Condo Business in South Florida

Tuesday, September 08, 2015

The Gale Residences Fort Lauderdale

We have been following this development on Fort Lauderdale Beach for some time now.

What's most attractive, compared to other projects, is that the rental restrictions are kept at a minimum, allowing local residents, vacation home buyers, investors to all find it interesting.

Let's explain the reason.

At The Gale Fort Lauderdale, if you plan to be living all year in your apartment, you will have a minimal intrusion of short term tenants since all the Gale Hotel suites, rooms, facilities, amenities, will be kept completely separate from the Condo Residences.

Owners should be allowed to occupy their unit and enjoy tax homestead exemption.

Another alternative would be (for an investor) to rent his unit for one year term through a realtor, rent it by month, by week, or even by day through online reservations such as airbnb.com or vrbo.com

A third alternative could be to place the property in The Gale Hotel rental program.

If unsatisfied with a course of action, an owner can always change his mind.

Being an condominium association separated from the Gale Hotel, the expenses of the Gale Residences won't be charged with any part of the hotel costs, which happens often typical Condo-Hotel situations. That could keep the condo (HOA) fees at a lower level.

The value of their apartment could also be affected by the reputation of the contiguous hotel.

The Gale Hotel in Fort Lauderdale will be a boutique hotel and the reputation of The Gale Hotel in South Beach, or the Bentley, which are owned by the same company is a testimony

to the quality of this investment.

Menin Hospitality is in fact the owner of about 15 hotels and restaurants in Miami and Chicago. And it seems as most of them are success stories.

In fact, some buyers at Gale Fort Lauderdale made their decision based on their good impression when they spent a night or visited The Gale South Beach.

Take a look at the exquisite boutique hotel THE GALE SOUTH BEACH.

Click the following video: