$2.4 million for a rental: Rich tourists are already booking mega-mansions for the Olympics

Three years from now, millions of tourists will flood Los Angeles 2028 Olympic Games. For most of them, a hotel room or Airbnb is enough.

Some require more luxurious accommodation.

Ten bedrooms. Twenty bathrooms. A private cinema and infinity pool overlooking the city. A battalion of chefs, butlers and drivers, cater to the smallest whimsical.

The elite of the planet – not only athletes, but royals, oligarchs and Uber families are all here to watch them – will not come here in three summers. The market for large Mosesian rentals has become increasingly competitive.

“We do five to 10 queries a week.” Super luxury vacation rental company luxJB. “There are only so many homes in Los Angeles, and people want to secure their place as soon as possible.”

LuxJB owns 14 luxury homes near Los Angeles, including in Beverly Hills, Hollywood Hills and West Hollywood. Three of them have been protected by the Olympics – not only in the last two weeks of July, but also for most of the year.

“If you’re an Olympic Federation in a specific country, you’re here to train athletes before the game starts,” Stark said. “If you’re a major sports brand, you’ll want to be in Los Angeles before and after July.”

The Crown Jewelry of the LuxJB Series is a 39,000 square foot behemoth equipped with 9 bedrooms, four kitchens, a gym, spa, cinema, kimchi court, basketball court, basketball court and a team of three maids. Customers rent it out from January 2028 to August 2028 for $300,000 per month.

Total of $2.4 million. Prepayment.

This is a breathtaking price, but since LuxJB covers utilities, you can find some savings. Once you consider heating the pool, they run about $25,000 a month.

The home is in a higher price for LuxJB product, with smaller five-bedroom villas starting at $1,900 per night and larger luxury homes starting at $150,000 per month.

Stark said rents make sense to many people. For example, a superstar athlete travels with his entourage and wants some privacy.

“You can’t let it go [Cristiano] Ronaldo is surrounded by strangers in his hotel room. “He is the most valuable player in the world. Plus, our place has a $6,000 zero-gravity massage chair,” Stark said.

LuxJB is currently raising interest from two Olympic committees, which are looking for a place big enough to host news conferences and host media, as well as American companies looking to book homes for its top brass.

Stark said companies usually rent luxury homes for several months at a time and are far ahead of schedule. Studios rent them for red carpet season in the fall and spring to host celebrities nominated for Emmy, Grammy and Oscar nominations. Nine of LuxJB’s 14 homes have been booked next summer, when the 2026 World Cup brings some major games to Los Angeles

But booking for three years?

“It’s rare,” Stark said. “But the rent is disappearing, especially in [January] Fires, when many people rent victims for a long time. So, I don’t think demand will slow down anytime soon. ”

The main reason the market is not hot is that there are not many rooms or houses available yet. Most hotels do not accept reservations more than one year in advance, while rental companies such as Airbnb and VRBO generally do not accept reservations for more than two years.

There is a reason for such a policy: there are many changes in three years. Homeowners can sell their homes, take them out of the market or die.

Stark doesn’t have to worry about major changes, as LuxJB owns its home. However, other luxury rental companies, such as Nightfall Group, rent out their homes on behalf of their owners, so three years may be too early for some.

However, this did not prevent incoming calls.

Nightfall founder Mokhtar Jabli said he has received steady inquiries since the company created one 2028 Olympic Landing Page Highlight available rents on their website. They have booked one: a 10,000 square foot home with six bedrooms, 10 bathrooms, a movie theater and an infinity pool on the Hollywood Hills.

In July 2028, guests paid $160,000.

“That House rented about $110,000 in a typical year, but they had to book in advance,” Jabli said.

It comes from a long-term client who knows which home they want and locks it before being blocked by a long-term lease. Owners are usually not that far away, but are willing to make exceptions – as long as guests are willing to pay more.

Jabli said the price of Olympic bookings is about 40% higher than usual, but he expects that number will rise as the game goes.

Nightfall has rents in the global luxury market, with about 100 in Los Angeles. Its homes are usually $50,000 a month, but the company also offers concierge services, so the home is just the beginning. Jabli said some clients pay $500,000 a month for stylish accessories such as private jets, yacht rentals, security guards, drivers, chefs and butlers.

The company regularly hosts international athletes: football star Ibrahima Konate from France and amine Adli from Morocco. Jabli expects wealthy Olympic athletes to book a home to share with their families in more lucrative sports such as basketball or football, rather than staying in the Olympic village on the UCLA campus.

Another factor in the Olympic rental market is the imbalance in Southern California, Sporadic law enforcement Short-term rental regulations. The rules change every year, cities become cities, and legal bookings may be banned today in 2028.

For example, on August 5, Beverly Hills Short-term rentals are prohibited The initial lease is fully required to be at least 12 months. Come on Los Angeles The ordinance will be conducted in March, calling for additional fines and more employees to monitor violations. But this city Scaling budget Many law enforcement plans have been put on pauses.

It is unclear whether it will make an exception for the Olympics, as millions of visitors descend to housing areas that have already starved to death.

Either way, the surplus of contemplative tourists should be shot on the arm of a luxury market that has been declining since the pandemic at the age of 19. Houses will be rented for thousands of dollars a day. Millions per year.

“Los Angeles is in crisis in the high-end luxury rental business and beyond,” Jabli said. “Hopefully, 2028 brings it back to Los Angeles as we know it.”