Owner questions, answered straight.
Fees, payouts, occupancy, and exactly how we run a property. Real answers from a vertically integrated team that does the work in-house. Anything missing? Call (901) 244-2911.
What types of properties do you manage?
We manage single-family homes and multi-family properties, including both long-term rentals and short-term / overnight rentals, depending on your investment strategy.
What makes LPS different from other property managers?
We are vertically integrated, so we handle most maintenance and turnover work with our own team. That means quicker repairs, consistent quality, and cost savings compared to third-party vendors.
What are your management fees?
Long-term management is 8% of rent actually collected, plus a one-time tenant-placement fee of 50% of one month of rent when we lease the unit (most Memphis firms charge 75 to 100 percent) and a $195 lease renewal. Short-term (Airbnb) management is 10% of revenue, one of the lowest full-service rates in Memphis, where the standard is 15 to 25 percent. Cleaning is paid by the guest and handled by our own in-house team, so you never get a separate third-party cleaning bill. Every fee is disclosed up front and the annual inspection is free.
Do you mark up maintenance or vendor invoices?
No. Because we are vertically integrated, the large majority of maintenance and turnover is done by our own in-house team, so there is no third-party vendor markup. On the rare occasion we subcontract, we use a vetted vendor list.
When will I get paid?
Owner disbursements are sent in the middle of the month after the rental month ends. We wait until the month closes, reconcile all income and expenses, and then process payments.
Do you accept pets?
Yes. For long-term leases we collect a one-time pet fee plus pet rent per month, per pet.
Can you help me turn a long-term rental into a short-term rental?
Yes. One of our owners is a general contractor and we have a full construction team. We can also bring in design resources for interior design and furniture selection.
What costs am I responsible for?
Owners pay real estate taxes and property insurance. For short-term rentals you also provide wifi, pest control, utilities, and lawn care, which our team is happy to arrange on your behalf.
What is the average occupancy for short-term rentals?
Our Airbnb listings specifically run about 67.5% occupancy on a trailing-twelve-month basis, versus roughly 57% for the Memphis market. Across our full managed portfolio, long-term and short-term combined, occupancy averages about 70%.
Do you syndicate short-term rentals to other platforms?
We focus where the guests are. The large majority of our bookings come directly through Airbnb, so that is where we put our pricing and optimization effort.
Will you co-host our short-term rental?
No, we do not co-host. Properties are re-branded under our profiles to maximize occupancy.
How do you prevent parties at short-term rentals?
No technique is 100% effective. Airbnb screens guests, and we add our own layer: we interview guests for reason of travel, require agreement to house rules, and install noise and recreational-smoke monitors at every short-term property, monitored by our team so issues are caught early.
How do you price short-term rentals?
A combination of dynamic pricing and human intervention. Dynamic pricing often lags the market, so our team stays involved to adjust.
How do you handle cleaning and laundry?
We have a large full-time cleaning team that turns over properties in under an hour to keep them guest-ready. We also own a laundry facility, so we are not washing linens at your property and straining your appliances.
How do you handle maintenance?
A large full-time maintenance team handles the vast majority of issues in a matter of hours to minimize guest disruption. When we do need to subcontract, we keep a deep list of qualified vendors.
Do you recommend security cameras at short-term rentals?
Yes. They help us validate occupancy and support AirCover claims. We recommend one wired Ring doorbell camera and two Ring floodlight cams. Cameras may never be placed inside the unit.
What amenities should I provide?
At a minimum, smart TVs and board games. A fire pit is the next addition, and if budget allows, a hot tub.
What internet service should I use?
Cellular (5G) or Starlink is best. Wired internet equipment fails and can leave a home offline for days, so to minimize downtime we suggest avoiding wired connections.
Can I use my short-term rental personally?
Of course. Just send us a note so we can block the calendar, and text us when you check out so we can get it cleaned.
Do you answer guest and resident questions quickly?
Yes. Our team is logged in close to 24 hours a day and handles guest questions quickly.
Ready to see your numbers?
Send us an address and we will show what it should earn as a long-term or short-term rental, free.