ThirdHome

ThirdHome is a home exchange service focused on luxury homes. The company is based in Brentwood, Tennessee and operates worldwide.[1][2]

ThirdHome
Type of site
Privately held company
Founded2010 in Brentwood, Tennessee, United States
HeadquartersBrentwood, Tennessee
Area servedWorldwide
Founder(s)Wade Shealy
Key people
Products
Employees45 (2017)
URLwww.thirdhome.com

Owners of luxury second homes apply online, and, if they meet requirements for location, characteristics of the house, and home value, become eligible as members.[3] Each owner lists which weeks their house will be available.[4][5] When someone is staying at their house, the owner receives fictional currency, usable to reserve weeks at any property available on the system,[6][7] or for stays in affiliated clubs and resorts. The site charges a one-time enrollment fee and a variable fee per exchange[8] Its "Reserve" program offers properties valued at $5 million or more.[9][10]

Homes are also available for rental by the general public for nightly fees.[11]

History

ThirdHome was founded by real estate developer Wade Shealy in 2010 with an initial portfolio of 120 properties.[12][13][14]

In 4 years, it grew to 3,000 members in 73 countries.[15]

By 2017, the site had about 8,000 properties.[16]

In March 2017, inspired by The Best Job in the World, the company offered to hire someone to travel to luxury residences worldwide and share experiences online.[17][18][19][20][21]

Beginning May 2018, the company offered rental listings of homes valued at $500,000 and above to the general public.[11]

In 2016, ThirdHome was sued by Lightbox Ventures for breach of contract and breach of fiduciary duty for a failed joint venture with the company. Lightbox was awarded $100,000 by the courts for legal fees.[22]

References
  1. "The sharing economy brings tycoon lifestyles within reach of some". The Economist. November 26, 2016.
  2. Hewitson, Jessie (August 26, 2016). "Join the elite house-swap club" (PDF). The Times.
  3. Caradonio, Jackie (May 4, 2018). "The 10 Most Luxurious Villas You Can Rent from ThirdHome". Robb Report.
  4. Krueger, Alyson (January 15, 2016). "Inside 3rd Home: The Airbnb For Millionaires and Billionaires". Forbes.
  5. Carruthers, Fiona (February 28, 2018). "House swapping for the rich and propertied". The Australian Financial Review.
  6. Eckstein, Nikki (October 3, 2016). "How to Make Money From Your Second Home Without Lifting a Finger". Bloomberg News.
  7. "'Like having a Ferrari and putting it on Craigslist': Why the wealthy join a property sharing club". Domain. March 27, 2018.
  8. Patnaude, Art (September 4, 2014). "Mansion Swap: Luxury Vacationers Are Trading Places". The Wall Street Journal. ISSN 0099-9660.
  9. Ramani, Sandra (January 10, 2020). "Thirdhome's New 'Reserve' Program Will Offer Luxury High-Worth Homes for Your Next Vacation Swap". Robb Report.
  10. Lippe-McGraw, Jordi (January 13, 2020). "How to Stay in a $5 Million Home on Your Next Vacation". Departures.
  11. Im, Jimmy (May 18, 2018). "Here's how you can rent these vacation mansions for under $200 per person a night". CNBC.
  12. Hopkins, Kathryn (September 8, 2014). "If you've got a luxury house standing empty, join the club". The Times.
  13. Bonislawski, Adam (February 22, 2017). "How the one percent vacations". New York Post.
  14. Lewis, Carol (November 20, 2015). "How to join the global hideaway swap club". The Times.
  15. Kerr, Elizabeth (February 15, 2015). "Three Times Lucky" (PDF). Squarefoot Magazine.
  16. Bonislawski, Adam (February 22, 2017). "How the one percent vacations". New York Post.
  17. Owen, Erika (March 1, 2017). "Get Paid to Travel the World and Stay in Luxury Homes". Travel + Leisure.
  18. "World's best job? Company will pay you $10,000 a month to travel the globe in luxury". Fox News. March 29, 2017.
  19. "Wanted: Someone to travel in luxury around world - for £8,000 a month". The Telegraph. March 27, 2017.
  20. Leasca, Stacey (August 27, 2017). "How One Woman Gets Paid to Travel the World Staying in Luxury Homes". Travel + Leisure.
  21. "The truth about the 'best job in the world', according to the man who first won it". The Independent. March 31, 2017.
  22. "Lightbox Ventures, LLC v. 3rd Home Limited, No. 1:2016cv02379 - Document 252 (S.D.N.Y. 2018)". Justia.
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