Scottsdale’s very own Sean and David Parsons are carrying on a family lineage of pioneering the real estate industry. Their firm, named Parsons Villas, isn’t exactly what you’d think of when conjuring the idea of disruptive real estate business models, but that’s exactly what they’re doing.
So let’s take a peek inside their world, and we’ll share with you some fascinating insights of how they’ve navigated and pioneered the short-term rental management industry from AZ to Mexico and soon beyond.
With the culmination of tech, acumen and timing, this father/son team is taking the industry by storm. When red tape would pose an impediment, these two didn’t give up. In fact, they became revolutionists who legalized the short-term rental game and continued active lobbying with heavyweights like former congressman and lawmaker Barry Goldwater Jr.
The Parsons, along with Goldwater Jr., The Goldwater Institute, and Governor Doug Ducey, established Senate Bill 1350 in 2016. With it came the guidelines and rules around an otherwise wild west of monetizing real estate assets in a nontraditional way. The truth is, without this bill and the early codifying work done by the Parsons family, Arizona’s burgeoning vacation rental niche would likely be a mere idea.
The hot vacation rentals in Arizona are now promoted by major companies such as VRBO and Airbnb and compete on a local level with Parsons Villas which has a formidable and growing Scottsdale real estate portfolio.
The Parsons commitment to excellence and higher standards have also won them the prestigious Best of Our Valley award three years in a row by Arizona Foothills Magazine, along with a fiercely loyal client base.
Building the Market
To aid in bringing awareness to the industry, Sean, along with his father, David, Goldwater Jr., Ken Pinckard, and Timothy Scarpino, established the Arizona Vacation Rental Association (AVRA).
This was one of Arizona’s first trade associations designed to normalize the fragmented, short term rental industry and enforce the “Good Neighbor Policy,” a policy that sets the standard for how Arizona’s short term rental homes operate in the communities they serve.
AVRA members commit to the idea of being part of the solution rather than the problem. They also agree to not allow events or parties in their homes as well as agree to resolve nuisance complaints quickly and pay their fair share of applicable taxes as members in good standing.
Since 2016 and the passing of the Senate Bill 1350, Parsons Villas has been the leader in the Scottsdale and Phoenix short-term luxury rental industry. With more significant gross and net revenue than any other short-term rental agency in the state, Parsons Villas is, hands down, the “Best Luxury Vacation Rental in the Valley.”
When sitting down with David Parsons, he says, “Parsons Villas only manages meticulously renovated, handpicked villas in Scottsdale, Paradise Valley, Phoenix, and Cabo San Lucas. Not every applicant gets chosen, and, in fact, more homes are turned away from joining our rosters than are accepted: the result — absolute quality control over design, amenities, and service.”
Additionally, they only implement their check systems to communicate directly with cleaning staff, handy persons, and their world-class concierge. They deploy a technology to field special requests from tenants which automatically get pushed to the Parsons team members’ communication devices. This allows them to lead the industry in terms of response time and collaboration with their guests.
As Sean says, “Ultimate quality control, family-run customer service, and market saturation lead to total customer satisfaction. That’s our goal, ethos and mission here at Parsons Villas.”
Managing over a dozen vacation rentals that range from one-bedroom condominiums to 10-room mansions and estates in and around Scottsdale is pure joy for Sean and David, and they fulfill a dream together.
Their dynamic pricing model allows them to compete with the biggest companies in the vacation-rental space. Short-term rental pricing traditionally has seen stagnant pricing which has driven up costs for guests while crushing profits for owners through what they believe to be excess fees and taxation. Their unique model is proving out to be a win-win for all involved.
Parsons Villas is constantly analyzing current large-scale events in the area, property values, and competitors to price ever-changing rates. Instead of having a home sit vacant due to extremely high rental rates, Parsons Villas pricing reneging adjusts rental prices on the fly so as to yield the best savings for their guests (who they refer to as “friends”) while garnering the best possible fees for their homeowner clients (they refer to as “partners”). Their unique model gives stunning properties throughout Scottsdale a new purpose and benefits our community by way of guests having more travel funds to purchase local goods, services, and products during their stay.
Apart from the dynamic pricing, Parsons Villas amenities and concierge service rival 5-star resorts through “Parsons Exclusive.”
The Parsons Exclusive program offers discerning guests in-home chefs, massages, dinner reservations, table service to the hottest nightclubs, car service, tours, boats, VIP seats to the Suns, spring training, and more.
Sean says, “Whatever our guests want, Parsons Villas will do our very best to accommodate.”
Parsons Villas PV Fleet
Sean keeps his finger on the pulse of the hottest trends in lifestyle and luxury.
One such example of how he leverages this insight is the Parsons Villas PV Fleet, which allows their guests to rent luxury vehicles loaded with premium features. These vehicles include iconic Volkswagens, Shelby’s, off-road-ready Jeeps, and the ever-envied turbo-charged Range Rovers. With the Parsons Villas PV Fleet, you’ll stay and drive throughout Scottsdale in style.
However, the one thing that is always present with Parsons Villas is their desire for growth in the market. After dominating the Arizona short-term rental industry, Sean and David’s growing operation has expanded as far as Mexico with stunning mansions in Cabo San Lucas.
Parsons Real Estate Fund
This year, Parsons Villas also introduced their Parsons Real Estate Fund (PREF). PREF seeks to raise $100M to acquire and position Class A real estate properties as short-term rentals in the Scottsdale/Paradise Valley, Arizona, Cabo San Lucas, and greater Mexico markets.
The fund will acquire between 25 to 50 luxury, short-term vacation rental properties in the Phoenix and Scottsdale area and will be structured as a close-ended investment vehicle in which investors will make capital commitments called in during the investment period.
Short-term rentals are the fastest-growing segment of consumer travel, and this father/son real estate duo are at the helm of Parsons Villas to revolutionize and capitalize on it.
Scottsdale and Cabo San Lucas are two of the world’s top vacation rental destinations. Parsons Villas award-winning service will manage these properties to optimal performance using the most advanced and sophisticated yield management tools available today.
Property owners can be a part of Parsons Villas growth now more than ever.
Their award-winning property management company takes over the day-to-day management of the properties once they become part of the Parsons Villas portfolio.
Properties will benefit from Parsons Villas well-honed process which seeks to position each vacation property for the needs of the luxury traveler and distribute them to over 60 online travel agent professionals.
The best time to plant a tree was 20 years ago. The next best time is now.
Parsons Villas makes homes the best investments they can be.