SOURCE: Luxe List Home

Luxe List Home

June 06, 2012 14:02 ET

Surge in U.S. Demand for High-End Rental Single-Family Homes Drives Expansion at Luxury Rental Site

Luxe List Home Now Features More Than 10,000 Homes, Townhomes, Condos and Apartments Leasing for as High as $100,000 a Month

LOS ANGELES, CA--(Marketwire - Jun 6, 2012) - In response to strong demand for more luxury rental housing options, Beverly Hills-based Luxe List Home, which matches high-end rental clients with prestige properties, has launched a national expansion program to add single-family homes and condominiums to its current list of five-star multifamily luxury rental property listings.

The expanded portfolio already includes more than 10,000 realtor-represented listings that range in price from several thousand to more than $100,000 a month in two-thirds of the 30 metropolitan markets where Luxe List Home now operates.

"Today one of every three American households is renting and more than half of them are renting single-family homes instead of apartments," said Luxe List Home CEO David Doyle. "So we saw an opportunity to help people looking for higher-end rentals find and compare them online."

Nationwide expansion will continue throughout 2012, with international offerings expected to be available in 2013. The company's growth is being driven by a national increase in demand for luxury rental housing and a year-over-year jump in average monthly rents ranging from 2% to more than 10% percent in most major U.S. markets.

"With U.S. homeownership at a 15-year low, we've seen a surge in demand for luxury rental housing accompanied by soaring rents in most major markets across the country," said Alan Shafer, Luxe List Home's chief operating officer. "Luxury renters want to preserve a highly desirable lifestyle in a prestigious living environment without being locked into a purchase. And, due to the uncertainty still facing the U.S. housing market, luxury property owners are happy to lease at a premium today, rather than sell, to preserve the possibility that their luxury property may be worth more tomorrow."

The word "rental" often conjures up the image of a cramped apartment, a run-down duplex or even somebody's basement. But these are blue-chip rentals in a class of their own. Many of the homes featured on www.LuxeListHome.com come with prestigious addresses, manicured landscaping, infinity pools and killer gourmet kitchens in homes with plenty of room to spread out and entertain.

Most people associate bidding wars with a home purchase, but at Luxe List Home they are seeing competing renters offering incentives and inflated payments just to secure a special property.

"In Los Angeles, a luxury single-family home rental that listed for $14,000 per month attracted multiple offers within hours after it was listed," Shafer said. "In the end, although two parties each offered to pay an entire year of rent in advance to close the deal, a third party secured the rental by paying a substantial premium to the lessor over the entire lease term."

At this time, almost half of the rentals on www.LuxeListHome.com are condos or single-family homes, but that percentage is expected to increase as part of the company's expansion.

"We present luxury renters with a targeted list of qualified properties -- the best of the best -- in any given metropolitan area, and that now includes single-family homes and condos," said Doyle. "Now luxury renters, owners and realtors have the option and convenience of a single, targeted online resource to identify, evaluate and distinguish extraordinary luxury rental options."

LuxeListHome.com is the only independent online resource dedicated exclusively to the luxury rental market, and the only online resource where realtors can utilize a patent pending scoring portal to certify their luxury properties as true premier luxury listings.

In 2011, Luxe List Home won the Summit Emerging Media Award for its online rating program, which employs a 200-point scoring system to evaluate luxury rentals. Initially used to score premier multifamily apartment communities, Luxe List Home has now made their proprietary system available to realtors, who by taking a brief survey, can self-score and certify to the public that their rentals meet Luxe List Home's rigorous standards to qualify as a true "luxury" rental.

Luxe List Home now features single-family and condominiums for lease in 20 of its active markets: Atlanta, Baltimore, Charleston, Charlotte, Chicago, Connecticut, Dallas, Los Angeles, Las Vegas, Miami, New Jersey, New York, Orange County, Orlando, Phoenix, Riverside County, San Diego, Sarasota, Tampa and Washington, DC.

About Luxe List Home
Luxe List Home is a premier online residential resource dedicated to connecting luxury rental customers with the finest luxury single family homes, condominiums and apartments in America's best cities. Based in Los Angeles, the firm thoroughly reviews and qualifies luxury single family homes, condominiums and multifamily rentals to be listed on its site. Using its proprietary patent-pending scoring methodology, the company profiles and scores the annual Luxe List Home list of premier multifamily properties. Realtors enjoy the convenience of using Luxe List Home's proprietary scoring module to self-score their luxury single family homes and luxury condominiums listings once they qualify to appear on the site. The firm's proprietary scoring system is derived from extensive consumer research coupled with more than 18 years of luxury residential development and property management experience.

Luxe List Home currently operates in more than 30 major U.S. metropolitan areas, including Atlanta, Austin, Baltimore, Boston, Charleston, Charlotte, Chicago, Dallas-Fort Worth, Denver, Fort Lauderdale, Houston, Las Vegas, Los Angeles, Long Beach, Miami, Minneapolis-St. Paul, New York City, Orange County, Orlando, Philadelphia, Phoenix, Portland, Raleigh, San Antonio, San Diego, San Francisco, Sarasota, Seattle, Tampa and Washington, DC, serving almost 100 cities nationwide. Luxe List Home expects to expand its coverage to 50 U.S. metropolitan areas to serve more than 200 U.S. cities, and select international destinations by 2013. Additional information is available at www.LuxeListHome.com.

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