The world’s wealthiest sports fans are in a frantic race of their own….to spend millions of dollars renting out LA’s most luxurious mega-mansions for the 2028 Olympics. Real estate agents say they have already leased out more than two dozen ultra-luxury estates and sprawling villas – including one booking for a mind-boggling £1.8m – even though the Games are just under three years away.
Some of the same stunning properties, many of which include a chef, butler and housekeeping staff, have also been snapped-up for next year’s World Cup, at which LA’s SoFi Stadium will host eight matches. Hank Stark, founder of high-end vacation rental company LuxJB, says he has already rented out three of the 14 mansions owned by the firm in Beverly Hills, West Hollywood and the Hollywood Hills where neighbours include A List movie stars, tech titans and household-name billionaires.
And he added: “The market is getting very competitive. We’re getting between five to ten enquiries every week right now. There are only so many homes of this size in LA and people want to secure their spot as soon as possible.” Among the mega mansions he has already leased for the 2028 Olympics – which California experts predict will bring a £13.5billion economic boost to the state – is one of LuxJB’s crown jewels; a 39,000 square foot behemoth with nine bedrooms, four kitchens, a state-of-the-art gym, spa, movie theatre, basketball court and three maids. The client could have paid around £222,000 to rent it for just the 16 days in July over which the Games will be held.
Instead, he loved the gated estate so much he hired it from January to the end of July for £1.8m and paid in advance. While the price is eye-popping, Hank Stark was quick to point out his latest high-profile tenant landed a “sweet deal” where LuxJB will cover the entire cost of household utilities for the rental period. These run at more than £18,000 a month, including the cost of heating the pool.
As our photos show, the fully furnished and exquisitely-decorated mansions still up for grabs range dramatically in price. One, Villa Alfi in the Hollywood Hills, which has sweeping views over Sunset Boulevard, can accommodate up to ten guests for a “more reasonable” £2,135 per night plus tax and fees.
Experts say LA’s luxury rental market is booming without the Olympics and World Cup as a result of historically high interest rates, California’s controversial state mansion tax and the January wildfires, with many now preferring to rent rather than rebuild homes lost in the infernos.
“There is an immense amount of demand,” says Tomer Fridman of The Fridman Group, whose rental portfolio includes a palatial French Chateau-style estate in Beverly Hills currently listed at £123,500 a month. It is expected to be snapped up during next year’s World Cup as well as the Olympics and Hank Stark is one of many who believes rentals during both global events make sense for elite competitors.
For example, he said, a sporting icon who travels with an entourage and wants privacy. “You can’t put Cristiano Ronaldo in a hotel surrounded by strangers. Plus our places have benefits most hotels don’t, like a zero-gravity massage chair.”
