Topsail Island Condos

Frequently Asked Questions

Tiffany’s Condos are a part of the Tiffany’s Condotel complex located in Surf City, NC. A condotel is relatively the same as buying a condominium. Condotels provide an affordable opportunity for many to enjoy the coastal Carolina lifestyle. Condotels are fully staffed and managed as a typical, full-service motel. As the owner of a condotel unit, you will have the opportunity to enroll your unit in the motel's rental program. While you aren’t able to use your condo, it can be rented out by the on-site management company.

Q. How does owning a condotel (condo-motel residence) differ from owning a traditional vacation apartment or condo?

A. As a condotel unit owner, you are privy to the opportunity of using the motel amenities. At a normal condo project or vacation apartment site, you have to find things to do with your time and plan a vacation within your vacation. In addition, there is no worry or hassle involved in condotel ownership. Housekeeping, maintenance and inspections are handled by the management team at Tiffany's condotel.

Q. How do condotels differ from timeshares?

A. Condotels are not like buying a timeshare. You possess whole-ownership in a Tiffany's Condotel unit. At a timeshare vacation destination, you are a very small owner with only a right to a use. When you own a Tiffany's Motel unit you are the only owner and receive an actual deed to your property.

Q. Who is buying condotels?

A. Individuals interested in worry-free beach ownership. People examining the condotel concept are also interested in an entity that could appreciate in value. It is a vacation destination and one of the best real estate locations.

Q. How will the management decide which condotel to rent and how often?

A. The computer system automatically balances the room inventory i.e. it will rent 101, 102, 103, etc.,

Q. How do I reserve my unit or units?

A. To reserve your unit, contact us at tiffanysmotel@nc.rr.com.

Q. What expenses can I expect to incur with ownership?

A. Usually, aside from your mortgage payment (if the unit has one), monthly assessments are issued to cover maintenance of the units and common areas, utilities, insurance, taxes and a reserve fund. These assessments range from $171 to $291 based on the size of the unit.

Q. Can a condotel be financed?

A. Yes it can, just like any other condominium. Sea Coast Realty has a list of mortgage brokers. They will help you finance very easily your condotel. Please contact them for that.

Q. Can I make a 1031 exchange with a condotel?

A. Yes, actually the condotel has become a favored exchange property to effect tax free exchanges under Internal Revenue Section 1031 and to facilitate the enormously popular tenancy in common (or TIC) market.