We were lucky to catch up with Ellie Paget recently and have shared our conversation below.
Ellie, thanks for joining us, excited to have you contributing your stories and insights. So, let’s start with trends – what are some of the largest or more impactful trends you are seeing in the industry?
We are discovering that more often people are pursuing homes that are turn key. Our clients are coming to us and acquiring homes at higher price points as well. Some other trends are the design component. As short term rental designers and acquisition experts, the trend in design is gearing more towards experiential luxury. Where everything flows in an order and has elements of surprise.
Ellie, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
HomeSlice Stays is a national investment, design and management firm for Luxury Vacation Rentals. We handle the underwriting, turn key acquisition and hospitality component.
We have over 9 years of experience in the industry managing over 600 properties across the country in 15 different markets.
We handle all of the logistics from the start of the idea from sourcing a home to checking in the first guests and that gives our investors a sense of peace throughout the period in which they dabble into this industry.
Our homes perform at higher than usual rates on their returns due to our ability to market the homes with exceptional design that captivates and wows our guests. We offer luxury experience packages during their stay as well as 24/7 care.
We partner with local companies to offer exclusive access to the homes for high value events like the SuperBowl or baseball training.
Count on us to oversee your Luxury Vacation Rental!
Can you talk to us about how your funded your business?
I used to have the biggest ceiling that I held over my own head. When I finally stepped out on my own, the first thing I did was march across the street to a gorgeous new development that was coming up in the heart of Phoenix. The developer wasn’t there so I had to ask for his number from his contractors. That was my first management client, after a lot of convincing, and nuancing, I had two luxury condos that I was able to showcase. Being able to work for someone else for so long, really hones a lot of skills that were necessary for implementing the structure of my new business, however its terrible for self-confidence to always look upwards for answers. There wasn’t any money for the foundation of my business. However, it’s really a minimal cost to structure an LLC or go through and handle your operating agreements (like 200 dollars maybe.) My one word of advice is DO IT, just get on your computer and structure an LLC now, for your side hobby or your main passion. There is NOTHING standing in your way but yourself.
Any stories or insights that might help us understand how you’ve built such a strong reputation?
The climate and nature of our business is hospitality, this always offers our team the challenge to experience ways to be more empathetic and sincere. It’s interesting how powerful it is in our industry, being genuine, and authentic, and really making that the core of our operations. Going back nearly ten years ago, when I first started in the District of Columbia, I remember the fluctuations of being demanded in so many directions. I was driving around managing 12 homes and also managing several across the country. Since then, I’ve narrowed my focus, we are now known for Luxury and handling larger villas and transactions. We are now there from inception, designing every home we manage, doing major renovations and constructing new pools, to create longevity and value. Delivering luxury is how we have carved our niche, and it’s in everything we study to how we treat our clients and guests.
- Website: www.homeslicestays.com
- Instagram: @homeslicestays