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January 7, 2015updated Dec 20, 2023

3RD Home Proves The Sharing Economy Trickles Up To The Wealthy

By Neharika Padala

It turns out even the rich out don’t mind doing their version of AirBNB.  Of course, you have to be one of them to get inside the gated walls, and the digs are not couches and spare rooms but lavish villas, lodges and estates.

With former NetJets marketing boss Steve Zacks leading the charge 3RD HOME is approaching 3,000 homes in its Monopoly board style of swapping lavish homes.


Using the tagline “Vacation Brilliantly” Zacks points to the venture as evidence “that luxury consumers are also now participating in the sharing economy.”  In addition to sites that enable renting designer handbags and dresses, several watch (Eleven James) and jewelry sharing (Haute Vault) ventures have taken off in the past year.

The 3RD HOME website states the company “was created to fill a need expressed by second homeowners to find a safe and trustworthy way to ‘expand’ the use of their second homes without the hassles of renting. By depositing weeks in their second homes into the club, members can reserve another great home any time – in advance or the last minute. Members simply go online, browse, click and instantly reserve their vacations. With hundreds of desirable destinations to choose from, our intuitive and interactive site also allows members to set alerts and reach out to others to plan their getaways.”

To be accepted into the club, members’ properties must be located in a desirable location with quality furnishings, appointments and amenities, says Zacks.


The minimum value of homes in the portfolio is $500,000 and the average value is $2.4 million with a cumulative value of $6.7 billion.  Early last year the venture added The Ritz-Carlton Club, and 3RD HOME now has affiliations with over 35 resorts and residential developments, including the recently added Stein Eriksen Lodge in Deer Valley.

For those that qualify, the standard initiation fee of $2,500 is currently being waived for new members. And there is no required annual membership dues.  The only cost is an exchange fee of $395 to $995 for each week reserved.

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