David Charvet and Brooke Burke put Malibu mansion back on the rental market for $50k per month after slashing price tag by a third

PUBLISHED: 14:14 EST, 24 March 2013 | UPDATED: 16:03 EST, 24 March 2013

They had already put it on the rental market after an attempt at selling failed to attract any buyers.

But it seems even this did not have the desired effect as David Charvet and Brooke Burke have now slashed the monthly rental price by a third to just $50k per month.

At first they tried to completely wash their hands of the property in 2011, when they put the luxury five bedroom home on the market for an eye-watering $12.5m.

Brooke Burke and David Charvet want to rent their Malibu home for 50,000 a month

But this proved to be a less-than-attractive price point, so the flexible couple soon changed their plans.

In June last year they decided it would be a good idea to take advantage of the luxury summer lease rental market, though they again blundered by asking for the princely sum of $75,000 per month.

It seems the shrewd couple have learned their lesson, as the former Baywatch hunk and his Dancing With The Stars host wife have made a considerable cut this time round.

Chateau Charvet, as the cheesy pair named their French-style home, was built for the couple and their four children.

French fancy: The pair imported fireplaces from France to give their 'Chateau' an appropriately Gallic flavour

Between a rock and a soft place: This custom build outdoor sitting area has comfortable seating and a fireplace

Second time lucky: They will be hoping the hefty price cut makes their latest attempt at renting a success

David paid $1.275m for two acres of L-shaped land in 1998, and started building building the home before he started dating Burke in 2006, though the couple later renovated the two-storey property, which measures 6,769 square feet.

It boasts a spectacular 18th century fountain in the grounds, along with flickering gas lamps, while an infinity swimming pool and spa provide space for recreation.

The interior is also impressive, with imported French fireplaces, a wine cellar, hidden screening room, open plan family rooms and even an 'off-season' closet for where Brooke can store her excess outfits.

The home is in the private Serra Retreat, a favourite with celebrities its tight security keeps overly enthusiastic fans at bay.

Who needs the beach: The dynamic duo can enjoy a relaxing dip in the comfort of their own garden

Tea time with Jim: An enterprising tenant could invite neighbour James Cameron round for afternoon refreshments

Well equipped: The infinity swimming pool and spa are enviable facilities that will attract plenty of interest

The estate is also home to Mel Gibson's ex-wife Robin, film producer James Cameron and Real Housewives personality Camille Grammer.

Brooke previously talked about her happy home life, saying she has given up on trying to 'do it all'.

'When I was a new mom, I used to think that life was going to be balanced, and I strived for that,''But life is crazy.

'I’ve got two little ones a year apart and two older daughters and a million things to do.

'I gave up on the expectation that everything was going to be picture-perfect. Balance is a joke.'

Secluded: The house is surrounded by the nearby mountains and offers spectacular views year round

She also talked about how the couple keep their relationship fresh.

She said: 'It’s Familyville in my life, but David and I make sure to escape once a week. So maybe on a Sunday night, we’ll go out to dinner at a favourite Malibu restaurant.

'Or at home we get the candles, the music - the whole deal - and we close the bedroom door. We have a rule in our house that you have to knock on closed doors.

'Someday the kids might be like, “I smell the candles, I hear Maxwell playing…” but thank God they’re not old enough to figure that out yet. I do not want to have to explain that one.'