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The amount that Prince Harry and Meghan Markle could rent out their exclusive £11 million property for has been revealed.
While the lavish Montecito home they purchased when they first moved across the pond has been perfect for the Sussex family since they arrived, they’re reportedly now ready to move out of their 18,000 square foot mansion to find their dream home—and a recent study has indicated how much they could rent it out for.
The study calculated the average monthly rent by taking 1.1% of a home’s overall worth and predicted that the Duke and Duchess of Sussex could make at least £121,000 per month and £1.5 million per year in rent on their stunning property.
The nine-bedroom, 16-bathroom mansion, which spans 18,000 square feet on 5 acres of land, is surrounded by A-list celebrities including Oprah Winfrey, Ellen Degeneres and Ariana Grande.
The Californian estate also has a gym, a wine cellar, a swimming pool, and a guesthouse, as well as beautiful gardens with a tennis court and a putting green, plus a spacious green garden, perfect for Archie and Lilibet.
According to a source, Harry and Meghan are planning to leave the luxe house since they are “not over the moon” with it.
The Duke and Duchess of Sussex’s home is said to feature a separate guest house with two more bedrooms where guests can stay in addition to the nine bedrooms on the property.
Adding on the rental findings a spokesperson for Luxury Hotel said, “With sources recently reporting that Prince Harry and Meghan Markle are thinking of leaving their luxury home in Montecito, it will be interesting to see what the couple decide to do next with the property.
“Given the extraordinary fame of the Duke and Duchess of Sussex, the fact that they have even lived in the property at all will make it one of the most exclusive homes in the world, and if they decide to invest long-term in their luxury mansion by renting it out, they will have no shortage of eager tenants”