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The Condo Mania Team

News > Toscana Adds a Vacation Resort Option

published on 2013-01-04 by Liz Suto

Finally, a good answer to all of our clients looking for a phoenix condo that they can rent out when they are not using it. Toscana, a large resort style community in Desert Ridge, is building a section of the community devoted to vacation resort ownership. In otherwords, a Condo Hotel, or Condo-tel.

The purpose of this "resort within a resort" is to give owners a way to use their condo when they want, usually for a week or month at a time, and then have the unit available for rent (by night) the rest of the time. Sure, just about any condo in Phoenix can be used as a rental, but almost all condo HOAs have at least a one month minimum rental requirement. Plus, almost no communities have an on-site rental office, making it difficult for owners to get cost effective property management for short term rentals. Toscana Vacation Resort units can be rented by the night and the on-site property management group handles everything, from getting the property rented to handling that leaky faucet. Some of the features of the Toscana vacation resort include:

  • Standard furniture and accessory packages so that the resort will have a uniform, high quality look and feel (granite counters, stainless appliances, etc.).
  • Separate resort pool and workout facilities for resort guests.
  • Full onsite staff to handle the vacation resort leasing and maintenance, just like it was a hotel.
  • Access to all of the local entertainment options - Desert Ridge Marketplace, Wildfire golf resort, etc..

What's different about the vacation resort section versus the rest of Toscana? The facilities are comparable in both sections, but you'll pay a higher HOA fee in the resort side. Plus, you'll have neighbors coming and going like any hotel. However, the advantages to owners looking to use the property for only several weeks or a month out of the year are immense. Statesman Resorts have created a quality product that can compete with many of the upscale hotels in the valley, helping you get your condo rented as much as possible when you aren't using it.

Another caveat - financing. You won't be able to get conventional financing for the vacation resort side of Toscana. Currently, it's cash only. The condo-tel option isn't for everyone. For example, if you are using the property for most of the high season, the advantage of the condo-tel is lessened, because that's when you get the highest price per night. And vacationers that want to keep their cash would be better served by simply purchasing a time-share or paying for a hotel for a one or two week visit.

You'll need to examine all these options when considering a full-ownership condo at a vacation resort. There are other Condo-tel choices in the valley, such as the Arizona Grand Villas. We can help you compare these options to make the best choice. Please contact us first so that we may represent you, at no extra charge to you.

 

Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.

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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.

Last Updated: 2024-03-28 00:45:45