In May, millionaire couple Jay-Z and Beyoncé paid $200 million for a 3.2-hectare property in Malibu with a view of the Pacific Ocean. They smashed the record for the most expensive mansion in California with this purchаse. It’s worth noting that, despite spending a fortune on a property, their costs don’t stop there. Every year, this property “costs” them milliоns of dollars. 
What is the cause for such a large sum of money?
The pair said that it’s all for one reason: to keep the property in good condition.
With a massive area of 40,000 square meters, the mega villa needs exceedingly precise care and daily operations, which the couple cannot accomplish (particularly in its current state). their demanding jobs).
“Homes are like machines, requiring regular maintenance,” said Jenny Greenwood Huber, owner and creator of Heritage Estate Management. It will only work smoothly if it is well-oiled.”
As a result, Jay-Z and Beyoncé must engage in Malibu property management services. And the expense of hiring such a workforce is not cheap.
When it comes to property management, this might imply hiring full-time housekeepers to be responsible for keeping all home operations, assisting in staff supervision, and ensuring the property is maintained. While the owner is away, it preserves its attractiveness.
A facility can have up to 50 individuals working at the same time. Of course, the number will vary based on the workload at the moment.
According to the millionaire couple’s statement, this figure exceeds seven figures in a year.
Property owners should expect to spend roughly $5,000 per day for a workforce of 20, which equates to $1.8 million per year. This is only an estimate. The figures may not end there with a really luxurious and vast real estate like Beyoncé’s family.
Huber’s clientele, who are frequently rich company owners or venture investors, can afford to have their pricey properties managed. This sort of service is not inexpensive.
Huber stated that her firm charges a fixed rate of $175/hour for less than 20 hours per month of property management and $150/month for 20 hours or more.
Some clients choose to come in numerous times each month for yearly maintenance checks. Others like to come in more regularly, such as once a week.
Huber claims that her staff might work anywhere from 20 to 50 hours per month at a single facility. Owners spend around $36,000 per year on the low end.
Huber also disclosed that the largest residence she has ever been entrusted with was a 70,000-square-meter secondary mansion. The worth of the job in only three weeks is almost $75,000 at $30 per hour, not adding weekend or overtime work – an expensive price even if they own a substantial fortune.
Beyoncé will most likely relocate into this opulent mansion after completing her 57-city Renaissance World Tour. The female artist is expected to earn $2 billiоn USԀ after this global tour. Previously, she was paid $24 million USԀ to sing at the inauguration ceremony of Dubai’s premium hotel, Atlantis The Royal.