Legacy Grand

Condo Hotel

Frequently Asked Questions

Question: What is a Condo Hotel?
Answer: All Legacy Grand properties are Condo Hotels, the newest trend in Vacation Home Ownership. Each Condo Hotel unit is deed and titled real estate which allows our owners all the benefits expected from a vacation home but operates as a hotel. It’s the best of both worlds.

Owners can use their Condo Hotel anytime throughout the year while enjoying the many amenities offered at each resort.

Question: Who is Legacy Grand?
Answer: Legacy Grand is a professional development company renovating existing hotels and developing purpose built properties into first class Condo Hotels. Three are now underway, and others are in the planning stages. They are all currently Florida based because Central Florida is growing and will continue to be the destination of choice for visitors worldwide.

Question: What is the difference between a Condo Hotel and Timeshare?
Answer: Condo Hotels and some timeshares are sold as real estate with a deed and title to your property. Some timeshare units are sold as a lease and have an expiration date after so many years. Condo hotels are not limited to one week or seasonal usages like timeshares and they can be enjoyed year round at the owner’s discretion. It's 24/7/365 ownership and they do not expire. Condo hotel owners can also use their unit for as little as one night at a time. Not all timeshares allow this flexibility.

Question: Can I use my Condo Hotel ownership at other locations?
Answer: Yes. Although this is NOT timeshare, Legacy Grand Condo Hotel owners can stay at other condos around the world through the same network that over 2,000 timeshare resorts belong to, Interval International. Owners are not required to participate in this program. This program is not offered by other condo hotels anywhere in the world. It is exclusive to Legacy Grand Condo Hotel owners.

Legacy Grand Condo Hotel owners can enjoy their unit at anytime throughout the year, or take a week or more to visit exciting places like Las Vegas, Hawaii, Europe and many more wonderful vacation spots.

There is no cost to stay at other resorts, except for a small exchange fee. Interval International, in exchange for your stay, has the right to rent your unit while you are away.

Question: Why Orlando?
Answer: Orlando is the number one tourist destination in the United States, with 49.4 million visitors in 2005. Year to date 2006 hotel occupancy in Metro Orlando is 73.7%. (Source: www.orlandoinfo.com)

Orlando offers sports and recreation that includes swimming, golf, walking, jogging, cycling, or just relaxing and working on your tan in the beautiful Florida sunshine. It’s all waiting for you at your Legacy Grand Condo Hotel experience.

Parks, Attractions and Beaches are all nearby including world famous beaches and theme parks, like Walt Disney World, Universal Studios, Sea World, Daytona Beach, Florida Space Coast and even the Space Shuttle at Cape Canaveral. It’s all here for you to enjoy and come back to whenever you feel the need for a holiday or vacation. Orlando is the cure for the time off from your everyday lifestyle.

Question: Conversion vs. Purpose Built?
Answer: Purpose built simply means a property that is built from the ground up. Conversion and purpose built properties have the same basic outcome, Condo Hotel ownership. The purpose built units are also usually filled with the latest amenities and at a higher price point due to the current cost of construction. Conversion properties can offer the same type of services and amenities and they alone have a track record. The new purpose built facilities are starting from scratch and may take some time to develop a reputation to rent the hotel units out for the owners that participate in a rental program.

Conversion properties can be as nice as some of the best new construction units in the industry. This is entirely up to the developer and the final cost that the units will sell for. If the market calls for an average of $100 to $200 a night for you to rent out or have your unit rented by an outside company when not in use, do not consider a $300 to $500 a night high end Condo Hotel in the same area unless you have a source for those renters.

Conversion properties can be purchased and redeveloped to meet an attractive price point in the mid $100's in the Central Florida market where the $100 to $200 nightly rents are more common than earlier stated amounts for higher end properties. New construction properties generally can not be built today in that price range. Make sure you are buying to meet your personal goals. Spending time with loved ones, real estate equity, etc. might be considered.

More information for each Condo Hotel renting policies and procedures can be obtained through their management company. You must inquire separately from the developer’s sales organization when deciding to purchase with the opportunity to place your unit in a rental arrangement. SEC regulations restrict the commingling of information so you can make a real estate decision separately from the information given from their management company.

Question: Who stays in Condo Hotels?
Answer: The people that stay in hotels are the same people that stay in Condo Hotels. The only difference is that each unit is individually owned. Units are designed for nightly or weekly stays when they are participating in a rental program. Unit owners, nightly and weekly renters, friends, family, business associates, etc. use the units. It’s entirely up to the owner regarding who stays in the units. It’s their real estate. An example would be if you owned a Condo Hotel next to a theme park in Orlando, but lived full time somewhere else. You could use the condo with your family or loved ones at anytime. You could rent it to others. You also could let a management company handle the process for you and rent it out to vacationers. You could even trade time with others in another city or country. It’s your choice. It’s your property.

Question: How can I rent my Legacy Grand Condo Hotel?
Answer: You have the option to rent the unit out at your discretion. Most investors hire a management company and participate in their rental program. They generally take care of everything from A to Z. The owners will have an opportunity to participate in the developer's sponsored management program.

More information for each condo hotels renting policies and procedures can be obtained through their management company. You must inquire separately from the developer’s sales organization when deciding to purchase with the opportunity to place your unit in a rental arrangement. SEC regulations restrict the commingling of information so you can make a real estate decision separately from the information given from their management company.

Question: What do the rooms look like at Legacy Grand?
Answer: Currently there are a lot of similar unit sizes and configurations. Click on the right for floor plans offered at this time.

Question: What can I do with my Legacy Grand Condo Hotel?
Answer: Property ownership includes the right to: Use it yourself, Loan it to friends and colleagues, Rent it to others, Sell it to others, Will it to family or loved ones, Trade it to visit other places.

Question: Small units vs. large units. Which one is best for me?
Answer: It all depends on your lifestyle and personal goals. If you will use the unit often, ask yourself…..how much space will I need for the time I'm going to spend in it? The amount you have to invest will help determine the unit size too. Some investors purchase multiple units that give them the flexibility to satisfy all their needs.

If someone needs to rent their unit out when not in use, the unit size along with the rent that they desire to receive, may help to decide the unit size to purchase.

Larger units can give a more homelike feel for some owners. Others enjoy a cozy place to kick back in between visits to beaches and theme parks.