Condos are steadily becoming opportune investments in the short-term rental market, more so in recreation destinations such as Kelowna. For those looking to buy a Kelowna condo for a vacation property, AirBnB rental or other short-term rental opportunity, our agents will help you identify stratas that fit your needs, and refer you to property management businesses to better protect your investment.
Amenities can vary, but common ones in luxury condos or strata properties may include a fitness center, swimming pool, spa, concierge services, rooftop terrace, private gardens, lounge areas, and sometimes even a business center or theater room.
Luxury condos and strata properties typically prioritize security. They may have controlled access systems, surveillance cameras, security staff, and secure parking areas to ensure the safety of residents and their belongings.
The monthly maintenance fees cover expenses related to the upkeep of common areas, facilities, and shared services. This can include landscaping, maintenance of amenities, security, utilities for common areas, building insurance, and sometimes even in-suite maintenance.
It's important to inquire about any upcoming special assessments or major repairs that may impact the residents financially. This information will help you understand the potential costs you may incur beyond the monthly maintenance fees.
Luxury condos and strata properties often have guidelines and restrictions regarding renovations or modifications to maintain a consistent aesthetic and protect the building's structure. It's essential to review the bylaws or consult with the property management to understand the specific limitations.
Pet policies can vary. Some luxury condos or strata properties may allow pets with certain restrictions, while others may have strict no-pet policies. Check the building's rules and regulations regarding pet ownership.
Find out about the parking arrangements available. Luxury condos may offer designated parking spaces or underground parking. Some properties may charge additional fees for parking or have limited parking availability.
Some luxury condos or strata properties may have restrictions on renting out units, such as minimum lease terms or limitations on the number of units that can be rented. It's important to understand the rental policy if you plan to rent out your unit in the future.
It's crucial to inquire about any ongoing disputes or legal issues that may impact the property's value or affect the residents. This can include issues related to the homeowners' association, neighboring properties, or proposed development projects.