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Old 08-12-2015, 02:47 AM
 
137 posts, read 145,190 times
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Business Insider published an article with some of the most expensive rentals in US states - they seem to be residential rentals.
And the one that Tops the Top is in Malibu and can be rented with $750,000 per month.
The most expensive rental homes in America - Business Insider

I can only imagine what i would do with all that money. I would take a trip around the world, dine on a boat, buy fancy clothes and do some charity.
I should probably also invest something (so I don't feel like a spender)
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Old 08-12-2015, 08:04 AM
 
Location: Los Angeles (Native)
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750k a month , that's just 25k a night !
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Old 08-12-2015, 08:32 AM
 
Location: Downtown Los Angeles, CA
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Quote:
Originally Posted by jm1982 View Post
750k a month , that's just 25k a night !
A guy could live in the Atlantis Bridge Suite for that coin.

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Old 08-12-2015, 08:59 AM
 
Location: Los Angeles (Native)
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Yeah I can't wrap my head around people paying that much to rent for a month. I don't know if people rent these places short term or for like a year. I'm thinking maybe they rent them relatively short term or for like a "season"?..

If you are paying 750k a month just in rent , thats $9million a year..in rent.
I'm thinking you probably have to be at the billionaire level to afford that.
I mean even if someone is worth 100million...are they could to spend almost 1/10th their networth on rent for a year?

I find it hard to believe someone couldn't find an amazing place to rent for even a mere $75,000.. a month.
Even in high cost L.A ,
I mean is that 750k month place really worth 10 places that are 75k a month..?
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Old 08-12-2015, 10:12 AM
 
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A lot of these "highest price in the country" list prices are bogus.

Sometimes, realtors or owners will list a property at the highest price. Not because they expect to get it, but because being "the most expensive" gets free publicity. News stories about <i>"See at what the highest priced house/rental in the city/country/world looks like!"</i>

Apart from catching the attention of potential buyers/renters, such publicity is also an ego-boost. Like being featured in <i>Better Homes & Gardens.</i>

The actual buyer/renter will often pay below the stratospheric list price.

I wonder, how many of these featured properties are actually collecting the requested rental price?
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Old 08-12-2015, 10:22 AM
 
137 posts, read 145,190 times
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I think billionaires don't have the same sense of money as us normal people.

If they temporarly move to LA for example, they'd rather pay 1 year of ultimate luxury, than trying to find a rental (or a condo for that price) which doesn't provide it all.
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Old 08-12-2015, 10:23 AM
 
Location: Los Angeles (Native)
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True I wouldn't be surprised.
It's the same way that retail stores want to have a shop on Rodeo drive for marketing/publicity.
Even if that store doesn't really make any money for them.
For a big brand it might be 'worth it' to lose money just to get that marketing/buzz.

Having your name out there as being the type of company that deals with big expensive mansions could add to their reputation I guess.

It would be interesting to see what people are actually paying. I saw a big house (over 4000sq ft) right on the water in Malibu for $80k a month ..even that is insane..but it looks "cheap" compared to 750K.
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Old 08-12-2015, 10:41 AM
 
Location: Los Angeles (Native)
25,303 posts, read 21,454,917 times
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Quote:
Originally Posted by carmenn View Post
I think billionaires don't have the same sense of money as us normal people.

If they temporarly move to LA for example, they'd rather pay 1 year of ultimate luxury, than trying to find a rental (or a condo for that price) which doesn't provide it all.
Yeah true..I'm guessing the target market is billionaires.
There are about 1800 or so billionaires in the world...so it's a pretty small group to cater to.
And of all of those billionaires how many are actually going to want to spend that much per month to rent a place.
A good number of the billionaires like Buffett and others would never even consider spending that much.
They didn't get rich by wasting money.

If you wanna know your billionaire neighbors here in L.A this is a fun list...a little outdated (2012)and some of those are probably even richer today..and some are dead ..but still.
Wealthiest Persons and Families

I think this billionaire couple is the most interesting of the billionaires in L.A

Stewart and Lynda Resnick - Forbes

They own the POM Wonderful brand, FIJI water, hundreds of acres of farmland and many other businesses.
Stewart Resnick's first business was a janitorial company that he grew to millions in revenue.

This is another interesting billionaire L.A couple. The owners of Forever 21.
Their first store was a 900 sq foot shop..and prior to getting into the clothing business the husband pumped gas, did janitorial work and worked in a coffeeshop.

Jin Sook & Do Won Chang - Forbes
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Old 08-12-2015, 01:49 PM
 
368 posts, read 413,253 times
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That 750000 mo/ rental is actually viewable from PCH. As soon as I seen the picture, I recognized it. IMHO, Ive seen much nicer pads than that 1 in Malibu.
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Old 08-12-2015, 04:31 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,454,917 times
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Yeah and they were probably less than 750k/mo too.
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