Ritz at Aspen

[romansak]

Hello... need your assistance for Ritz Carlton in Aspen. I am considering buying resale 3 bed unit in Elkhorn...i winter and 2 summer weeks plus floater. Since I am a skier I will be using winter week I would like to know how easy is to rent 2 summer weeks #30 and 31 and what is expected return from rent. Floater ??? Due to very high MF at approx. 25 K I must get a good return for renting summer weeks and possibly float week...
Any comments and suggestions are appreciated

 

[dioxide45]

You may want to check some rental sites like Redweek to see if there are any listings. I don't think there would be that much demand for a summer week to garner something in the $7,500+ range to make it worthwhile. It takes a special kind of market and renter to rent something for $1000+ a night when you can't ski. I could be wrong, but I wouldn't buy something hoping to rent it out and get most of your annual fees back.

 

[romansak]

Thank you... summer rental is a question...maybe some members that travel in the summer will provide some answers....there is hiking, fishing and others activities

 

[vail]

25k for 4 weeks maintenance is high.
If it includes a floater week that will yield a low rental, basically 25k for 3 weeks.
Rentals in summer are easily had for 7k.
So even if you rent both summer weeks, that winter week is 11k for annual maintenance.
Hardly a deal.
Why not just rent the one winter week you want?
A lot less hassle, and probably less expensive?

 

[romansak]

Thanks for input...would be nice to hear from owners that did rent summer weeks...

 

[dioxide45]

Thanks for input...would be nice to hear from owners that did rent summer weeks...

You might need to see if you can find an owner group for this property. There doesn't seem to be that many Ritz owners around TUG.