Who is renting these properties??!!

[Rinoachicken]

search.savills.com/property-detail/gbsureclv208222l

So DH and I like to be nosy at what’s on the housing market.

We keep coming across huge houses like the one linked, massive mansions, pools, 1bedrooms etc, fully furnished, available to RENT for £30,000 a month!

WHO is renting these properties??!!

I assumed they would be marketed for film and tenor something. But no! They are marketed as family homes…with underground parking for ten cars??!!

If you are that wealthy that you can afford £50k for a deposit and £30k per month, surely you’d just buy your own place?!

The stamp duty on, say, a ten million pound house would be about £1.2 million I think. And that’s if it is your only property. If you’re not expecting to live somewhere for a long time it probably makes more financial sense to rent it rather than pay that when you want to sell.

Russians and Arabs

Yep lots of footballers live near me in rented houses that cost ££££ per month. I guess it makes sense if you don’t know whether you’re going to be around for long

Those of us who are on low-average incomes but have, by dint of inheritance/being a bit older/other, managed to get on the property ladder, truly value having a home that can't be taken away from us (as long as we don't default on the mortgage) and, one day, will be ours outright. However, being a homeowner comes with responsibilities - financial and other - and means that you can't easily move at very little notice.

The monumentally rich just don't have to care about any of this, if they can shift a lot of the responsibility to somebody else, yet still have a magnificent house at their disposal, in return for paying the equivalent (to the rest of us) of a fiver a month.

I remember reading some time back about an underground parking space in the middle of Knightsbridge, occupied by a very expensive Rolls-Royce (or similar - can't quite remember) that belonged to a mega-rich Arab sheikh, who hadn't visited the UK for 20 years. I don't know whether he had bought or rented the space, but either way, he was throwing away a colossal fortune for no apparent benefit whatsoever. Nevertheless, it was pennies to him, with his wealth, and maybe he liked to know (or just boast at opulent parties) that, if ever he did decide to visit London, he had his own car and guaranteed parking space ready and waiting for him; and I suppose, if you move in his circles, a Mondeo in Brixton doesn't really cut it. He probably had the exact same set-up in New York, Tokyo, Rome, Sydney, Rio etc. - if you're that rich, I suppose you have to find something to spend it all on.

Plus getting so much capital tied up in property which probably won’t appreciate much very quickly & will be difficult to sell on (and will also cost you in maintenance and possibly repairs) probably isn’t a wise financial move. I would imagine there are better returns if you invest in other things

I just can't fathom the amount of wealth some people have. It's almost sinful.

That's so weird. My DH and I were just having same conversation today. What a waste of money on rent each week!!! The house you've shared isn't even that nice! Some of the rooms are quite bizarre 😳

Very rich people love renting.

The monumentally rich just don't have to care about any of this, if they can shift a lot of the responsibility to somebody else, yet still have a magnificent house at their disposal, in return for paying the equivalent (to the rest of us) of a fiver a month.

Yep

Lots of footballers rent, especially if they move around but it’s actually quite hard for many sports people to get a mortgage.

I know whoever rents this won’t care but the listing says that 2 council payments are due on this property - how does that work?

I know (genuinely know) half a dozen multi millionaires - (self made, and inherited,) and they would never, and I mean NEVER spend this on renting a place. £30,000 a month rent is hilariously ludicrous, and only the 'not hugely intelligent,' or very showy people (with more money than sense,) would pay this ..

I don't think that's true at all. There are many reasons why the uber rich would chose to rent. For one they are often very mobile. I find the whole looking down on renters snobby attitude very strange. For some 30k is pocket change.

Some friends moved to San Fran as she's a tech whizz, the company paid 15k a month for their rental.

Rihanna was paying £18,000 /per week for her London rental!

she's apparently worth $600m & the richest female musician so pocket change.

The one linked in the OP is gorgeous from the outside but the inside is bloody awful. And it looks grubby.

@MrsKrystalStubbs

Also people who want to live in the UK but don’t want any UK assets that will affect their tax domicile. Being mega rich is complicated.

It's tough being a reptilianaire

Na My cottage beats that monstrosity, after all who needs a pool when you can have an indoor waterfall when it's pissing with rain any day

That house in Virginia Water is horrible, ok on the outside but oh my, the decor!

Professional footballers often get a relocation package in their contracts including if they’re out on loan so something like this would be covered.

Harry Kane pays £15000 a WEEK apparently 😯

It doesn't really seem like a home inside does it? More like an American hotel. I don't think I would like to live there. #MissesThePoint

😱

That's all I have to say.

Businessmen/business women don't need to purchase houses and be tied down or to get caught up with tax. Also, the tenants can come from really wealthy families from abroad for business or studying purposes and don't need to buy the actual house but can rent a house like this for a short period of time where their living standards can be similar to where they come from. So basically:

Rich diplomats
footballers
Actors/actresses/models and even an agency use
Filthy rich people who have a shadow that they are running away from or tax reasons
Bankers
Russians and Arabs who have more money than sand grains across the world

Overall, 30k to them is like 30p or 3p to us.

It’s just a whole new level of wealth that’s completely beyond my comprehension. I rent, I live in a council property, I’ll never be able to buy.

I just cannot even imagine having even half that amount of money, let alone it being surplus enough that I could spend £30k on rent per month and still have probably twice that left over to live off.

And yes to whoever said they don’t feel like homes, a house so big it probably take 15minutes to walk one side to the other. Can you imagine how long it would take to find your keys and phone in a place that size?!

Or maybe that’s what the butler is for?!