First daughter Ivanka Trump and first son-in-law Jared Kushner are paying $15,000 rent a month for their mansion in the Washington D.C. neighborhood of Kalorama, which is also home to Secretary of State Rex Tillerson and former President Barack Obama.
According to a report by the Independent Tuesday, the couple, who serve as unpaid advisers to President Donald Trump, are renting the property from Andronico Luksic, a Chilean businessman suing the U.S. government over a multi-billion dollar copper-and-nickel mine in Minnesota. Construction of the mine was blocked by the Obama administration due to environmental concerns, as the mine is located near a Minnesota wilderness area.
The $15,000 a month in rent of the couple’s property totals to an annual sum of 2.5 percent of the home’s value, after subtracting $40,000 in taxes and insurance usually paid by the landlord. According to the Wall Street Journal, some real estate experts feel this represents a questionable investment on Luksic’s part.
“That’s a terrible investment, ”Joshua Adler, an owner of rental properties in Washington, bluntly told the WSJ. Adler said Ivanka Trump and Jared Kushner are “getting use of a $5.5 million home for far less than it normally costs to have a home of that value.”
While the connection between the couple and Luksic raises questions of conflict of interest, Rodrigo Terré, a relative of Luksic who manages his personal investments, told Fox News in March that there is no relationship between the mining dispute and the rental of the property to Kushner and Trump.