About the Company

Home Sweet City operates as a full-service vacation rental management company, handling everything from home design and guest communication to maintenance. Homeowners can rely on the business to rent out their properties effortlessly, even while living abroad. The company prides itself on providing seamless services and managing all operational aspects, ensuring the experience is stress-free for clients.

The business started as a way for Lara and her husband to generate income during a challenging economic downturn. Today, it supports a team of six full-time employees and a network of contractors handling cleaning, maintenance, and laundry services. Home Sweet City’s growth has allowed its founders to balance professional success with family life.

Idea Behind Company

Lara moved to the U.S. in 2009, only to lose her job eight weeks later amidst the financial crisis. Facing financial uncertainty, she and her husband decided to rent out their basement to generate income. Initial research introduced Lara to Airbnb, a relatively new platform at the time, which inspired her to offer short-term rentals instead of long-term leases.

What began as a way to cover their mortgage quickly turned into a lucrative venture, earning up to $3,000 per month from their basement rental. Realizing the potential, Lara expanded the concept by helping others rent their properties, laying the foundation for Home Sweet City.

Creating the Company

Starting out, Lara and her husband navigated the challenges of managing multiple listings, designing interiors, and implementing efficient systems. Their focus on attractive home designs significantly boosted bookings, while legal preparations, like guest agreements, ensured the business ran smoothly.

Scaling up to 10 properties revealed the need for operational tools, leading them to adopt a Property Management System (PMS) to handle scheduling and streamline processes. They also learned to manage the unpredictable nature of guest interactions, using experiences to refine their safety protocols and improve operations.

Launching the Business

Home Sweet City officially began when the couple welcomed their first guests in their basement. They initially relied on word-of-mouth referrals and cost-effective tools like SEO to grow their client base. Over time, they gained traction, becoming one of the first companies in D.C. to offer vacation rental management services.

Despite early challenges, including limited resources and a crowded attic-turned-storage for linens, the business steadily expanded. A pivotal moment came with local media coverage during a marketing push, helping them attract more homeowners interested in their services.

Earnings

Home Sweet City has grown into a profitable enterprise managing 75 properties and generating $270,000 in monthly revenue. The business has been consistently profitable for five years and weathered challenges like COVID-19 by downsizing and maintaining low overhead costs. Future plans include launching a digital product to share their expertise beyond the D.C. area, ensuring sustained growth and innovation.

Through strategic investments, local networking, and adaptability, the company has built a reputation for reliability and success, securing its position as a leader in vacation rental management.