Hotel condos are becoming big business here in the Canmore real estate market, and it's not hard to understand why. These specially-zoned vacation homes offer the very best of both worlds when it comes to flexibility, ROI, and property maintenance.
Hotel condos (also referred to as "condotels", "condo hotels", or "contels") are distinct type of real estate that blends the independence, convenience, and flexibility of owning a condo with the services and perks of a top-notch hotel. These condo hotels give property owners a full-service vacation home which they can, in turn, also choose to take advantage of the marketing and management performed by a hotel chain when the condo is otherwise unoccupied. The hotel then rents and manages the condo unit as it would any other hotel room.
The zoning that governs this type of residential property is unique, to be sure, but works in the favour of the home owner. Referred to as "tourist zoned properties", these properties offer property buyers an chance to own a Canmore property that they can either reside in on a full-time basis or rent to others on a night-by-night term. These tourist zoned properties are sometimes can be located inside a larger hotel compound, with many such complexes offering a "Rental Pool" program that permits owners to vacate their unit in order to make it available for the hotel to use as part of its normal room rental business. Homeowners who to choose take part in this type of rental program find it convenient, low-maintenance, and often use this additional income to offset a portion of the costs that are inherent to owning a condo. Click here to learn more about Canmore zoning.
Want to know more about condo hotels in Canmore? Then contact the team at Canmore.net online or call (403) 678-7600 to find out more!
New on the market this week for Canmore Real Estate investors is this top-floor, 1-bedroom unit at Lodges at Canmore. The complex, located at 107 Montane Road, consists of 3 buildings centered around the stunning outdoor, year-round, heated pool. Situated within walking distance to all of the great restaurants and shops that downtown has to offer, and easily accessible off the TransCanada Highway, this Tourist Zoned hotel-condo is the perfect opportunity to get in to the Canmore market at this entry level price point. Priced well below the average list price for a condo at $324,900, and offering strong financial returns gives investors the unique opportunity to own a great property in Canmore and make a solid return on your investment.
This is a turnkey investment meaning that everything you see is included, including: furniture and décor, kitchenware, bedding/linens. This top floor 1 bedroom unit also comes with a pullout couch in the generously sized living area for those times when you need extra room for guests. The complex is Tourist Zoned and allows for homeowners to opt their unit in to the optional hotel-run rental pool, or manage the property yourself. Flexible zoning also allows for full-time residence in this property although, financing a Tourist home can be difficult.
Discover the incredible features including an open concept living/kitchen area, spacious bedroom with ensuite, in-suite laundry with ample storage, stunning views from your private balcony and more! The complex is complete with some of the best amenities in the Bow Valley including pool, hot tub, and fitness centre.
Contact us now to book a showing!