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Trump Got Up To $1 Million From Renting Out His Beach House Last Year

(Source: www.forbes.com)

With so many places to vacation—Camp David, Mar-a-Lago and Trump National Golf Club Bedminster—the president hasn’t been spending much time at his Caribbean beach house lately.

Instead, he has been renting it out. Charging a nightly rate of up to $20,000, he has made a pretty good business out of it, raking in somewhere between $100,001 and $1 million in 2017, according to his latest financial disclosure, released Wednesday.

What have customers gotten for all that money, besides the distinction of renting from a sitting president? A “fabulous property” in an “intimate, relaxed and attentive environment within the walls of a gated enclave,” according to one online listing. Named Chateau des Palmiers, the St. Martin estate boasts 9 bedrooms (11 if you count living quarters for the help) and 8 bathrooms across two villas, plus a heated beachfront pool, gym, tennis court and outdoor billiards table. The home, which features gold fixtures and tiger print armchairs, also comes with its own chef and security, according to another listing.

“The Trump villa is probably the most exclusive property [on the island]—maybe there’s one or two that could rival it,” local broker Arun Jagtiani told Forbes in March. “It’s a very elite property.”

Trump had already earned as much as $3 million in rental income from the estate, according to previous financial disclosures that listed income from 2014 to April 2017.

Like much of the island, Chateau des Palmiers was damaged by Hurricane Irma last September, though the president’s estate seems to have fared relatively well. Drone footage of the property after the storm, published by the Daily Mail, shows mangled palm trees and a broken gazebo roof, but little apparent structural damage.

That’s especially good news for Trump, who has the estate up for sale with Sotheby’s International Realty in St. Martin. He initially wanted $28 million for the home, which he purchased in 2013 for an undisclosed sum, but has since slashed the asking price to $16.9 million. In March, Forbes pegged its value at $15 million.

More Info: www.forbes.com