Resources on Luxury Home Rentals

Luxury Home Rentals

Luxury Homes

Luxury real estate (American English) or luxury property (British English) describes a niche in the real estate market dealing with the highest socio-economic group of property buyers. Since real estate buyers in this group tend to own many homes, the terms vacation property and second home are inaccurate.
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Differences from ordinary real estate
In addition to simply defining and classifying a property, Luxury real estate also carries with it a much weightier responsibility for those who serve the luxury real estate buyer or seller and that is due to the buyer or seller's ability to pay for added services and their expectation for performance of service. For example, a luxury seller expects a real estate agent selling their home to advertise nationally and sometimes internationally in luxury print media whereas a non luxury seller is usually satisfied with very localized advertising and exposure in the local Multiple Listing Service. Many luxury buyers expects a real estate agent to understand how to work with attorneys, trusts and anonymity. They expect a luxury agent to have resources at their disposal when needed that non luxury buyers wouldn't expect. Frequently a luxury home buyer will take a home through multiple inspections (perhaps 10 to 15 if the property is truly an estate), whereas a non-luxury home will typically go through one inspection.

Excerpt from "Luxury real estate." Wikipedia, The Free Encyclopedia. 13 Oct 2006, 18:21 UTC. Wikimedia Foundation, Inc. 29 Oct 2006 http://en.wikipedia.org/w/index.php?title=Luxury_real_estate&oldid=81252028

Renting

Renting is an agreement where a payment is made for the temporary use of a good or property owned by another person or company. The owner of the property may be referred to as the lessor and the party paying to use the property as the lessee or renter. There is typically an implied, explicit, or written rental agreement or contract involved to specify the terms of the rental. Examples include:

• Renting real estate for the purpose of Housing tenure (where the lessee rents a residence to live in), parking a vehicle(s), storage, business, agricultural, institutional, or government use, or other reasons. When renting real estate, the person(s) or party who lives in or occupies the real estate is often called a tenant, paying rent to the owner of the property, often called a landlord. The real estate rented may be all or part of almost any real estate, such as an apartment, house, building, business office(s) or suite, land, farm, or merely an inside or outside space to park a vehicle, or store things. The rental agreement for real estate is often called a lease.