Renting Luxury: Stories of Authenticity
Italy is the country that more than any other offers a great variety of real estate forms, reflecting an unparalleled beauty and variety of landscapes. Castles, palaces, villas, farmhouses, masserie, masi: Italian mansions take on many different names and many different forms.
For those who inhabit it, their dwelling is not simply a physical space bordered by walls, embellished by gardens and views that have become familiar over time: every dwelling, especially a historic one, is a story that goes far beyond the concreteness of stone, wood and brick. It is precisely these stories that make Italian mansions unique. Sometimes they are special stories, linked to famous events or personalities; many other times they are anonymous stories, but no less interesting and appreciated.
Those who "by luck or art" have such a dwelling know well the enchantment they derive from it, but at the same time also the commitment required to keep it always beautiful, hospitable and in fully functional condition. No one wants to be the one responsible for the decay of something that has been handed down over decades or even centuries, but it is not uncommon that in the face of increasing economic commitments maintenance can be "slowed down" especially in cases where that property has remained only a source of joy and not also a source of income.
Leasing is certainly the most common income-generating model for dwellings of this type.
The Luxury Vacation Rentals (hereafter LVR) market is a global market within which Italy plays a major role. In fact, there are many countries from which customers interested in living an "Italianate" experience come every year.
In practical terms, the expectation of an LVR user is qualified, on the one hand, by the prestige of the properties; on the other hand, by the services and experiences around that property.
In a world where experience is increasingly at the center of purchasing decisions, we are seeing a trend whereby the first feature (prestige) is considered an "a priori" that is, something necessary, taken for granted, while true guest satisfaction comes precisely from the living experience one has been able to create in and around the dwelling.
It is increasingly clear that for something to be perceived as "alive," the characteristic that must innervate the whole experience is that ofauthenticity. Those who can afford a lot reject an idea of undifferentiated luxury, always the same as itself because it lacks connections to where it is.
Unlike homes that live exclusively for rent, residences that remain cared for by their owners retain their authentic charm and the warmth of the lived-in home by offering the unique style you continue to love by attending your home. This is the true element of authenticity capable of attracting the more affluent clientele who appreciate being fully immersed in Italian culture.
Thus, a new opportunity for extraordinary homeowners is emerging from the LVR market: to combine direct use with renting for a limited number of weeks. This initiative offers a fresh perspective for those who wish to increase the potential of their exclusive residences without losing possession through constricting contracts.
Making one's homes available for short periods not only allows one to enhance their value by creating an ongoing source of income, but also offers the opportunity to build new relationships with people who share a great love for Italy.
Creating this possibility requires a team with diverse skills capable of:
- prepare the house to accommodate a very demanding international clientele by imagining a suitable storytelling;
- Attracting and selecting guests from the world;
- imagine and provide the intra- and extra-moenia services to make the sought-after experience of Italian-ness a reality;
- manage the technical, legal, and insurance aspects by assuring landlords that the entire rental process is not only compliant with legal regulations, but also safe by allowing them to enjoy the economic benefits without being encumbered by other concerns.
Accessing this opportunity generates not only significant income, but also increases the value of the property itself in anticipation of possible future sale.
Through this type of leasing, the house will gain notoriety among the world's economic elites, and its ability to generate income through a mixed use-rental model will make it more attractive in the eyes of potential buyers who will most likely have an interest in replicating the same model.
We would be happy to share more information about this activity with you.