You Need to Know About Daytona Condo-Hotels
Important reading: What Condo-Hotels Are and What They Are Not
There are 2,448 condo-hotel units in 14 condo-hotel properties in Daytona Beach area.
What are Daytona Condo-Hotels?
Condo-Hotels (aka Resort Condominiums) are legally condominiums, where individuals own a unit, but the units are usually operated as a hotel. So, condominium is a form of ownership, and hotel is how they are used. As in any condo, owners pay monthly Association Dues whether they rent their units or not. Besides paying monthly Association Dues, owners are responsible for annual Real Property taxes, insurance on their unit, and Special Assessments.
Unit owners are members of the condo-owners Association. They elect The Board of Directors to run the Association. In our area the Boards are elected for one-year term. The Board may hire a Community Association Manager or a management company to help them in day-to-day operations. They may hire a Hotel manager to run the Front Desk or a Hotel Management Company to handle hotel operations.
Rule of thumb:
If you can afford a residential condo, it might be wise to choose it over a condo-hotel.
How Condo-Hotels Operate?
Daytona condo-hotels usually have a rental management company or Association hires a manager, and they are renting the units and take care of the Hotel part of the business. This is completely separate from the affairs of the Association.
Rental management company splits income from renting the unit according to the agreement they have with participating owners. Majority of condo-hotels in the area split 50/50. The owner is responsible for maintaining the unit in rentable condition.
This is not timeshare. You own it. When you hear “condominium”, it means you own your unit
PLUS the undivided interest in Common Areas.
How Can I Use a Condo-Hotel?
Daytona condo-hotels are for people, who plan to use the unit part of the time, and rent either themselves or through Front Desk when owners are not using their units.
Pay attention to the use. They are used as hotels, so this is how they are looked at. Condo-hotel units are for short-term rentals. As an owner, you may be limited in the way you can rent it or use it. Some may prohibit you from renting on your own without utilizing the services of the Front Desk. Also, some may limit your stay to certain number of days a year.
Daytona Condo-Hotel units with one exceptions can’t be used as primary residence. You can’t live there permanently, you can’t retire there. So, no matter how attractive the price might be, if you are looking for a place to live or even stay longer periods of time, condo-hotels are not for you.
How Much Money Can I Make?
Don’t bet on rental income. The rule of thumb is that in normal economy and normal year your rental income will probably cover your expenses (Association Dues and Taxes). Breaking even is already good, but not guaranteed. In bad economy you might end up being in the red.
And if there are Special Assessments, they may put you in the red.
What Are Special Assessments?
Every condo and condo-hotel has a budget. Every time there is an unavoidable expense, which was not budgeted, or the cost exceeds the budget, the shortage will be covered by levying the Special Assessment. It is a way of life in condos and condo-hotels.
If you skipped the info above, please, read about condo-hotels before you look at the listings or start your search.
List of Oceanfront Condo-Hotels
- Castaways Beach Resort
156-unit oceanfront condo-hotel in Daytona Beach Shores. - Daytona Inn Beach Resort
152-unit oceanfront condo-hotel in Daytona Beach, offer mix of studios and 1-bdr small condos - Daytona Beach Club
117-unit oceanfront condo-hotel in Daytona Beach, offers covered parking on first level - Daytona Beach Resort & Conference Center
315-unit oceanfront condo-hotel in Daytona Beach, offers parking in multi-level garage. 3 pools, one indoor pool, conference/convention rooms. - Fountain Beach Resort
148-room condo-hotel in the heart of Daytona’s beachside, walking distance from Main Stree, Ocean Walk Village, all bars and restaurants. - Harbour Beach Resort
141-unit oceanfront 8-story condo-hotel in Daytona Beach. Majority of units are oceanfront. - Hawaiian Inn
208-unit oceanfront condo-hotel in Daytona Beach Shores. Excellent grounds. Indoor and outdoor pool, dinner show. - Oceanside Inn
123 units with 191-rooms oceanfront condo-hotel in Daytona Beach Shores. - Ocean Jewels Club
201-unit oceanfront condo-hotel in Daytona Beach. 2 outdoor pools. Outside corridor system. - Ocean Walk Resort
2 high-rise towers with 300 units each managed by Wyndham Resorts. - Pirate’s Cove
164-unit oceanfront condo-hotel in Daytona Beach Shores. - Sea Dip
134-unit oceanfront condo-hotel with city or ocean views is half mile south of International Speedway Blvd. Outdoor and indoor pool. - Symphony Beach Club
32-unit oceanfront condo-hotel, the only condo-hotel in Ormond Beach. - The Plaza Resort & Spa
323-unit oceanfront condo-hotel in the heart of Daytona Beachside. This is a flagship condo-hotel.
Please contact us with any questions you might have about the market or our services.
Disclosure:
In September and November of 2022 Hurricane Ian and Nicole caused significant damage to our shoreline. The erosion caused evacuation from some buildings, and not every condominium is currently open pending massive restoration/repair efforts. However, even when the resorts are closed, owners still pay Association Dues and in addition often very hefty Special Assessments.
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* Association dues may change every year