ThirdHome

ThirdHome
Private
Industry
Founded 2010 in Brentwood, Tennessee, United States
Headquarters Brentwood, Tennessee
Area served
 Worldwide
Key people
Number of employees
 45 (2017)
Website thirdhome.com

ThirdHome is a luxury second house sharing service of vacation homes. The company is based in Brentwood, Tennessee and operates worldwide.

History

ThirdHome is a US-based company 3rd Home (founded by real estate developer Wade Shealy) in 2010.,[1][2][3] with an initial portfolio of 120 properties.[4] In 2014, the company had around 2400 properties to exchange in 70 countries.[5] By 2017, the site had about 8,000 properties.[6]

In 2017, the firm ran a worldwide contest called The Best Job on the Planet, to hire a person to travel through luxury residences in the world and share his experience on various platforms.[7][8][9][10] It was inspired by The Best Job in the World campaign, and the firm collaborated with the winner of that campaign for the development of the competition.[11]

Since May 2018, Thirdhome has been available to the public.[12]

Business model

The firm was conceived as a home exchange. Owners of luxury second homes apply online, and, if they meet requirements for location, characteristics of the house, and home value, become eligible as members.[13] Each owner lists which weeks their house will be available.[14][15]

When someone is staying at their house, the owner receives credits, usable to reserve weeks at any property available on the system,[16][17] or for stays in affiliated clubs and resorts .[18] The site charges a one-time enrollment fee and a variable fee per exchange[19]

The site also rents properties to users who register on the site, without exchange.[12]

References

  1. ↑ Hopkins, Kathryn. "If you've got a luxury house standing empty, join the club". Retrieved 2017-06-23.
  2. ↑ Kerr, Elizabeth. "Three Times Lucky" (PDF). Squarefoot Magazine.
  3. ↑ Bonislawski, Adam (2017-02-22). "How the one percent vacations". New York Post. Retrieved 2017-06-23.
  4. ↑ Lewis, Carol. "How to join the global hideaway swap club". Retrieved 2017-06-23. 3rd Home has grown rapidly from 120 properties in 2010 (...)
  5. ↑ Lacey, Hester. "House Swapping and Rentals: Luxury Begins At Home". www.billionaire.com. Retrieved 2017-06-23. by 2014 the company had around 3,000 properties in 70 countries on its books; worth an average of US$2.3 million dollars, making up a total portfolio worth US$5.7 billion.
  6. ↑ Bonislawski, Adam (2017-02-22). "How the one percent vacations". New York Post. Retrieved 2017-06-23. The company’s inventory includes around 8,000 properties in 80-plus countries, with an average home value of around $2.2 million.
  7. ↑ "Get Paid to Travel the World and Stay in Luxury Homes". Travel + Leisure. Retrieved 2017-06-23.
  8. ↑ "World's best job? Company will pay you $10,000 a month to travel the globe in luxury". Fox News. 2017-03-29. Retrieved 2017-06-23.
  9. ↑ "Wanted: Someone to travel in luxury around world - for £8,000 a month". The Telegraph. Retrieved 2017-06-26.
  10. ↑ "How One Woman Gets Paid to Travel the World Staying in Luxury Homes". Travel + Leisure. Retrieved 2018-06-02.
  11. ↑ "The truth about the 'best job in the world', according to the man who first won it". The Independent. 2017-03-31. Retrieved 2017-06-26.
  12. 1 2 Im, Jimmy (2018-05-18). "Here's how you can rent these vacation mansions for under $200 per person a night". CNBC. Retrieved 2018-06-02.
  13. ↑ Caradonio, Jackie (2018-05-04). "The 10 Most Luxurious Villas You Can Rent from ThirdHome". Robb Report. Retrieved 2018-06-02.
  14. ↑ Krueger, Alyson. "Inside 3RD HOME: The Airbnb For Millionaires and Billionaires". Forbes. Retrieved 2017-06-23.
  15. ↑ "House swapping for the rich and propertied". Financial Review. 2018-02-28. Retrieved 2018-06-02.
  16. ↑ "How to Make Money From Your Second Home Without Lifting a Finger". Bloomberg.com. 2016-10-03. Retrieved 2017-06-23. .
  17. ↑ "'Like having a Ferrari and putting it on Craigslist': Why the wealthy join a property sharing club". Domain. 2018-03-27. Retrieved 2018-06-02.
  18. ↑ "Sponsor Affiliates | THIRDHOME Luxury Home Exchange Club". www.thirdhome.com. Retrieved 2017-06-23.
  19. ↑ Patnaude, Art (2014-09-04). "Mansion Swap: Luxury Vacationers Are Trading Places". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-06-23.
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