Lake City Condos

Florida has become a major vacation destination because of its fine year-round weather and air and sea transportation links; hotels, guest houses, timeshares, coops and condominium developments dot the coastline. In the 1990s there was a boom in new hotel construction, in part because of tax incentives and financing assistance from the government. Millions of visitors register each year at Florida's hotels and inns.

Condominium ownership, which was introduced in the U.S. in 1961 and has since been widely adopted, implies separate ownership of individual apartments or units in a multiunit building. The purchaser of a condominium becomes the owner of a particular unit and of a proportionate share in the common elements and facilities. The unit may be separately mortgaged; the owner pays taxes and a fixed monthly sum to maintain the common elements. In the sale of a unit, the seller executes and delivers to the buyer a deed conveying all right, title, and interest in and to the entire condominium as well as the particular unit.

A Florida condo hotel, also known as a hotel-condo or a Condotel, is a building used as both a condominium and a hotel. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts in the US and around the world. These hotels have condominium units which allow someone to own a full-service vacation home. When they aren’t using this home, they can leverage the marketing and management done by the hotel chain to rent and manage the condo unit as it would any other hotel room.

A Florida timeshare is a form of vacation property ownership. With timeshares, the use and costs of running the resort are shared among the owners. While the majority of Florida timeshares are condominium vacation resorts, developers have applied the timeshare model to houseboats, yachts, campgrounds and motor homes.