Stoneridge Canmore for Sale – Everything you need to know about Hotel Condos
Stoneridge Canmore for Sale – Hotel Condo Real Estate
Stoneridge Mountain Resort properties for sale are consistently in high demand in Canmore. Whether you’re a visitor on a ski trip, a family attending a wedding, or anything in between, Stoneridge is a top pick for a place to stay while you’re in town!
When it comes to investing in Canmore real estate, for most discerning buyers Stoneridge is one of the best options available. With fantastic amenities and excellent potential for passive revenue income, its no wonder so many investors choose to have a place here for fun and returns.
In this article, I’m going to cover the essential things to know when considering Stoneridge condos for sale. If you have questions about specific properties listed at Stoneridge (or other Canmore properties), please feel free to reach out to me directly. I’m always happy to help you make sense of things before making any decisions. I’m just a call or text away!
In this article:
- Stoneridge Resort Stats & Amenities
- Condo Fee inclusions
- Rental Pool details
- Is there Fractional Ownership Stoneridge?
- Can you Airbnb at Stoneridge?
- My Property Rating
Stoneridge Resort Stats & Amenities
Stoneridge Canmore is set on a beautiful property in the Bow Valley Trail / Kananaskis Way resort area near the centre of town. Just steps from trails, downtown shopping and restaurants, its has a fabulous location for you or your guests to explore Canmore from.
The array of amenities make the resort extremely popular for couples, families with children, and business travellers.
Stats:
- Zoned for nightly rentals only (recreational/visitor accommodation/hotel condo). NO full time or monthly rentals.
- Stoneridge is located in ONE building, at 30 Lincoln Park, Canmore.
- The front desk and most amenities are located just off the main lobby entrance.
- There are 110 units at Stoneridge in total.
- There are 1, 2 & 3 Bedroom units throughout the property, plus 1+den and 2+den units.
- Assigned storage lockers available on a request basis (not titled).
- Pet friendly.
- Keycard system with all unit door keys coming from the front desk.
- Self-managed units (via Airbnb/VRBO) can have their door lock switched out to a keypad, with condo board approval.
Amenities:
- Outdoor heated Pool & Hot Tub.
- Secure, heated underground parking.
- Fitness Centre / Gym with cardio equipment & weights.
- Black Dog Cafe for convenient onsite coffee, beverages & food!
- 24 hour front desk & Business Services for Stoneridge Guests
Condo Fee Inclusions – Stoneridge Canmore
Regardless of whether the property you purchase is in the turnkey rental pool or managed by a 3rd party (ie. Airbnb or VRBO), it will be part of the condominium corporation. A condo corporation is a non-profit means of managing the shared assets and property for a condo-style development. Every unit at Stoneridge pays a condo fee, based partially on its size and “factor” or share of the common costs. The condo board and corporation are managed by PEKA.
Condo fees at Stonerdige are reasonable, with lots of inclusions:
- Condo Insurance (for the building; not contents or personal insurance)
- Water/sewer/garbage
- Electricity
- Natural gas/heat
- Snow removal/landscaping + window cleaning
- Phone, Internet & TV (cable)
- Professional management + reserve fund contributions
Rental Pool details at Stoneridge
The rental pool is professionally managed by Clique Hotels & Resorts. In my experience and based on the experiences of my clients who’ve bought here, Clique is possibly the top manager in town for hotel condo properties. They understand guests and owners alike want well-kept public spaces & amenities.
With any rental pool, fees & costs will be higher than if you were to self-manage your own unit. Some investors and owners tend to see this as a negative – but depending on your goals, it can actually be a really big positive. When your unit is in the rental pool, it makes it a truly turn-key investment where you often have little more to do than receive a cheque each month. The rental pool makes for a safer option too, as all units compete together against other hotels and rentals in town (vs. each other).
Quick rental pool facts:
- Management fee approximately 45% of gross revenue.
- Earn revenue *regardless* of whether your unit is rented or not – the pool shares all revenues.
- Fee includes nearly everything: management, marketing, housekeeping, some maintenance, front desk, accounting, etc.
- Contracts vary in length depending on sign date; can require 90 days notice to remove your unit from the rental pool.
- Upon sale however, the rental pool agreement is terminated, and the new owner may decided whether to join or not.
- You can’t make changes to the unit decor and furniture, to maintain product integrity when its in the rental pool.
Is there Fractional Ownership at Stoneridge Canmore?
To my knowledge, Stoneridge does not offer fractional ownership units.
Can you Airbnb or VRBO at Stoneridge Canmore?
This is a questions I’m sure many buyers and current owners will be wondering. Can you do Airbnb or VRBO at Stoneridge? The answer is YES!
If your unit isn’t in the rental pool, you can self-manage it. This means you could operate it as your own “hotel business.” When you choose self manage or work with a 3rd party management company, you have a lot more say in how things operate and decor. This can be more rewarding, but it can also be a bit more work. Some notes on self or 3rd party management:
- Lower management & cleaning costs through a third party (20%-40%) increase margin potential.
- Improve margins further by managing it and even cleaning it yourself (if you’re in town).
- More Risky: You are in a highly competitive market – if your unit doesn’t rent, you don’t earn revenue!
- Opportunity for creativity and excellence: Great pictures, decor, reviews and a write-up will make your unit stand out from the competition!
- Unique units with amazing features tend to be favourites on Airbnb. Guests love great decor, views and neat roof lines.
My Property Rating – Stoneridge Canmore Condos for Sale
Stoneridge has to be one of the premiere and most sought after hotel condos in Canmore (maybe even the most). It’s not hard to see why: it is well managed, has great amenities, and the units themselves are in fantastic shape. Take a float in the heated outdoor pool and think of all the revenue possibilities!
Overall, I would grade Stoneridge as an A investment property in Canmore.
Is an investment property in Stoneridge the right condo for you? Let’s connect and discuss your options! I’m always happy to answer any questions you have regarding properties here, or anywhere else in Canmore. Working with an experienced and recommended Realtor you can trust will ensure you get the most out of your next local property purchase. Let me be your boots-on-the-ground! Cheers.
Like this post? Check out some of my other articles to learn more:
Solara Canmore for Sale – Everything You Need to Know about Hotel Condos
How to own an Airbnb in Canmore
Note: this article is for general informational purposes only and does not replace official agreements/information from management companies, or constitute advice. While all efforts have been made to ensure the accuracy of information at the time of writing, things can change and it may be updated from time to time. If you have questions about any specific property, let’s connect so I can ensure you have the most accurate information available.
