As the real estate market continues to struggle along and properties take longer to sell, Mansion Minders keeps up the homes whilst at the same time providing plush living quarters at a cut rate.
For example, a resident has to clean the pool like it’s their own, even though it’s not.
“Mansion Minder’s” are basically live-in house sitters for homes on sale, paying less than they would normally pay for their home, whilst living in a better property.
The rules are that the property must be kept spotless, disappear when required should the property needs to be shown by the broker, and move out in less than one month if it sells.
Mansion Minders are not renters but effectively sub-contractors (and thus without tenant’s rights). Instead, they pay the company what’s called a participation fee, which is about 25 percent of a monthly mortgage. The participation fee is based on the home price.