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Buying Process discussions and advice. Participate in ongoing dicussions and get invaluable Buying Process advice from people who are experts in their industries or start a new Buying Process discussion.
Kamie
( 1 post )

[6 Replies]
Hi,

I wanted to buy an appartment but it turned out to be a hotel. So an appartment in a hotel. I am not going to stay there since i live abroad and will come to pakistan once a year for 2 months.
!0 months it will be on rent so that is not an issue for me.

But i would like to know what are the minus points in buying an appartment in a hotel. I guess hotel laws apply also on me? What other disadvantages there are that i should be watchful of? Kindly lookin forward to your advice.

Shukria.

    75 days ago In Buying Process
    Post Answer
    Rauf Khan
    (40 posts)
    This is an interesting thread. Can we have some feedback from the gurus/experts Imtiaz sahib, Abdul Qayyum sahib, Ilyas sahib, Isloo1 please.
      57 days ago 

      Saqlain G
      (45 posts)
      I thought I post my opinion here earlier, but looks like it didnt get posted.
        56 days ago 

        Saqlain G
        (45 posts)
        Service apartments (aka condo-tel) is a very good concept, as long the execution and operation of the building is under good management. If you are still pursuing that and you would like to provide more information about the project, I would be glad to give more input.
          56 days ago 

          Furqan ul Re..
          (8 posts)
          If someone is interested in such opportunity than i have an option.



          Furqan

          0320-3500009
            7 days ago 

            Abdul Qayyum
            (1663 posts)
            Depends upon how the buyout contract is produced!

            Common hold

            Leasehold

            Freehold

            Moreover, for how long maintenance charges will be locked or how much per annum increase and after how many years, the rents and maintenance charges would be re-negociated?

            Non-occupancy situation woukd be delt in what manner on the contract?

            The ownership situation, Allha Forbid, during natural clamities: examples are floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes?

            Remember ghakhar plaza fire in Pindi, people bought their shops again from scratch.

            I think buy a commercial plot, construct it and put it on rent. This is the best way as you own land and roof and no one could mess with you.
            ***
            I forgot some more important stuff: As we know everyone has to die one day: Allah Forbid, if you and your natural next of kin (your wife) go together (Allah Forbid), the next ownership becomes an issue in some cases if it is not a freehold property!
              6 days ago 

              Isloo1
              (286 posts)
              Kamie, I am not sure what "hotel laws" you refer to. I don't think owning a serviced apartment or apart-hotel is in anyway different than owning a regular apartment.

              The only difference that I see is that this would incur a hefty maintenance fee that can easily be offset, rather turned into regular income, by letting it out to the facility management for 10 months and keep it free for 2 months for your use. The facility management will run it as hotel room and keep it maintained.

              It also depends upon the status of this project. If the management is running it as 4 or 5-star hotel then its upkeep will be in top shape. Otherwise, fast wearout would be a downside that you would not want to see for an expensive asset.

              So, negotiate your terms with the management.
                5 days ago 

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