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Luxury Auckland home rents for $5,000 a week

25 November 2008

Luxury Auckland home rents for $5,000 a week

An exclusive Auckland home that recently sold for more than $6.5 million is now being rented out for $5,000 a week, reflecting an emerging trend for high-end city home owners to offer their homes as luxury rentals during absences.

Leading real estate company Bayleys is renting the stunning six bedroom home in the upmarket suburb of Remuera to a British family for a short-term period at a rate typical of holiday home rentals, but a near-record rate for the company that usually deals in long term rentals.

Bayleys sales consultant David Rainbow of the Remuera office set up the rental deal. The owners of the home had purchased the property through him, and phoned to ask if knew anyone who could rent the property over the summer while they were away. Co-incidentally, he did, after receiving an inquiry from someone looking for a prestige rental property for family members visiting Auckland on holiday. Quickly, the match was made.

“I have leased properties like the before, usually to corporate clients travelling for business. This home is unusual because it is in effect a holiday rental, and was done as a courtesy service to good clients. They do not need the money, but were simply following the trend in countries like the U.S. of keeping valuable properties occupied during the owners’ absence, so the homes aren’t a target for crime. It’s an emerging trend here, and a sensible one,” Mr Rainbow said.

“The rental is also a wonderful arrangement for the visiting family – they called me out of the blue, knowing I sold high-end properties, figuring I might know of a nice home they could rent without them having to search hundreds of listings on the internet. They were quite happy to book this fabulous six-bedroom home for a cost similar to a nice hotel suite,” Mr Rainbow said.

The high-end rental may be a sign of things to come for property sales and management firms like Bayleys, with multi-million dollar properties to rent and overseas visitors looking for personalized service in booking a place to stay in the city.

Luxury holiday homes can be rented on web sites like in a similar price range -- a furnished 4-bedroom home in Kohimaramara is advertised at $570 a night, or a bit less than $4,000 per week --but without the concierge-level matching service or local advice.

Furthermore, Mr Rainbow says, “most holiday homes are in more remote locations not suitable for people visiting family in the city.”

Bayleys residential property division manager Darryl Goode, said: “This is an unusual arrangement because of the specialized service to these clients, and it is well ahead of anything we have seen for years. Rentals like this don’t come along every year…nor do tenants.

“The property is unusually large and luxurious and will provide this family a wonderful holiday experience. We specialise in property management of high end properties, but this kind of demand may set a precedent for similar deals to come,” Mr Goode said.


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