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Since joining ThirdHome, she has been living in a luxury three-bedroom apartment in Hokkaido, Japan. “We are a family of ski enthusiasts—we have four children. The apartment is high-end, has a concierge service, and is in a great location,” she said.
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She enjoys the personal service of the travel club and the opportunity to visit beautiful homes in places she might not otherwise visit. She has hosted three successful exchanges at resorts on the Sunshine Coast.
“You get the dollar value of the home, but you obviously get the opportunity to travel,” she said.
Campbell plans to continue renting her home on other platforms and on ThirdHome during off-peak hours.
Byron Bay property developer Jason Dunn is another recent convert.
“I like the pre-vetting and membership process,” he said. “I like that ThirdHome does in-depth research on properties and owners, and it’s a membership-based service. It’s not just about walking up to the street and doing a home-swap-style arrangement.”
Jason and Jenny Dunn recently joined vacation home exchange platform ThirdHome.Credit: Natalie Gronow
He said people who own holiday homes don’t always use them and this exchange arrangement can optimise their assets.
Dunn is building Secret Gardens in Byron Bay, a 22-apartment mixed-use development (priced from $2.45 million) due to be completed by Christmas 2025.
He has already signed the agreement, so the owners of Secret Garden are pre-approved to join ThirdHome. Since he will own one of the condos, he is now a member and is looking forward to traveling. “My favorite vacation home is the ski-in, ski-out residence at the Ritz-Carlton, Aspen.”
Byron Bay Film Festival director J’aimee Skippon-Volke hopes to see more visitors stay in the region and that international visitors return in the same numbers as before the pandemic.
Members can stay in luxurious homes around the world, like this one in Tuscany. Credit: The third home
“Byron Bay’s economy is in decline and fewer people are holidaying at home,” she said. “We’ve definitely seen a drop in international visitors as well.”
According to tourism body Destination North Coast, domestic tourist overnight stays fell by 300,000 and international visitor numbers fell by 166,000 in 2022. Shops in the town were empty and some businesses were struggling to find or house staff.
Skippon-Volke said she had mixed feelings about holiday home swaps, noting there was a rental crisis in the area and local workers needed long-term rentals. But if a house was vacant and not permanently sold or rented out, it could also be used to host tourists.
From the end of September, Byron Shire Council will limit the number of days of short-term rental accommodation to 60 days a year (down from the current 180 days), a rule that has also caused controversy in Byron Bay.
Chalet Berlioz in Meribel, France is one of the properties available on the platform. Credit: The third home
James Gerrard, director of FinancialAdvisor.com.au in Sydney, said many of his clients who own holiday homes only use them 10 to 20 days a year.
He thought the concept of exchange was good because people could make better use of their possessions and occupied homes would be less at risk of vandalism and theft.
“ThirdHome does not incur income tax because it is more like a barter transaction, whereas if you rent out a home on Airbnb, the rent is subject to income tax,” he said.
People should check their insurance policies because they may not be compensated if a guest is injured, and they may need public liability insurance. For accidental damage to the property, people may need a specific insurance policy for short-term rentals.
The ThirdHome Apartments in Tribeca, New York City. Credit: The third home
Wade Shealy, founder of ThirdHome, who started ThirdHome in 2010, recently travelled to Australia to meet with more than 500 members. He loved the ThirdHome property he had stayed in in North Bondi.
“Australians are keen on owning property and they love to travel,” Shealy said. “We expect to have more than 1000 members by the end of the year.”
He said there were some incredibly impressive properties in Australia and they had recently signed a deal for a property in Byron Bay worth more than $30 million.
“Broadcast Millionaire Vacation Home Exchange “Last year’s broadcast on Foxtel really put us on the map,” Shealy said.
If the usual luxury resorts aren’t good enough, there’s also the ThirdHome Reserve, for those with homes and yachts valued at more than $15.5 million.
This article was originally published by Domain name.com.au. Reprinted with permission.
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