Jennifer Billock
·3 min read
Have you ever been completely fed up with renting or owning and started to think about how much easier it would be just to live in a hotel? Turns out, it’s possible — and a lot of people do it when certain circ*mstances prevent them from living in their own space.
“I have had clients stay in hotels while their apartments are completed, or while they wait for their leases to begin,” says Nicole Beauchamp, a real estate broker with Engel & Völkers. “I’ve similarly had clients who have had to move into hotels or private clubs as a result of damage to their homes for a period of time.”
Plus, some people may just want to live in a hotel, and have all the amenities at their fingertips. But let’s get into the nitty-gritty. Here’s how you can do it — and whether or not it’s cheaper than owning or renting your own place.
Can you permanently live in a hotel room?
Technically, yes, you can permanently live in a hotel room. Some resorts sell rooms for people to buy, but you’ll have to be around other hotel guests regularly. Nita Max, a managing broker at Sotheby’s International Realty, owns her condo at Naples Bay Resort in Florida. She says they’re able to enjoy all the same amenities hotel guests have, and that living near guests can bring a contagious joy from the traveler. But sometimes those guests can be awfully loud — but luckily they’re usually gone in a week, Max says.
For non-resort hotels, you can still pretty much live there, but you’ll need to keep a couple of things in mind.
“Sometimes, hotel and local government policies may put limits on long-term stays, and it certainly won’t be treated as a traditional renting situation as far as renter and landowner rights go,” says Chris Allard, founder and lead mortgage broker at Chris Allard Mortgage Team.
So if you need that security, it may be worth looking outside a hotel for a home.
What’s the longest you can live in a hotel room?
The longest you can live in a hotel room depends on both the hotel and the state you’re in. Usually, it’s around 28 to 30 days, and then you have to check out. But if you have a previously arranged situation with a hotel, you can often check right back in (assuming they have the space) for another 30 days. In Arizona, for example, hotel owner and real estate investor Nichole Stohler says, guests must check out after 28 days to avoid tenancy complications. Extended-stay hotels often have similar policies, but the minimum stay is typically 30 days.
Is it cheaper to just live in a hotel?
Ultimately, there aren’t many situations when living in a hotel is going to be cheaper than your rent or mortgage payment. Consider that the average hotel room cost is estimated at about $150 per night. That adds up pretty quickly, and mortgage and rent payments are generally cheaper than that $4,500 per month in hotel costs. But, Allard says, “in the short term, it may be more feasible if you do not have a down payment saved and can only make monthly payments.” Essentially, you’ll need to weigh your options and your living situation carefully, and then pick what works best for you for the time being.
