Between the international Covid-19 pandemic, ongoing geopolitical events, and skyrocketing oil prices, the global economy is widely thought to be in a precarious position for the months ahead. This macrocosmic issue is even more palpable on the microscale and is especially visible in the United States, where experts say a national recession is all but inevitable – and to some sector specialists, said recession has already arrived. The result? Even the U.S. industries that held strongest throughout the pandemic are beginning to splutter and fizzle as the recession’s economic effects become more obvious with every passing day. The real estate sector certainly has been no different, as the sky-high property values seen across the country over the course of the past two years have already begun their downward descent, and once-motivated buyers have been put off by fast-climbing mortgage rates.
For established homeowners, however, the recession has brought forth a wealth of new opportunities to utilize their assets as rental properties. As your average consumer becomes priced out of their potential to purchase a property, the demand for rentals increases, in turn, making the recession-era a perfect opportunity for homeowners across the country to maximize their initial return on investment. This effect is perhaps most demonstrable in one of the United States’ most competitive property markets, Los Angeles, where celebrities, high-net-worth individuals, and superstar athletes in need of high-end properties may be put off by the prospect of ownership. From the annual grand tour schedule of professional sports to the intense international filming schedules of silver screen stars, owning a property in the expensive L.A. area may be out of the question; when it comes to short-term stays, the 2022 luxury rental market provides the perfect solution to high-profile people’s unique demands and the region’s homeowners alike.
At the crux of this transformational luxury rental market is Million Dollar Luxe, Los Angeles’s premier concierge service to the stars and high-net-worth individuals that’s become renowned for its short-term luxury rental services. Rather than find a run-of-the-mill property without any personalized details, Million Dollar Luxe bends over backward to ensure all of its high-profile clients’ demands are met – including finding mouth-watering private chefs, chartering exclusive private planes, arranging over-the-top flower deliveries and staying readily available to satisfy any every whim necessary to making their patrons’ stay shine.
It all starts with Million Dollar Luxe’s extensive roster of L.A.’s most prolific homes, as the team sources the creme de la creme of properties from this elite pool to cater to its clientele’s lengthy wish lists. With its trademark attention to detail, the Million Dollar Luxe handles everything from minor repairs to chic staging all the way to adding luxe hospitality touches across the home to create a short-term rental that’s not only move-in ready, but truly feels like home. Properties like Trousdale Grand offer Million Dollar Luxe renters breathtaking views of Beverly Hills, and is equipped with the indoor-outdoor living elements oh-so-desired by the Los Angeles crowd – a feature perfectly punctuated by the property’s sparkling pool. The home’s seven bedrooms are spread across one single story, each of which is filled with sumptuous natural light and sophisticated furnishings.
Additionally, this hands-on approach allows the owners of Million Dollar Luxe’s rentals to rest assured that their homes will be kept in tip-top shape and only inhabited by trustworthy, vetted clients – a must, considering L.A.’s notorious party scene. Now, as the recession continues to send the L.A. housing market into a tailspin, Million Dollar Luxe, and its renowned luxury short-term rental service, is anticipated to come out of this international economic downturn on top.
Presented by: Prestige Perfections