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Jessica C. Campbell works with clients who don’t think the rent is too damn high.
Working at Nest Seekers International, a Manhattan brokerage that specializes in high-end rentals, it’s not uncommon for her to work with clients who pay more in rent than many nearby homes would cost to buy.
“My exclusive listing at 66 Ninth Avenue, Residence No. 6 at nearly 5,500 square feet, a full floor masterpiece, traded for $175 per square foot last month or $70,000 a month,” Campbell said.
Aaron Kirman | Aaron Kirman Group
From a private island that rents for $69,000 a night to apartments in Manhattan and Los Angeles that routinely rent for over $100,000 a month, there’s a growing list of clients willing to pay top dollar to rent and agents ready to generate multimillion-dollar businesses serving people who are renters by choice.
“With the world as global as it is and the fact that people can work anywhere, even the wealthy are no longer chained to offices,” said Aaron Kirman, a Los Angeles-based agent who specializes in luxury properties.
While he often lists homes that are worth up to $150 million, Kirman said he also works with luxury clients looking for rental housing.
“The business got even larger after COVID,” he said.
At a time when Americans have grown used to working from anywhere and moving from one city to the next, builders, companies, luxury homeowners and real estate agents are capitalizing on a segment of the market that can and will pay more to stay at a house for a week than the median price of a home in the U.S.
The $69,000-a-night place to stay
Musha Cay at Copperfield Bay in the Bahamas offers travelers a short-term place that was named the most expensive listing on Airbnb.