October 20, 2023
Dear Property Owner,
Earlier this month, Frias Properties transitioned from IQWare to Streamline as our new property management and vacation rental software system. In addition to the new Streamline Owner X portal, this transition will enable us to connect your properties to over 30 OTA channels and create efficiencies within our internal operations.
Coinciding with the Streamline transition, we launched a new website with faster load times, an enhanced user experience, and an improved booking engine. Please review your property online. If you have any changes to your website listing, please email your Director of Operations.
Your September 2023 owner statement is enclosed. This will be your final statement generated from IQWare. Beginning next month, monthly statements will be accessible via the Streamline Owner X Portal. Last week, we sent instructions for accessing the new Streamline Owner X Portal. If you did not receive this email or need help accessing the portal, please contact your Director of Operations.
- David Blumentritt, Director of Operations (West Aspen) – david@friasproperties.com
- Chris Longden, Director of Operations (East Aspen) – clongden@friasproperties.com
- Ben Wolff, General Manager – ben@friasproperties.com
For all questions about fractional rental properties, including the Ritz Carlton, Innsbruck, Aspen Mountain Residences, and St. Regis, please contact Elena Keles at elena@friasproperties.com.
WINTER ‘23/’24 UPDATES
Aspen Snowmass Ski Passes: Aspen Ski Company released their ‘23/’24 season passes last month. To take advantage of “Early” pricing, please click here and purchase by December 1st.
Aspen Mountain Expansion: Aspen Ski Company will unveil Hero’s terrain this winter with 1,220 vertical feet and over 150 acres of new chutes, glades, and trails. This expansion will be Aspen Mountain's first significant addition since the opening of the Silver Queen Gondola in 1985. Opening day is currently scheduled for Thanksgiving Day, Thursday November 23rd.
Aspen X Games 2024: The X Games return to Buttermilk for the 23rd consecutive year, January 23-28, 2024.
FIS World Cup 2024: Aspen will host the FIS World Cup again in March. The FIS Men’s Giant Slalom and Slalom will return to Aspen on Saturday, March 2nd, and Sunday, March 3rd.
RENTAL MANAGEMENT UPDATES
Seasonal maintenance inspections and deep cleans. Frias Properties is amid our off-season maintenance and housekeeping tasks to prepare all rental condominiums and homes for the winter season. Non-rental property owners: While these tasks are performed biannually in all our rental properties, we would happily assist you with any preseason maintenance, window, carpet cleaning, and/or housekeeping services. Please contact your Director of Operations for more information.
Property upgrades deliver additional revenue. Guests select their vacation rental based on the photos and amenities of individual units. While an older property may be in good condition and have a decent rental history, updated properties are the first to be chosen by rental guests booking online and/or across our OTA channels like AirBnB and VRBO. Please let us know if we can assist you with these projects that can generate additional revenue for your rental:
- Smart home systems or surround sound entertainment
- Fresh paint and carpet
- Contemporary décor including furniture, cabinets, appliances, and artwork
- Functional window treatments and blinds
ASPEN REAL ESTATE UPDATE
The Aspen real estate market continues to show signs of strength however the pace has slowed, and we are experiencing a return to normal in this off-season. Like August, September was a strong month for Single Family Homes, with a +15.3% YOY increase in Sold Listings. However, the Average Sales Price dipped -9.5% vs. 2022. Conversely, Townhouses and Condos saw an increase in the Average Sales Price of +15.3% while Sold Listings dipped -35% vs. 2022.
Aspen Single-Family Homes | Year to date 2023 Stats, Through September 2023
- New Listings: -2.3% YOY at 130 listings
- Sold Listings: +15.3% YOY at 68 transactions
- Average Sales Price: -9.5% YOY at $15.1 million (selling at 93.8% of list prices)
Aspen Townhomes & Condominiums | YTD 2023 Stats, Through September 2023
- New Listings: -15.6% YOY at 124 listings
- Sold Listings: -35% YOY at 65 transactions
- Average Sales Price: +15.3% YOY at $5.17 million (selling at 95.6% of list prices)
If you are considering listing your property, please email Tim or Chuck to learn how we can help you find the ideal buyer.
We hope to see you and your families in Aspen this Fall!
Sincerely,
Chuck Frias Tim Clark Ben Wolff
Managing Partner Managing Partner General Manager