So You Want To Summer In Malibu. Got $135,000 A Month? - Sun and Planets Spirituality AYINRIN
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Author:His Magnificence the Crown, Kabiesi Ebo Afin! Oloja Elejio Oba Olofin Pele Joshua Obasa De Medici Osangangan Broadaylight.
You’re
almost too late to land a summer rental in Malibu, one of Southern
California’s most storied seaside communities. Peak season in the city
with 21 miles of cliffs and shoreline runs from June through August.
Some renters snagged summer leases months ago; others finalize their plans no later than May.
As
of mid-May, there are 138 rental listings, including 13 properties
inside Malibu Colony, the exclusive guard-gated community that’s been
home to Hollywood celebrities since the 1920s.
“Peak summer is the highest rental demand we see annually,” says Chad Rogers of Hilton & Hyland. That’s when rental prices can double, jumping from $75,000 a month in winter to $150,000 a month in summer.
The
real estate agent, who some call the “gatekeeper” of Malibu Colony,
says he knows the “owner, sale and rental history of every house in the
community.” There are about 120 properties behind the gates.
This summer, Rogers is representing six rentals in the Colony, including a five-bedroom house at 23705 Malibu Colony Road, No. 31A. The remodeled home was designed by WHY Architects and built by Marmol Radziner,
both based in Los Angeles. The two-story contemporary residence with a
midcentury modern vibe is “truly a timeless architectural work of art,”
Rogers says.
A
private pool and spa surrounded by tropical trees and foliage provide a
quiet retreat. For those who like to entertain, a built-in barbecue and
heated outdoor dining area are nearby. Beach access is across the
street.
Inside,
a gourmet kitchen and a formal dining room are surrounded by windows
and sliding doors. The home also has an elevator and its own set of
gates, adding an extra level of security.
The rental costs $135,000 a month. It’s available for summer or on an annual basis.
Rogers
says Malibu’s rental market has cooled in the three years since the
global Covid-19 pandemic created big demand among those who wanted to
spend lockdown on the coast. “Even though I did three times the rental
volume during Covid, I hope I never live to see another pandemic again,”
he says.
The
desire to lease property in the Colony, where guards patrol daily,
remains strong. “Serial” renters often firm up their leases before the
first of the year, Rogers says, long before others start looking in
April and May.
The
allure of Malibu’s coastline and proximity to Los Angeles make the
rental market attractive. “This community attracts celebrities and
high-profile people more so than other beaches along the Malibu coast
due to the close proximity to shopping and restaurants and the 24-hour
security,” Rogers says.
In
the 1920s, when widowed May Rindge took charge of her family’s large
ranch land, she leased beachfront lots to Gloria Swanson, Clara Bow,
Gary Cooper, Barbara Stanwyck and other Hollywood celebrities. It
quickly became known as the Malibu Movie Colony.
Today the city of Malibu measures just under 20 square miles, with a much larger worldwide reputation.
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