I would be surprised if they were renting the house, as much was made of the fact they bought it with a mortgage ‘like any couple buying their first home’. Articles from the time also say that there are property records showing the house sold at that time to a vaguely named Trust, which shared an address with Meghan Markle’s business partner (link to source for this below).
www.google.com.au/amp/s/www.dirt.com/more-dirt/heirs-heiresses/meghan-markle-prince-harry-house-montecito-1203333111/amp/
However, I am puzzled about the move. I think the pre-sale photos of the house look lovely, but it is a very particular style (exposed wood etc) and if you didn’t like that, you’d need to spend a lot to change it. I remember seeing another photo of the kitchen from a different angle and thinking it looked very dark and I wouldn’t enjoy that being the ‘heart’ of my home.
But still - they haven’t been there long, and they knew all that when they bought it….
Obviously I don’t know how their money sits, but I assume they have a lot of advances for the Netflix, Spotify and book deals, but I also assume they don’t get the next payments until they turn over some content, and with no content for over a year now since the announcements/advance payment, I’m assuming cash is getting lower. Unless it’s funded by speaking at private engagements or being paid to attend private parties that we don’t hear about?
Are they running out of cash for the upkeep of such a big house? Is a big balloon payment due on the mortgage soon that they can’t afford? Or is it the opposite - they have more money (from where?!?) and want to upgrade?
Or might not be about money at all - they might want to move to New York or Washington to pursue politics and a different crowd of people?
Or….what? It doesn’t make a lot of sense.