The problem with high-end rentals is that they can attract party animals come into recent money, aging rockers who still think trashing a place is cool, executives who rent as "a family" and then use the place as a flop house, or poachers who move in and stop paying rent after a few months. For lower end properties, these "bad eggs" are somewhat random and rare. But at the high end we'd guess that ~30% of renters willing to sign a 60-100K lease are of the sort that landlords will bitterly regret later.
On the other hand there are nice, real executive families on long-term assignment, locals who will act like managers / caretakers of exotic houses, and tenants whom the neighbors will love. The trick is to find them, and avoid the trashers.
As a negative example, we were turned down for a very high-end South Bay property as someone else offered $500 more a month. Among other things, they installed a pole in the huge living room for strippers which cost $30K to repair in floor damage. They defaulted after 2 months, leaving a dented, torn, cigar stinking ruin.
As a positive example, we rented a $20M 7.5K SF mansion on 6 acres of vineyard. Elegant in 1950, it had faded from neglect before it became a rental. Among other things,and all with approval, we repaired chandeliers, replaced crumbling electrical switches, cleaned out a cobwebbed basement, replanted an ¼ acre garden area which had been overgrown, discovered and excavated a large fountain, and in general "detailed" the house and grounds. The place was left a whole lot better than we found it, and we LOVED living there.
The rental agent for that house was JDS Property Management. The previous (and first) tenants were still friends with the neighbors, so we got to meet them. The next tenant was equally good, and so it goes. JDS has a knack for finding appreciative tenants to fit into great properties. Having rented nearly a dozen high-end homes in the South Bay, we have found that JDS has somewhat of a monopoly on the best houses, and best tenants. We rented another house from Donna several years later, another spectacular fit.
Rental agents are bit like a dating service. First they must screen out the dangerous candidates--which a lot of agents try to do, but few have the talent. But beyond culling out the abusive, there is finding the rare/great fit who will love and cherish the house and property. JDS has just this magic, and their clientele and property list are unmatched.
If you are worried about renting a house you have put a lot into, we recommend JDS.
As a tenant, if you are a nightmare sort that should be in an apt complex where you can hate the landlord for sport, don't bother with JDS. read more
