A new program launched by Inspirato last summer is allowing luxury home buyers and owners to partner with the company. Billed as offering “all of the benefits of luxury vacation homeownership, with none of the headaches”, Inspirato Real Estate is a way of building the Inspirato Collection of vacation properties while making it easier for owners to rent out their homes.
Inspirato CEO Brent Handler says, “If you’re thinking about buying a luxury vacation home, you typically have three main worries: you won’t use it enough, it will become a money pit, and managing it will become a second job.” Inspirato Real Estate aims to solve all of these concerns. “We find you the perfect home, lease it to provide fixed rental income, manage it 24/7, and give you access to both your own property and over 300 additional residences around the world,” Handler says.
Brian Corbett, founder of Inspirato, explains that the new Real Estate program has three primary goals:
- To help owners and developers sell luxury homes.
- To make it easier for investors to be matched with the right broker, the right luxury property, and the right location.
- To expand the Inspirato portfolio, thereby benefitting club members.
A list of carefully-selected real estate professionals works with Inspirato to link potential buyers and properties that meet the club’s high standards. Not just any home will do. Inspirato prides itself on offering homes that provide the perfect spot for making vacation memories. Therefore, homes are assessed for their suitability based on a number of criteria, including the home’s location, size, number of bedrooms, views, security, functionality, and value. That’s not to say that larger is always better. Corbett says, “The beauty of the Inspirato portfolio of homes is that there’s plenty of variety in terms of size. Sometimes two bedrooms are plenty, and other trips require more space to entertain multiple families or groups of friends.”
Corbett says that functionality is key as a holiday property will need to function very differently to an everyday residence. For example, it is important that there be a kitchen and common area where groups will want to meet and relax. Each bedroom must be accompanied by an ensuite bathroom. Private amenities such as a pool, hot tub, grill, and patio space are desirable.
Inspirato Real Estate currently has properties in Hawaii, California, Mexico, South Carolina, Cape Cod, Miami, Utah, Aspen, and Turks & Caicos. The company has a list of destinations where they hope to grow their portfolio. They are working with brokers in those areas, and then sending staff to inspect any potential homes.
For Home Owners
Property owners benefit in a number of ways. Inspirato staff work with the owner to create a plan based upon their particular property, desired usage, and other factors. Owners receive guaranteed rental income on their property without the stress of overseeing reservations and maintenance. A five-year lease agreement with Inspirato provides a fixed income and 24/7 full property management. Owners can use their property at no charge at various times throughout the year. They also receive full membership in Inspirato, giving them preferred booking access to the company’s $1 billion collection of luxury vacation homes around the world.
One owner, David Robertson, who has found his ideal property says, “Inspirato Real Estate did an incredible job helping our family. They found a great place in a fantastic location, and by combining it with both a lease and membership privileges, enabled us to earn income to more than cover our costs, while also vacationing at other properties in the extensive Inspirato portfolio. I don’t know of a more flexible or rewarding way to own a vacation home.”