Is there an average monthly maintenance fee I can expect for a condo hotel unit? What ranges are you seeing in existing projects?
There is no real average. Monthly maintenance fees can vary widely . For example, it they can be as low as $.51 per sq. ft. at the Q Club in Ft. Lauderdale, Florida to all the way up to $4 per sq. ft. at the St. Regis in Bal Harbour, Florida. A good estimate is $1-$1.50 per sq. ft. which is what we see in a lot of projects.
The above question was submitted via e-mail by a visitor to www.condohotelcenter.com. The answer was prepared by Joel Greene, a licensed real estate broker with Condo Hotel Center which specializes in the sale of condo hotel units and fractional ownerships in private residence clubs.