What could be better than owning a vacation home and earning rentals when you arent using it? Until recently, John Thomas with his Filipina wife from London, UK, owned a traditional vacation home, in Metro Manila, Philippines. But after a year away from the country they arrived during the summer holidays to find the tenants that were renting the property had run away leaving the property abandoned and his caretaker, whom was no longer to be found, had pocketed the rent he sold the house and bought two condo hotel units instead.
Now, Mr. Thomas and his family own Condotel Suites in Manila and Cebu, and expect to earn money when the rooms they own are rented out to other guests. Mr. Thomas, his wife April and their seven year-old daughter are planning to spend their 2007 Summer Vacation in their unit at the Lancaster Suites in Manila, Philippines, a 450-unit Condo Hotel built and managed by Pacific Concord Properties Inc under the Lancaster brand of Hotels.
Mr. Thomas says. If Lancaster rents out the unit during 11 months of the year, Ill make enough money to take my family on a second trip to the Philippines during the Christmas Holidays and go a long way to...
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