Stowe, Vermont has always been a desirable destination for vacation, as well as for investing in real estate. Vail Resort's recent purchase of the Stowe Mountain Resort's ski operations has had an additional impact on growing interest in the area, year-round. Increased buyer demand, in many cases, includes the desire to rent which is a great way to generate income during the year when you, the homeowner, are not using the property yourself.
Stowe has seen condominium sales, as well as prices, rise since the news broke about Vail Resorts purchasing Stowe. If you are thinking about purchasing and renting, or perhaps you are already doing so, there are some important things you should know to ensure your and your renters safety, as well as any potential liability you may have when renting:
- 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 us 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.