I had the pleasure of interviewing 33-year-old Tal Maimon, CEO of Maimon Luxury Rentals and Concierge services. He currently lives in Los Angeles taking over the luxury rental business. I wanted to learn more about this business and the lessons he had for entrepreneurs who might be interested as well. Here’s what he had to say:
Thank you so much for joining us! Can you give us a look into your background story and how you got started in the Luxury Rental Business?
Tal: At age 23 I completed my service in the Israeli Navy and decided to move to united states. I worked as a waiter for the first year and slowly began to set my sights on a position that was more financially stable. After that I worked in construction to gradually build my knowledge on how to build a home, from cost of materials and goods to financing. I really enjoyed my work however, I had always felt that my interest’s were in real-estate. During my work in construction I took the opportunity to invest in a solar company which I am currently a partner at. By this time in my life I was also a nightclub owner and partner in a production company.
The lessons I have learned during this process have played a huge role in my success. The people I have met along the way have been so inspirational and have really shown me that with dedication and hard work anything is possible.
It’s sort of full circle for me that I’ve ended up where I am today. Growing up my father was in real estate and I remember him always pushing us to pursue a career in real estate as well. In 2017 I decided to take the initiative and combine all the connections I have made over the years with clients, realtors and homeowners and provide a luxury service for high end clientele. By 2018 it was apparent that I needed to expand my business since the demand for this specific kind of luxury services was high. I got in touch with every homeowner I knew and slowly started to expand my listings. It’s been a fast growth but that’s not to say that hard work hasn’t been done. On the contrary I have spent countless hours going over details and contracts with both home owners and the clients to insure all parties are satisfied. Every job, lesson and hardship I have had has fully prepared me for the position I currently have. I really enjoy what I do and that to me is a blessing in itself.
Can you share the most interesting story that happened to you since you started your company?
Tal: Once I had an individual contact me regarding a birthday for their 75 year old grandmother. They had given me the list of the attendees and what I assumed was the correct number of guests. It sounded like a great gathering with friends and loved ones. We also had a mutual friend so to me it sounded like a great deal and I agreed not to take a big deposit. I knew that both the homeowners and the clients would be happy with the services that I was providing.
So, I went ahead and verified the booking and received the payment and all was well. Little to my knowledge the house I had just rented out was being used for a party of 100+ people who were parked all over, blocking homes and driveways, and creating an overall disturbance, not to mention breaching a contract they had signed. Needless to say I was left to deal with the aftermath of police officers, tow trucks, not to mention all the damage that was done. That day I learned a very important lesson. To protect myself, homeowners and clients because at the end of the day, this business works best with long term relationships and commitments.
What inspired you to go after the luxury renting Industry?
Tal: I wasn’t born into a luxurious life style but growing up I always knew that I wanted to have more. It just so happened that my father’s advice along with my connections gave me a perfect platform to launch Maimons Group.
What has been the biggest challenge and, on the flip side, the biggest reward of starting the Maimons Group?
Tal: The biggest challenge was transitioning from nightlife to luxury services. Of course, it’s a completely different clientele and of course, we all know how much doubt there is with starting a new business. But I truly believe that if you aim for perfection and set high standards for your own performance, then you will succeed
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? What lesson did you learn from them?
Tal: Adrian, who has been my friend for over 10 years was the one who introduced me to this market and really showed me the ins and out of what it takes to have a successful rental company business. It is because of him that I used my connections in the city and applied it to this business. An I am immensely thankful for him. It’s a blessing to be around people who support you and help you to reach your end goals.
What is the best advice you’ve ever received?
Tal: The best advice would have to be the one my father gave me. I remember his words vividly.
“Pick your partners wisely, everything is good when its good and everything is bad when is bad. to get in to partnership or a relationship is easy, to finish them is where it gets hard and ugly.”
What were the biggest entrepreneurship lessons you learned from your experience with Maimons Group?
- The biggest lesson for me has been to deal with homeowners and clients directly. This way you’re minimizing misunderstandings and you’re also building a connection that will essentially bring you returning clients.
- Always make sure to have the payment and deposit before the client checks in. In this way you’re protecting the homeowners and yourself. So many people in this city bypass this very basic step and end up with damaged property and extended stays that will never be paid for. My goal has always been to protect the homeowner and provide a nice experience for the client.
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