Owner FAQ

Find quick answers to common questions about owner services, processes, and policies.

  • 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

    Because we’re vertically integrated, we handle most maintenance and turnover work with our own team. This gives you quicker repairs, consistent quality, and cost savings compared to third-party vendors.

  • What are your management fees?

    We charge 8% of collected rent for long term managment and 10% of gross bookings for short term managementshort-termlong-term

  • Do you mark up maintenance or vendor invoices?

    Yes, we apply a small markup to maintenance and vendor invoices. This covers the coordination, scheduling, follow-up, quality control, and warranty support that goes into managing each job.

  • 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?

    For long-term leases, we collect a one-time pet fee and pet rent per-month per pet.

  • Can you help me turn a normal rental into an Airbnb?

    Yes. One of our owners is a general contractor. We have a full construction team. We can also introduce design resources for interior design and furniture selections.

  • What costs am I responsible to pay?

    Clients are expected to pay real estate taxes and property insurance. For short term rentals, you must provide wifi, pest control, lawn care which our team is happy to arrange

  • What internet service provider should I use?

    Cellular (5G) or Starlink WiFi is best. WiFi equipment fails. If you have landline internet you could be down for days. To minimize downtime we suggest no wired connections.

  • How do you prevent parties at short-term rentals?

    There's no party prevention technique that is 100% effective. Airbnb has implemented an improved screening process to help avoid parties. We also interview guests for reason of travel and ask them to agree to our house rules. Additionally, we install noise and recreational smoke monitors at all short term rental properties we manage which are monitored by our team to identify issues early.

  • Do you syndicate short term rentals to other platforms?

    We do not. 95% of all bookings in memphis are placed directly onto the airbnb platform. We do not chase the other 5%.

  • What is the average occupancy for short term rentals?

    We are currently operating at a 78.2% monthly occupancy.

  • Will you co-host our short term rental property?

    We do not co-host. We want to re-brand your property to our strategy to ensure we maximize occupancy.

  • Do you recommend security cameras at short-term rentals?

    Yes. They help us validate information in order to make aircover claims and validate occupancy numbers. We recommend owners install 1 wired Ring doorbell camera and two Ring floodlight cams. Please note you cannot place cameras inside of units.

  • What kind of amenities should I provide at my short-term rental?

    We recommend smart tvs and board games at a minimum. A fire pit is the next suggestion. If you have a budget, you can add a hot tub.

  • How do you price short term rentals?

    We use a combination of dynamic pricing and human intervention. Dynamic pricing often lags so we get more involved.

  • How do you handle cleaning and laundry at short-term rentals?

    We have a large full time cleaning team that will turn over properties in less than an hour to keep them ready for the next guest. We also have an owned laundry facility so we don't have to waste time washing laundry at your place and putting excess strain on your appliances. 

  • Can I use my short term rental personally?

    Of course, just simply shoot us a note so we can block the calendar, and send us a text when you check out so we can get it cleaned. 

  • How do you handle maintenance?

    We have a large full time maintenance team and can handle the vast majority of maintenance issues that come up in a matter of hours to minimize guest disruption. On the rare occasion that we have to subcontract a repair, we maintain a deep list of qualified vendors to assist. full-time

  • Do you answer guest/resident questions timely? Our team is logged in 24 hours per day and handle all questions quickly.

    Our team is logged in 24 hours per day and handle all guest questions quickly.handles