Luxury Leasing as Short Term Solution


The recent trade of Kendrys Morales from the Minnesota Twins to the Seattle Mariners provides us an opportunity to discuss leasing as a short-term solution to a possible problem in the luxury real estate market.

To refresh your memory on this Morales situation, the ballplayer did not sign a contract with a team by the beginning of the season despite a very good performance the previous year.  Finally, the Minnesota Twins signed Morales in June, and for the past two months he has played with them, only to be traded this past week to Seattle.  This is a very common situation, by the way, and it brings up a very common question that we are asked at quite often.

The question is this:  should a player hold on to his current home even though he has been traded, or should he sell it as quickly as possible, even though that might mean selling at a loss?

There is, however, a third option, and it is one more athletes are considering for their pro athlete homes.  We are speaking about leasing your athlete real estate while you spend some time deciding what you want to do with it.

Luxury real estate is in big demand for short-term leases, especially if the pro athlete home is in a popular destination like Los Angeles, Miami, New York or Las Vegas.  Many celebrities and athletes are looking for luxury accommodations for weeks or months, and quite often the price is not an object.  We have had several clients who have found short-term leases to be a comfortable solution to their relocation problems.  They will lease their property during the season after they have been traded to another city, and then they will decide after the season what to do with their former home, and we are there with them every step of the way, finding someone to lease the property, and selling it when the time is right.

Sports Relocation, Inc. Sports Relocation, Inc assist players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.