As the sharing economy takes off, people are making the most of their assets whether its carpooling, Airbnb-ing, hiring out their power tools and even exchanging luxury homes worth millions of pounds.
By Judith Baker
New laws passed in the UK in March mean UK residents can share their homes with guests from all over the world, boosting the growth of the ‘sharing economy’ which was identified by PWC in a recent report (PWC Sharing Economy Report) highlighting the importance of this, saying,
‘Around the world, a new wave of peer-to-peer, access-driven businesses is shaking up established categories. Whether borrowing goods, renting homes, or serving up micro-skills in exchange for access or money, consumers are showing a robust appetite for the sharing-based economy.’
This weekend in Sussex there will be a BBQ party for clients of Clive Christian, Tesla Cars and 3RD HOME, at the Clive Christian showroom in Forest Row in Sussex. I met up with Giles Adams of 3rd Home in the week and heard about his exciting business which allows members to stay in unique and sought after properties all over the world, from palaces to chateaux and luxury villas.
A 3RD HOME HOUSE IN ST LUCIA
Worth in their millions, the properties would normally cost up to £10,000 a week to rent, but through providing time in their own second homes, members can stay in these fabulous properties for a fraction of that cost.
Giles Adams says he saw an opportunity during the economic downturn in 2009 where owners of assets acquired during the boom times were struggling to live the same high lifestyle, and the home exchange gave them an opportunity to transfer that ‘grey value’ in the down times. Now 3rd Home has 3,500 properties on its books in 73 countries, ranging from the Lebo Private reserve in South Africa, a 20,000 acre private reserve owned by a British entrepreneur, to the King Edward VIII estate in the Bahamas, previously the home of the abdicated king who lived here with his wife Wallis Simpson. Luxurious houses in St Lucia, Kenya, Japan, Mauritius and many more are also available.
Adams adds that affiliate schemes with the likes of Ritz Carlton Destination Club bring even more luxury travel options to members.
PRIVATE VIEWING DECK OF PROPERTY IN KENYA
The members make available weeks of time in their own second home for other members’ use, and earn 3rd home ‘keys’ which can be used to reserve a stay at other properties. Members include young, successful families as well as retired couples from across the globe.
www.3rdhome.com
