• 11 Cornwall Terrace
  • 11 Cornwall Terrace
  • Buff and Hensman House, LA. Photo: PostRAIN
  • One Hyde Park

Renting, Billionaire Style

House-swapping with a perfect stranger would’ve been something that sounded like a less-than-ideal accommodation 10 years ago, but the new variety of vacation offerings feels more like an exclusive membership than a budget-friendly getaway. The Telegraph has even dubbed it “Generation rent, billionaire style”.

Billionaire.com traveled inside the in-demand legion of luxury rentals, the likes of which have completely upended the vacation real estate industry. These aren’t homeowners who leave a key under the mat and milk in the fridge; these luxurious getaways instantaneously create the personality, tranquility, and authenticity people pay thousands of dollars for at high-end hotels. Now, instead, they’re going right to the townspeople.

Speaking with Giles Adams, 3rd Home partner and president, Billionaire.com dove headfirst into the realm of second-home exchanges. Adams first forayed into the industry in 2009, sharing, “Affluent people who acquired luxury discretionary assets during the boom, or who had inherited them, didn’t mind them sitting empty when all was rosy and tickety-boo. But people had started to look at things differently. If their hard-earned cash was being squeezed, we thought setting up a club would enable them to get more value from their assets.”

Now, the experience is all about the individual. Adams shared, “interaction between hosts is crucial,” adding this type of personalization is “something a hotel concierge simply can’t arrange, no matter how good they are.

“Our members love to help each other out; they’ll say ‘while you’re in town, visit this super little restaurant, it’s off the beaten track — ask for Luigi and say Maria sent you’. At one of our Bulgarian villas, the family puts together tailored excursions, there’s a kitchen garden for produce and all wine is made in its own vineyard.”

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