THE BIG IDEA THE RENTAL REVOLUTION
BORED WITH ROTATING between your same two (or three or four) homes? Tired of searching for a reliable caretaker to handle the minutiae of maintenance? Join the crowd. The corps of high-end renters has grown steadily over the past decade, with the number of rental households with $1 million–plus annual incomes tripling between 2015 and 2020, according to the listing site RentCafe.
Tight inventory and ballooning upkeep costs have only hastened the trend in recent years, with more and more affluent individuals forgoing ownership in favor of the freedom to quickly flit to different cities or neighborhoods, bypassing the headaches that come with owning a primary residence or buying a vacation home. Rising to meet the demand, white-glove boutique agencies, private clubs, and ultra-luxury hospitality brands around the world aim to provide their clientele all the comforts of home with none of the hassle.
Firms such as London-based Richstone Properties take care of everything. Available for one week to a year or longer, each of its properties is outfitted, maintained, and staffed by a chef and a housekeeping team. Pool heater on the fritz? Call Richstone.
