Prospective Owner FAQ

We are a long-term wealth partner, not a transactional manager. We combine local market expertise with national systems – proprietary marketing tech, vetted vendor networks, and a structured screening process – so your property is run with the consistency of an enterprise and the care of a small team.

We manage long-term residential rentals – single-family homes, townhomes, condos, and small multi-family up to 16 units. Whether it is your former primary, an inherited property, or a portfolio you are scaling, we can take it on.

We help owners build long-term rental wealth instead of taking a one-time gain. Selling brings a quick payout; holding and renting can generate steady cash flow plus appreciation. Our entire service exists to maximize that long-term return – marketing, placement, management, and maintenance.

Lower turnover, lower vacancy risk, more consistent cash flow, and better-quality tenants. Long leases also unlock our extended Tenant Warranty for added protection.

We work with HOA properties all the time. During onboarding we collect the HOA bylaws and CC&Rs so the lease and tenant rules stay aligned with your association – pets, parking, noise, rental caps, all of it.

Yes. A standard homeowner policy does not cover a tenant-occupied property. A landlord (rental dwelling) policy covers the structure, gives you liability protection, and pays loss-of-rent if the home becomes uninhabitable. Most management agreements also require it.

Yes – many of our owners have multi-property portfolios. You get one Owner Portal, one statement system, consolidated maintenance tracking, and per-property performance summaries.

Local boots-on-the-ground combined with national infrastructure – RentFeeder marketing platform, Rent Estate Advisors, centralized client service, vetted national vendor network. Personal attention with enterprise-grade systems behind it.

Varies by city. Some require an active rental license and inspections; others have no requirement. We confirm during onboarding whether your property is subject to local licensing and walk you through the requirements.

Daily operations of your rental – pricing, marketing, screening, lease drafting, rent collection, maintenance coordination, lease enforcement, owner accounting, and eviction coordination if needed. We do all of it on time and in compliance with local, state, and federal law.

Stay responsive on approvals above your authorization threshold (typically 24 to 48 hours), maintain landlord insurance with Lux named as additional insured, keep HOA documents current if applicable, pay non-reimbursable owner bills (taxes, mortgage, HOA dues), and tell us right away if you sell, refinance, or change banks. We handle everything else.

Lux charges 10% of the rent we collect each month for long-term leases (12 months or longer), a leasing fee of 50% of one month’s rent when a new lease is signed, and a $250 fee when a tenant renews for 12 months. Leases under 12 months are managed on our short-term program at 20% of rent collected, with no separate leasing fee. There is no management fee while the home is vacant and no markup on maintenance. Full terms are in your management agreement.

Rent collection, maintenance coordination, lease enforcement, legal compliance and documentation, eviction coordination, financial reporting, 24/7 resident support, property protection plans, and optional tenant warranty coverage.

Yes – we offer a placement-only service. We market the home, run showings, screen applicants, and prepare the lease, then hand you the reins once it is signed.

No. There are no fees just to get started. Placement, lease renewal, and other service fees are clearly disclosed in your agreement and only charged when those services are actually performed. The leasing fee (50% of one month’s rent) is charged only when a lease is signed, and the $250 renewal fee only when a renewal is signed.

10% of the rent collected for leases of 12 months or longer, or 20% on the short-term program for leases under 12 months. No management fee for vacant months.

Your agreement renews automatically in two-year terms, and you can cancel with 60 days’ written notice. If a tenant we placed is still under lease, or a new tenant is in the middle of being placed, an early cancellation fee applies as described in your agreement. Cancelling during a vacancy with no tenant in process carries no cancellation fee.

Combination of data and experience. We pull a personalized Rental Price Analysis using millions of data points (local comps, square footage, features, neighborhood trends), then your Rent Estate Advisor walks the property to fine-tune for condition and amenities.

Our vendors agree to market-standard pricing, and every invoice is reviewed before we apply it to your account. Anything that looks off, we flag and call you before paying.

One full property inspection per year is included. It is usually done at move-in or move-out if the tenant changes that year, otherwise as a scheduled annual inspection. Extra inspections you request are $75 each. Between inspections we do periodic exterior drive-bys, and our vendors report on condition during service visits.

Interior and exterior walkthrough – smoke detectors, visible plumbing and electrical issues, signs of unauthorized pets or occupants, lease violations, general cleanliness. You get a report with photos and notes.

For many owners, yes. A manager takes over leasing, screening, rent collection, maintenance coordination, and compliance paperwork, which are the tasks that take owners the most time. With Lux you know the cost up front: 10% management, 50% lease-up, $250 renewals, and 20% for short-term leases. Lux is built by investors, for investors, so we price and run every home the way we would want ours run.

Your agreement renews in two-year terms, but you can cancel with 60 days’ written notice. See the cancellation answer above for when a fee applies.

No. Every invoice is passed through at cost. You get the actual vendor receipt with your monthly statement.

Three: tenant placement (if a tenant we placed breaks the lease in the first 6 months, we re-lease for free), responsive communication (we respond to owner inquiries within one business day or waive that month’s management fee), and pet damage coverage (for approved pets, we cover damage beyond the deposit up to the coverage limit in your agreement).

Reach out via the website or call. A Rent Estate Advisor walks you through pricing, expectations, and onboarding. From there, sign the management agreement and we begin marketing or transitioning the property.

Property address, current lease terms (if a tenant is in place), HOA info if applicable, copy of your insurance, and access for our walk-through. We guide you step by step.

No. Most owners come to us with vacant homes. We handle pricing, marketing, screening, and lease finalization. If you do have a tenant in place, we can take over and ensure a clean transition.

Typical timeline from signed management agreement to tenant move-in is 2 to 4 weeks, depending on rent-ready status, season, and pre-rental repairs. Listed in 1 to 3 business days if rent-ready.

Professional clean, repairs completed, lawn or landscaping tidied, and any HOA-required items addressed. We provide a rent-ready checklist after the walk-through and can coordinate vendors for any of it.

Yes. We coordinate showings around your or your tenant’s schedule and minimize disruption. If there is overlap between move-out and move-in, we walk you through options to minimize vacancy.

Working keys for all doors, garage openers, mailbox keys, gate or pool access cards if applicable. Helpful to have these ready upfront so we can coordinate showings and inspections without delays.

Time on market depends mostly on price and condition. Rent-ready homes priced to the market lease fastest, and we review showing feedback weekly to adjust if needed. Listings go live on top rental sites within 24 hours of a signed management agreement. Pricing and condition drive everything – homes priced 5 to 10 percent above market and not rent-ready take longer.

A free data-driven report that evaluates your home using local comps, square footage, features, and neighborhood trends. After the data, your Rent Estate Advisor walks the property and adjusts for condition. End result: a rent range that balances time-on-market with rent maximization.

Top rental sites – Zillow, Trulia, HotPads, Realtor.com, and others. Our RentFeeder syndication makes sure your listing posts fast and stays current. Professional photos, smart pricing, and a strong description drive the inquiries.

Time on market depends mostly on price and condition. Rent-ready homes priced to the market lease fastest, and we review showing feedback weekly to adjust if needed. The biggest delay drivers are pricing too high or skipping rent-ready repairs.

Free Rental Price Analysis (data-driven) plus a property tour to factor in condition. We then recommend a rent range that maximizes income without lengthening time-on-market.

Listing goes live within 24 hours of signed agreement. Time on market depends mostly on price and condition. Rent-ready homes priced to the market lease fastest, and we review showing feedback weekly to adjust if needed.

Every adult applicant goes through a credit check, income verification (typically 3x rent minimum), rental history from the two most recent landlords, criminal background, eviction history, and employment verification. We apply objective criteria evenly to comply with Fair Housing law.

Yes. We present every qualified applicant with a screening summary. Final selection is yours – we never sign a lease on your behalf without your OK.

Credit, income, rental history, criminal background, eviction history, employment verification – applied evenly under federal Fair Housing rules. Pets are screened separately if the property allows them.

If a tenant we place defaults in the first 6 months, we re-rent the property for free. Extended leasing or full management can extend this warranty up to 18 months.

Your Rent Estate Advisor reviews showing feedback, application volume, and listing performance. We may recommend price adjustments, photo updates, or addressing renter concerns. We keep you informed throughout.

Yes, within Fair Housing limits. No-smoking and no-pets are typically fine. Some restrictions are not allowed under FHA and we will tell you clearly before listing.

Yes. We use an attorney-reviewed standard lease but accept reasonable custom clauses. Your Rent Estate Advisor walks you through it and incorporates your input.

Yes. Attorney-reviewed standard lease aligned with each state’s landlord-tenant act. You can review or request reasonable modifications during onboarding.

12 months is standard. Longer or shorter is negotiable based on your goals.

Yes. We coordinate housing-authority inspections directly. If the home fails, we send you the corrective list, coordinate repairs, and re-schedule. HAP payments may be delayed until the home passes.

We post statutory late notices, pursue collection per the lease and applicable law, and coordinate eviction with our attorney network if needed. Qualifying placements are protected by our Tenant Placement Warranty.

Owner Portal – 24/7 access to rent payments, maintenance requests, financial reports, and lease documents. No need to call for routine status.

You do. We never sign a lease on your behalf without your explicit approval.

Tenants report through the Resident Portal or directly. We review, communicate with all parties, and mediate per the lease and applicable law. Quick, professional resolution to keep tenancy stable.

Collected at lease signing and held in a dedicated escrow or trust account. We document the property at move-in (photos and inventory) and compare at move-out. Refunds returned within state-required timelines: 14 business days in Arizona, 15 to 60 days in Florida, 35 days in Alabama.

Your repair approval limit is $500 per item. Repairs at or below $500 are dispatched right away. Above $500, we send you the estimate before authorizing the work. You pay the actual vendor cost, not the limit.

Insured, licensed, and quality-vetted. Many have worked with us for years. We routinely review performance to confirm responsiveness and quality.

Yes. Tell us during onboarding or anytime. We verify insurance and licensing, then coordinate dispatch when needed.

Structure, systems (HVAC, plumbing, electrical), owner-supplied appliances, and habitability. We guide you on each repair as it comes up.

Yes. Before-and-after photos required from every vendor. Internal review before close-out. Resident follow-up when needed.

Yes. We can set NTE thresholds, adjust your communication preferences, and pre-approve common repair scenarios. Goal is to reduce delays without losing your visibility.

We do, 24/7. Tenants submit non-emergency requests through the resident portal; emergencies (flood, no heat or AC, gas, electrical hazard, lockout) go to our 24-hour line. We dispatch and keep you informed of anything over your repair-limit threshold.

We can approve repairs up to $500 per item without contacting you. Anything over $500 needs your approval, which you can give by text, email, phone, or in writing. Emergencies, recurring operating expenses, and tenant-caused move-out damage charged to the deposit are handled without separate approval. If we cannot reach you within 24 hours on a needed repair, we may proceed to protect the property.

No. Most of our owners live out of market – we manage homes for owners across the country. The Owner Portal, ACH disbursement, and electronic communication mean you can manage your investment from anywhere.

Rent is due from tenants on the 1st. Owner funds are disbursed by ACH on or before the last day of each month, with an itemized statement in the Owner Portal.

Owner Portal – 24/7 access to monthly statements, year-end 1099 / tax packet, lease documents, inspection reports, and maintenance history. Year-end CPA-ready summary included.

Monthly owner statement. Immediate notification for any maintenance above your NTE or anything affecting occupancy. 60 to 90 days advance notice before lease expiration. Real-time Owner Portal access. Adjust the cadence with your Property Manager – more or less, your call.

A dedicated Property Manager who knows your property, tenant, and preferences. They coordinate approvals and answer questions. After-hours emergencies and accounting questions loop in the right teammate so you always get a timely answer. Direct contact in your Owner Portal.

Federal: Fair Housing Act, ADA, Fair Credit Reporting Act, SCRA. State: each state’s landlord-tenant act (A.R.S. for AZ, F.S. ch. 83 for FL, AURLTA for AL). Local: city rental registration, occupancy, and noise ordinances. Lease reviewed by counsel annually. Updates pushed through our process when statutes change.