Stowe has seen condominium sales, and prices, rise significantly in the last two years. Much if this is attributed to the announcement of Vail Resorts purchasing Stowe. The popularity of websites such as Airbnb and VRBO have created a new market for condominium and single family home owners to rent properties when not in use, or make investments as income producing properties. If you are thinking about purchasing and renting, or are already doing so, there are some important things you should know to ensure your and your renters safety:
- Make sure to contact your insurance agent to include extra coverage for renters
- Make sure to have the proper smoke and carbon monoxide detectors installed. In Vermont photoelectric smoke detectors are need to be in every sleeping room
- A rental property falls under Vermont State safety requirements, so you will need to have a Fire and Safety inspection. For more information go to the State website here: http://firesafety.vermont.gov/
Please feel free to contact me any time regarding any questions you may have about anything that may relate to investing in properties, and/or renting. The Town of Stowe is in the process of adopting some of these, and additional rules and regulations, so we can update you as well as guide you through this process, along with providing any key contacts to ensure your property is up to code and regulation.