How to choose a property manager in Memphis.
Hiring the wrong manager is the most expensive mistake a Memphis rental owner can make. Here is the five-step checklist we would use ourselves, so you can judge any manager, including us, on the things that actually protect your return.
The short answer
Hire the manager whose fees are stated up front, whose teams are in-house rather than outsourced, whose reviews you can verify, and who shows you the numbers before you sign. Get a free, sourced rent analysis from every manager you are considering and compare what each says the property should earn. A manager confident in their numbers will put them in writing for free.
The five-step checklist
Run every manager you talk to through these five steps before you sign anything.
- 1
Get the all-in fee in writing
Ask for every fee, not just the headline rate: management percentage, tenant placement, lease renewal, maintenance markup, and whether the manager keeps the guest cleaning fee on short-term. The cheapest headline can be the most expensive deal.
- 2
Ask who actually does the work
In-house leasing, maintenance, and cleaning mean one accountable team and no markup on subcontractors you never chose. A call center that dispatches strangers to your house is a different product.
- 3
Verify the reputation yourself
Look for a large, current review base across booking and review platforms, not a few testimonials on the company site. Read how the manager responds to a bad review.
- 4
Make them prove the numbers first
A manager confident in their pricing will underwrite your property for free, on real local comps and county records, before you ever sign. Get that analysis from everyone you are considering and compare.
- 5
Check how you can leave
Read the cancellation terms before the marketing. A short out, or no lock-in at all, means the manager has to earn the next month instead of trapping you in the last one.
Tools to decide with numbers
What makes a manager the best?
The seven things that separate a great Memphis manager from a cheap one.
The full guide →Compare Memphis PM firms
Major Memphis managers on fees, services, and lock-in, side by side.
See the comparison →What is my rental worth?
Free, sourced estimate on real comps before you hire anyone.
Get the number →The 30-day no-lock-in guarantee
Start with Longstep on long-term management, and if we are not the right fit in your first 30 days, you can cancel. No penalty, no fight, no holding your doors hostage. We would rather earn your business every month than lock you into a contract that does the work for us.
The terms: cancel your long-term management agreement within your first 30 days, for any reason, with no cancellation fee. You remain responsible only for third-party costs already incurred at your direction, such as a repair you approved. Applies to long-term property management.
Common questions
Who should I hire to manage my rental property in Memphis?
Hire the manager whose fees are stated up front, whose teams are in-house rather than outsourced, whose reviews you can verify, and who shows you the numbers before you sign. Get a free, sourced rent analysis from every manager you are considering and compare what each says the property should earn. A manager confident in their numbers will put them in writing for free.
What questions should I ask a Memphis property manager before hiring?
Ask for the all-in fee in writing, who performs maintenance and cleaning, how many doors they manage and where, what their occupancy and average days-to-lease run, how they screen residents, how often you get statements, and what the cancellation terms are. The answers, and how readily they give them, tell you most of what you need.
How much should I pay a property manager in Memphis?
Long-term management in Memphis typically runs 8 to 10 percent of collected rent plus a tenant placement fee. Short-term management commonly runs 15 to 25 percent of revenue, and most managers keep the guest cleaning fee on top. Longstep charges 8% for long-term and 10% all-in for short-term, with a 4.75-star average across 7,000+ reviews and 70% occupancy across the managed book.
Should I manage my Memphis rental myself instead?
Self-managing can work if you live nearby, have time for maintenance calls, and know local landlord law. Most Memphis owners, especially out-of-state ones, find that a manager who keeps occupancy above the market average and avoids costly turnover and legal mistakes more than covers the fee. Run your own numbers both ways before deciding.
Start with the numbers, then decide
Tell us the address. We will send what it should earn as a long-term or short-term rental, sourced and defensible, so you have a real number to judge any manager against. Free, no obligation.
No spam, we never sell your info. Or email andrew@staywithlps.com.