Why Stars Are Renting Out Their Homes for Dirt Cheap

Martha Stewart’s 150-plus-acre property in Bedford, N.Y., includes a farm with horse stables and a chicken coop, a fruit orchard, a peacock pen and seven stately houses.

One of the abodes opened for a night’s stay this month.

The domestic goddess is among the A-listers, including Gwyneth Paltrow and Mariah Carey, putting their estates or penthouses up for short-term stays on rental sites such as Airbnb and Booking.com for nominal fees or no cost at all.

“It is a very pleasant weekend in the country,” Stewart said in an interview.

Why would a celebrity invite strangers to traipse through their home? Rental companies can use the attention to reach new audiences and distract from public criticism over hassles such as rising fees. Luminaries can promote their own brands, and guests get to briefly live like a star, in a highly orchestrated way.

Stewart said she had never used Booking.com or Airbnb for her own travel, and was intrigued by what the experience would be like as the homeowner. She recently announced that one of her farmhouse’s residences—her “tenant house”—in Bedford, would be bookable for two guests for one night starting Nov. 18. The Thanksgiving-themed overnight (Thanksgiving is among her favourite holidays) included a guided tour of the farm, a wreath-making class and a brunch with Stewart herself.

In keeping with the holiday vibe, the getaway was priced at $11.23, as in Nov. 23, this year’s Thanksgiving date.

The two-bedroom cottage where her guests stayed is always prepared for visitors, she said. (Of course it is.) That meant she didn’t have to worry about removing personal items, and she was unfazed about opening her home to people she didn’t know.

But don’t expect to post all over Facebook about your stay at Martha’s. Booking.com said celebrities can ask their guests to sign nondisclosure agreements, something Stewart required for hers. What exactly it is like to spend a night in any of these VIP homes will likely remain rarefied knowledge.

Celebrities are compensated for the home stays; Leslie Cafferty, Booking.com’s chief communications officer, declined to disclose how much.

People have long had a voyeuristic fascination with the lifestyles of the rich and famous. In Los Angeles, companies compete to offer celebrity-home tours, where passengers crane to see mansions behind gates and humongous hedges while sitting in faraway buses. Dwellings with even a patina of historic relevance draw fans. “George Washington slept here!” says a title for one Virginia farmhouse on Airbnb. (Wrote one reviewer: “This is a beautiful old home with wonderfully scenic views. There are horses, donkeys, and the oddest assortment of charismatic dogs.”)

Some can even be enthralled to sleep in a dorm room—if it once housed American royalty-turned-U. S.-president. At Harvard University, visiting politicians and notable figures including actor Alec Baldwin have stayed overnight at John F. Kennedy’s senior-year dorm suite, though it hasn’t been available for personal use for several years.

Companies such as Airbnb have faced scrutiny over soaring cleaning fees and host demands. In September, New York City began cracking down on short-term rentals by requiring hosts to register with the city and meet multiple requirements, such as not renting out an entire property. During a recent travel-industry event, Airbnb’s CEO Brian Chesky acknowledged seeing thousands of complaints on social media about rising rental costs.

The inexpensive and publicity-drawing celebrity home stays are one of several ways short-term rental companies are marketing to new hosts and guests.

Earlier this year, Paltrow invited guests to spend the night at her Montecito, Calif., home free of charge through Airbnb. The sunny, white-marbled rental featured a bathroom filled with products from Goop, Paltrow’s lifestyle company, and activities such as transcendental meditation. Through Airbnb, Ashton Kutcher and Mila Kunis opened up their Santa Barbara beach house. The stars greeted their guests personally, and Kutcher documented part of their stay on his Instagram. Airbnb declined to comment.

Those who walk through the doors of a celebrity-anointed home might wonder: Should they expect to see family photos, or Paltrow’s personal trinkets hanging on the walls? And do they really get the run of the whole house?

That is up to the stars, Cafferty said. The entirety of Stewart’s guesthouse is available for the duration of the guests’ stay. Carey, the queen of Christmas, opened both her New York City penthouse and her rental home in Beverly Hills, Calif., to fans via Booking.com—yet Carey’s penthouse was only available for a cocktail hour; her guests stayed overnight at The Plaza Hotel.

Producer DJ Khaled opened only one room of his Miami house for Airbnb—his sneaker closet. To be fair, his sneaker closet doesn’t look like your sneaker closet. His is the size of a small dorm room, large enough for a bed for two, a shoeshine station and floor-to-ceiling sneakers (which guests weren’t allowed to touch). This was bookable last year for $11.

One of the guests who spent the night with DJ Khaled’s shoes wrote that the stay came with a free sneaker-shopping trip and chauffeurs, deeming it “an experience from start to finish.” No word on how the sneaker closet smelled, though the reviewer called it “immaculate.”

Sarah Jessica Parker invited two guests to her Hamptons home via Booking.com. It came with access to a crystal-blue private beach, a free pair of heels from Parker’s shoe line and reservations at some of her favorite local restaurants (though no appearance from Parker herself). Her rental went up for $19.98—priced for the year “Sex and the City” premiered.

The post-COVID return to CBD offices continues across Australia, with the average office occupancy rate climbing to 76 percent of pre-pandemic levels in the first quarter of 2024, according to new CBRE figures. Workers are gradually responding to their employers’ requests to attend their offices more regularly to enable greater collaboration with workmates. The occupancy rate has risen from 70 percent in the December quarter and 67 percent 12 months ago.

Occupancy rates improved across all capital cities during the March quarter, with Perth and Adelaide maintaining the strongest rates of 93 percent and 88 percent respectively. CBRE analysis suggests shorter commuting times and less structured working-from-home arrangements in these cities have contributed to higher rates of return. Brisbane’s occupancy rate is 86 percent of pre-COVID levels, weighed down by a slower return within the public sector, which represents 35 percent of the city’s office space. This same trend is being seen in Canberra, where the occupancy rate is just 66 percent.

In Sydney, the occupancy rate has risen to 77 percent, largely due to major banks and professional services firms pushing for more staff to return to the office this year. There has been a significant increase in workers returning to offices in Melbourne, with the occupancy rate up from 57 percent last quarter to 62 percent now. However, this is still the lowest attendance rate in the capital cities.

Businesses are increasingly pushing workers to return to the office because they are concerned working from home over multiple years will have a negative long-term impact on company-wide productivity. Part of the problem is new employees not having regular access to senior staff so they can learn and work more effectively and productively. CBRE says lower levels of collaboration and interaction reduce innovation, which is a particular concern for technology firms. They were quick to embrace remote working during COVID, but are now seeing dampened creativity among staff.

Tuesday is the peak day for attendance at CBD offices and Friday is the lowest day. Two-thirds of organisations that have moved their corporate headquarters since COVID have chosen to upgrade to premium office buildings, according to CBRE’s research. Premium blocks typically feature retail, restaurants, and recreational amenities on the ground floor, and command a higher rent. Companies are deciding it’s worth the cost to entice workers backand keep them feeling happy and engaged.

Jenny Liu, Director of Workplace Consulting at CBRE, said a vibrant workplace experience is essential.

“A workplace experience isn’t just environment, cool furniture and tech anymore,” she said. “It’s the culture, ways of working, leadership, and how vibrancy is created.”

Some companies are using apps that inform staff who will be in the office tomorrow. CBRE Research Manager Thomas Biglands said:

“It’s important that you achieve a critical mass of visitation so that employees come in and feel as though the office is vibrant and full,” he said.

Some firms are linking salary and promotions to office attendance to reward those workers providing higher contributions to corporate culture and mentoring younger staff.

The rate of return to offices in Australia is much higher than in the United States, where occupancy rates have remained at about 50 percent over the past year. CBRE analysis suggests this may be due to better public transport, shorter commutes and lower inner-city crime rates in Australia.

Why Stars Are Renting Out Their Homes for Dirt Cheap

A-listers are becoming short-term rental hosts. But you might have to sign an NDA or stay in a celeb’s sneaker closet.

Companies are leasing premium office space to entice workers back, but employees in one major capital are holding out