The celebrity landlord

The buy-to-let holiday home is now attracting a different set of landlords as many property owners realise the lease potential of their second or even third homes and the very short term lease of property is attracting many landlords who want to make an extra income form their property portfolio.

Yet its not just your average property buyer who hitching on to the holiday home let bandwagon, many celebrities who own multiple houses across the globe have taken to leasing out their pieces of paradise to the discerning and affluent tourist to make use of the their homes full potential.

If like Richard Branson you may only get to spend a few weeks of the year on your privately owned 74 acre Necker Island in the British Virgin Islands, it makes sense to charge £8, 000 a week to someone else to enjoy its infinity swimming pool, housing staff, private beach, yacht and giant tree house and Pierce Brosnan's pad in Kauai, Hawaii will also be able to boast famous neighbours Ben Stiller and Sylvester Stylone.

Mick Jagger on the other hand has set up the Rolling Stone property company that rents out his exclusive Mustique complete with koi pond and Japanese pavilion all included in the £10,000 price tag. On the other hand the producer of the Beatle Sir George Martin has learnt that to truly receive the best income from his star studded house in Montserrat is to turn it into a guest house at the more reasonably priced £50 a night.

Either way, many celebrity landlords are interested in letting their home to add to their fortunes, but are reluctant to take on all the daily worries of the average landlord. This partly explains the rise of the exclusive letting agent to match both the elusive landlords and wealthy tourists. Lucy Russell form Quintessential Estates manages the entire course of the letting process on behalf of her clients.

As she explains her clients don't let out their houses to add to their income, but merely to help compensate the costs in the upkeep and maintenance of their global properties. Either way if you had the money a week adrift in the carefree Necker Island with on hand masseuse is an extremely attractive proposition to anyone.

Insure My Let Property provides let property insurance for landlords across the UK insuring buildings insurance cover for all types of houses and properties which are leased to tenants.

August 24^th 2009

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