Memphis Property Management Companies Compared | 2026 Fees | LPS
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Memphis property management · Updated May 2026

Memphis property management companies, honestly compared.
Most do one thing. We do both.

Short-term and long-term rentals, managed end-to-end by the same in-house team. This Memphis property management comparison covers 10 firms with verified May 2026 fees, LTR specialists and STR specialists, and we name the situations where one of them is the better call than us. If you are evaluating Memphis property management firms, this is the only page that publishes every fee side by side.

Model STR + LTR under one roof Founded 2024 · operators since 2010 HQ 3638 Park Ave, Memphis TN Coverage Memphis · Shelby County
First: what are you managing?
01
Switch savings · Live

What you'd actually pay, by firm.

Most pricing pages quote a percentage and leave you to do the math. This calculator runs it for every Memphis property management company that publishes fees. Adjust the numbers and the result moves with you.

Your annual savings with LPS
← Enter monthly rent on the left to see annual cost differences across every published firm Adjust your numbers. The math updates live for every published firm.
How the math works. LPS long-term: 8% of rent you actually collect, plus 50% of one month's rent when we place a tenant, plus $195 if we renew the lease. Annual inspection is free. LPS short-term: 10% of your gross bookings, all-in. No separate cleaning, linen, software, or pricing-tool fees added on top. Competitors: we used each firm's latest published rates as of May 2026. For PropertyPeak we added an estimated 4% on top of their 10% cohost fee, because their cleaning and linen are billed separately. Firms that don't publish their fees publicly (Reedy) are left out of the comparison. We won't guess on your behalf.
02
Apples to oranges

We aren't a better property manager. We're a different category.

The other firms on this page each run one service line (either long-term rental management or short-term rental management) and outsource the rest. LPS runs two service lines and owns the supporting infrastructure for both. That isn't marketing; it's a different operating model.

Most other firms

Single-service model
Long-term rentals
  • Tenant placement
  • Rent collection
  • Maintenance dispatch
  • Owner statements
  • Cleaning crew (subcontracted)
  • Short-term rentals (not offered)
  • In-house laundry (not offered)

LPS

Two service lines · one operations stack
Long-term
  • Tenant placement
  • Rent collection
  • In-house maintenance
  • Renewal negotiation
  • Owner statements
Short-term
  • Listing & dynamic pricing
  • In-house turnover crew
  • In-house laundry facility
  • 24/7 guest comms
  • Ordinance 5631 compliance

If you own only LTRs and never plan to touch STR, the difference may not matter to you, and we'll say so on the call. If your portfolio might evolve, having both under one roof means you switch strategies without switching managers. The "Who to pick" matrix below is where this gets concrete.

Switch & Save

Switch from any Memphis PM. First month is on us.

We've onboarded dozens of owners off other Memphis firms. We know the 60-day notice paperwork by heart, we know how each competitor handles handoff, and we won't ask you to do any of it alone.

Day 0
Notice prepared
We draft your termination letter to your current firm. You sign, we send.
Day 1–14
Records transferred
Tenant info, lease, deposit, maintenance history. No gaps for you to fill in.
Day 60
First month free
Your first full month of LPS management. No fee. Real onboarding, real ROI.
See my switch savings
03
Verified operating numbers

The metrics that decide your actual ROI.

"We're responsive" is not a number. Every figure below is measured monthly off our property-management system. We show the methodology so you can compare apples to apples when you call another firm.

< 2 hrs
Average STR turnover time, checkout to next check-in ready
In-house crew, in-house laundry, no vendor handoff
47 min
Median maintenance ticket first response, business hours
In-house general dispatch · licensed MEP via vetted subs
96.4%
LTR on-time rent collection rate, last 12 months
Industry benchmark: 91% (NARPM 2024)
21 days
Average days to lease an LTR after listing, last 12 months
Memphis market avg: 38 days (MAAR)

We publish these because if we publish them, you can hold us to them. Ask any firm on this page for the same four numbers. Most can't, or won't, produce them.

All operating numbers measured monthly from the LPS AppFolio property management system. Trailing 12 months ending May 2026. Industry benchmarks sourced from the NARPM 2024 Member Survey and the Memphis Area Association of Realtors. Methodology available on request.

04
Honest matrix

Pick LPS when it fits. Pick someone else when it doesn't.

We're not the right manager for every Memphis owner. Below is the call we'd make if you described your situation to us over the phone. If you're one of the cases where another firm is the better fit, we'd rather you go to them than have a bad year with us.

Pick LPS
Longstep Property Solutions
You own an STR, an LTR you might convert, or any mix of the two. You want one team, one in-house ops stack, and you're willing to trade national scale for hands-on Memphis attention.
Mgmt: 10% STR / 8% LTR Model: STR + LTR STR: Yes
Pick Evernest
Evernest
You own LTRs in multiple states and want one platform across markets. Their 21-day leasing guarantee and 12-month eviction protection are real differentiators if you only want LTR.
Mgmt: 8% ($199 cap) Markets: 33+ STR: No
Pick Reedy
Reedy & Company
You have 50+ doors and need capacity. 100-person Memphis team and 3,500+ doors under management means they can absorb scale and source acquisitions through their investment arm.
Founded: 2002 Doors: 3,500+ Fees: Not published
Pick CrestCore
CrestCore Realty
You value detailed financial reporting and licensed in-house trades (plumbers, electricians, HVAC). Investor-founded with an on-staff CPA. The most expensive published option, but the bookkeeping is real.
Mgmt: 10% Placement: 75% of 1st STR: No
Pick HomeRiver
HomeRiver Group
You have a national footprint and want one dashboard. Memphis is a branch of a larger US platform. Strong for absentee owners managing a portfolio across many cities, less so for Memphis-only operators. 10% management fee with volume discounts at 11+ units.
Mgmt: 10% (8% at 11+) Scope: National STR: No
Pick PropertyPeak
PropertyPeak
You want a Memphis-local STR cohost at a 10% headline rate and you're willing to coordinate cleaning, linen, and turnover with the third-party crews they sub the work out to.
Mgmt: 10% STR STR-only: Yes LTR: No
Pick Awning
Awning
You own STRs in multiple US markets and want a national tech-forward platform with one dashboard. Memphis is one of many. Strong software, less local nuance, third-party cleaning.
Mgmt: 10–15% STR Scope: National LTR: No
Pick Vacasa
Vacasa
You want a name-brand national vacation rental platform with deep distribution. Expect the highest STR management fee on this page and a corporate playbook, not a Memphis operator.
Mgmt: 25–35% STR Scope: National LTR: No
Pick Foundation
Foundation Property Mgmt
You own LTRs in builder-aligned new construction and want a manager comfortable with that pipeline. 8% headline rate, smaller than Reedy, less corporate than Evernest.
Mgmt: 8% LTR Local: Yes STR: No
Pick Renshaw
Renshaw & Company
You want a long-tenured family-run Memphis LTR shop. 9% headline rate with a $55 monthly floor, decades of local relationships. Best fit for owners who value continuity over tech.
Mgmt: 9% LTR · $55 min Local: Yes STR: No
Pick CB Properties
CB Properties
You own LTRs and want a smaller Memphis firm willing to take on workforce and Section 8 units. 10% with an 80% placement fee. More flexibility on portfolio mix, higher placement cost.
Mgmt: 10% LTR · 80% placement Local: Yes STR: No
Not sure yet?
Talk to us free.
If your situation doesn't cleanly match a card above, get on a 20-minute call. If we're the right fit, we'll tell you. If you're better served elsewhere, we'll tell you that too, by name.
(901) 244-2911 See my switch savings →
05
Proof, not prose

The statement you'd get. The crew you'd work with.

If you can't see how money moves and who's touching the property, you can't evaluate a property manager. Here's the statement format you'd receive each month, sketched against a representative Cooper-Young duplex, alongside the in-house team behind it.

Sample monthly statement
A duplex in Cooper-Young · April 2026
Owner statement · representative Statement #2026-04
Income
Unit A: rent collected $1,650.00
Unit B: rent collected $1,725.00
Gross income $3,375.00
Expenses
LPS management (8%) −$270.00
HVAC service · Unit A · Inv #4421 −$185.00
Lawn · Apr · in-house −$80.00
Total expenses −$535.00
Net to owner $2,840.00
Every line item links to the underlying invoice or work order in your owner portal. Figures shown are representative of a Cooper-Young duplex at market rents. Your statement will reflect your property's actuals. Get a full sample PDF →
In-house, on payroll
The same crew working your property every month. No vendor merry-go-round.
Maintenance technicians
W-2 employees for general maintenance and repairs. Licensed MEP work (plumbing, electrical, HVAC) handled by vetted local contractors we dispatch and supervise.
In-house
STR turnover crew
LPS-trained cleaners · turnover under 2 hrs from guest checkout to ready
In-house
Laundry operations
LPS-owned commercial facility · linens washed and delivered for every turnover
In-house
Ops and guest support
A four-person operations and guest support team. Near round-the-clock coverage for STR guest issues. Direct office line for owners, not a national call center or ticketing queue.
4-person team
You'll meet the full team during onboarding. We don't publish staff photos because the same people who maintain your property also work in homes guests stay in, and we protect their privacy.
06
Full transparency

Every fee. Every firm that publishes.

Published rates only, no speculation. Firms that require a sales call before sharing prices are marked "Not published." We list our fees here because owners should be able to compare before committing to a call.

Long-term rental management: every firm, every fee

Firm Monthly mgmt Tenant placement Lease renewal Inspection Cancellation Maintenance
LPS Memphis · STR + LTR 8% collected 50% of 1st month $195 Included $0 · 60-day notice In-house general; licensed MEP subcontracted
Evernest National · 33 markets 8% ($199 cap) 50% ($500 min) $250 $149 $0 In-house team
CrestCore Memphis · investor-founded 10% 75% of 1st month Not published Not published Not published In-house (licensed trades)
Reedy & Company Memphis · 3,500+ doors Not published Not published Not published Not published Not published In-house (25+ staff)
HomeRiver Group National · Memphis branch 10% (8% at 11+ units) 50% of 1st month $250 $95/unit (optional, biannual) $0 24/7 emergency included
Foundation PM Memphis · builder-aligned 8% collected Not published Not published Not published Not published Sliding markup: 20% under $250, 15% $251-500, 10% $501-1K, 5% over $1K
Renshaw & Co. Memphis · long-tenured, $55 min 9% collected Not published Not published Not published Not published Not published
CB Properties Memphis · workforce focus 10% collected 80% of 1st month Not published Not published Not published Not published

Short-term rental management: the only Memphis local on the page

Firm Mgmt fee Cleaning + linen Memphis presence Pricing tool markup
LPS Memphis-based, STR + LTR 10% gross In-house cleaning, in-house laundry Local team, on-call turnover None. No PriceLabs/Beyond pass-through
PropertyPeak Memphis STR cohost 10% gross Outsourced (subcontracted) Local team Pass-through likely
Awning National STR platform 10–15% gross Third-party Remote / partner-based Pass-through likely
Vacasa National vacation rental brand 25–35% gross (reported) Third-party + W-2 mix Branch-based Pass-through likely
Evernest, CrestCore, Reedy, HomeRiver, Foundation, Renshaw & Co., CB Properties LTR-only firms Do not manage short-term rentals in Memphis.

All data verified May 2026 from public pricing pages. Evernest: memphisproperty.management/pricing. CrestCore: crestcore.com/memphis-property-management. HomeRiver: verified from published Memphis pricing page, May 2026. Reedy does not publish a Memphis-specific fee schedule online.

07
Decision toolkit

Six questions to ask any Memphis property manager.

If you only do one piece of homework before signing a management agreement, do this. The answers separate operators from coordinators.

Is the management fee on rent collected or rent due ?

Why it matters:"Collected" means you only pay when your tenant pays. "Due" means you owe the fee even during vacancy or non-payment. Single most important contract detail. LPS: Rent collected.

What's the total first-year cost on a $1,500/mo rental?

Why it matters: Forces the firm to add up management, placement, onboarding, inspection, and renewal fees. Two firms quoting "8%" are not the same firm until you do the math. LPS: Use the calculator above.

In-house maintenance, or third-party vendors?

Why it matters: In-house = faster response, predictable pricing, accountable team. Third-party = coordination layer between you and the repair, plus possible markup. LPS: In-house crew for general maintenance. Licensed MEP trades (plumbing, electrical, HVAC) subcontracted to vetted local contractors.

How many properties does my assigned PM handle?

Why it matters: 80 doors per PM is a different experience than 400 doors per PM. Neither is wrong, but you should know the ratio before signing. LPS: Office leadership manages all owner relationships directly. No call centers, no ticketing queue between you and a decision-maker.

Can I see a real, redacted owner statement?

Why it matters: Statement quality varies wildly. A good one shows income by source, expenses by category, maintenance detail, and a running balance. If it's a one-liner, keep looking. LPS: Sample above; full PDF on request.

Do you manage short-term rentals?

Why it matters: Even if you only own LTRs today, this tells you whether your manager has operational depth as your strategy evolves. Converting LTR→STR with one firm is seamless; across two firms, it isn't. LPS: Yes, both, in-house.

08
FAQ

The questions owners actually ask.

Who wrote this comparison?
Longstep Property Solutions. We're one of the companies being compared, and we're upfront about that. The only other "comparison" content currently ranking in Google for Memphis property management was also written by one of the listed firms. The difference: we include verified fee data, profile every firm honestly, and recommend competitors by name where they're the better fit.
How were the fees verified?
All specific dollar amounts were pulled from each company's public website or pricing page as of May 2026. Evernest publishes the full schedule at memphisproperty.management/pricing. CrestCore publishes management and placement fees at crestcore.com/memphis-property-management. HomeRiver publishes Memphis-specific pricing including volume discounts for multi-unit portfolios. Foundation, Renshaw, CB Properties, PropertyPeak, and Awning publish headline rates on their own marketing pages. Vacasa's 25–35% range is reported industry-wide and confirmed in publicly filed materials. Reedy does not publish a fee schedule; we did not call them posing as prospects. "Not published" means exactly that.
Why is LPS the only Memphis firm managing STRs at scale?
A handful of cohosts in Memphis will list your property and outsource the operations. PropertyPeak is the most visible. The national platforms (Awning, Vacasa) will too, from out of state. What no one else in Memphis runs is the operational stack underneath an STR: cleaning crews that can turn a property in under five hours, an in-house linen supply and laundry operation, 24/7 guest comms, dynamic pricing expertise, in-house maintenance technicians, and compliance with Memphis Ordinance 5631. Building that is expensive. We built it because our founders started as STR operators, and the LTR business grew out of that. Every other LTR firm on this page never added the STR layer; every other STR option on this page subs the work out.
Is LPS too new to trust with my property?
LPS was incorporated in 2024, but the team has been investing in, renovating, and managing Memphis rental properties since 2010: STR, LTR, and mixed portfolios across the same neighborhoods we now manage for owners. We're not a startup experimenting with property management; we're operators who formalized what we'd been doing for over a decade. Our STR case study and LTR management page have the specifics.
What about firms not listed here?
Memphis has dozens of property managers. This page covers the firms with the strongest published presence in owner searches: LPS, Evernest, Foundation, Renshaw, CrestCore, CB Properties, Reedy, and HomeRiver on the LTR side; LPS, PropertyPeak, Awning, and Vacasa on the STR side. Other firms worth researching: Specialized Property Management, Enterprise Property Management, Jander Group, Realty Capital Management, and One Fine BnB. We may expand the comparison over time.
Does LPS manage outside Memphis?
We manage in Memphis and Shelby County, including Bartlett , Cordova, Germantown, and the surrounding metro. We don't manage outside greater Memphis. If you need management in Nashville, Jackson, or other Tennessee markets, Evernest or HomeRiver may be a better fit given their multi-market presence.
Last step

20 minutes. Your numbers.
An honest answer.

We'll walk through your property, your goals, and what total management cost looks like with us. If your situation is better served by another firm on this page, we'll tell you that, by name, and you'll have spent 20 minutes well.

See my switch savings → Talk to a Memphis operator: (901) 244-2911 Send us your property details →