Prospective Owner FAQ

Prospective Owner FAQ

The questions every owner asks before working with us – answered honestly.

01

About Lux

What sets Lux apart from other property managers?

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.

What types of rental properties do you manage?

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.

Why choose Lux Management Group?

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.

What are the benefits of a long-term lease?

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

What if my home is in an HOA?

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.

Do I need landlord insurance?

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.

Can you manage multiple properties in my portfolio?

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.

What makes Lux different from other property managers?

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.

What are the requirements for rental licensing in my city?

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.

What does a property manager do?

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.

What are my responsibilities as a property owner working with Lux?

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.

02

Pricing & Programs

What fees does Lux charge?

Flat percentage of collected rent each month – no markup on maintenance, no fee on vacant months, no surprise add-ons. Specific percentage is shared on your custom proposal and varies slightly by program and market.

What services are included in your management offering?

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.

Can I use Lux just for tenant placement?

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.

Do you charge any upfront fees?

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.

What do you charge per month?

A flat percentage of the rent we collect. Disclosed in your proposal. Lower than the industry-standard 8 to 12 percent in most cases. No fees for vacant months, no markup on maintenance.

What is your cancellation policy?

Month-to-month after the initial term. Cancel with written notice per your agreement. We earn renewal each month – no multi-year lock-ins.

How is the rental price for my property determined?

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.

How do you ensure vendor pricing is fair?

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.

How many inspections are included each year?

One annual property condition inspection is included in your management service. You receive a written report with photos.

What is included in the annual property condition inspection?

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.

Are property managers worth the cost?

For most landlords, yes. Our flat-fee pricing typically beats the 8 to 12 percent industry average, and we take over the tasks that cost owners the most time – maintenance, tenant communication, compliance paperwork. Maintenance alone is the top daily challenge for 41 percent of landlords.

Do I have to sign a long-term contract?

No. Standard agreement runs month-to-month after the initial term. Cancel with written notice.

Do you mark up maintenance?

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

What guarantees does Lux offer?

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).

03

Onboarding

How do I begin working with Lux Management Group?

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.

What information do I need to provide?

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.

Do I need to have a current tenant to get started?

No. Most owners come to us with vacant homes. We handle pricing, marketing, screening, and lease finalization.

How long does onboarding take?

Typical timeline from signed management agreement to tenant move-in is 2 to 4 weeks. Listed in 1 to 3 business days if rent-ready.

Do I need to do anything to prepare my home for rent?

Professional clean, repairs completed, lawn or landscaping tidied, and any HOA-required items addressed.

Can I rent my home while it is still occupied?

Yes. We coordinate showings around your or your tenant’s schedule and minimize disruption.

What do I need to provide for property access?

Working keys for all doors, garage openers, mailbox keys, gate or pool access cards if applicable.

04

Marketing & Leasing

How quickly can you lease my property?

Our average tenant placement time is 17 days. Listings go live on top rental sites within 24 hours of a signed management agreement.

What is a Rental Price Analysis?

A free data-driven report that evaluates your home using local comps, square footage, features, and neighborhood trends, then a property tour to factor in condition.

Where will my property be advertised?

Top rental sites – Zillow, Trulia, HotPads, Realtor.com, and others. RentFeeder syndication ensures your listing posts fast.

How fast will my property rent?

Average is 17 days. The biggest delay drivers are pricing too high or skipping rent-ready repairs.

How do you set the right rent price?

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

How long does it take to find a tenant?

Listing goes live within 24 hours of signed agreement. Average placement is around 17 days.

Where and how will my property be advertised?

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.

What happens if my home does not rent right away?

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.

05

Tenants & Lease

How do you handle tenant screening?

Credit, income (3x rent minimum), rental history (2 most recent landlords), criminal background, eviction history, employment verification – applied evenly under federal Fair Housing rules.

Can I review and approve tenants?

Yes. We present every qualified applicant with a screening summary. Final selection is yours.

What is your Tenant Match & Warranty?

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 up to 18 months.

What if my home does not rent right away?

Your Rent Estate Advisor reviews showing feedback, application volume, and listing performance. We may recommend price adjustments or photo updates.

Can I set specific requirements for my tenant?

Yes, within Fair Housing limits. No-smoking and no-pets are typically fine.

Can I be involved in the lease terms?

Yes. We use an attorney-reviewed standard lease but accept reasonable custom clauses.

Do you use your own lease agreements?

Yes. Attorney-reviewed standard lease aligned with each state’s landlord-tenant act.

How long are your standard lease terms?

12 months is standard. Longer or shorter is negotiable.

Do you handle Section 8 or HAP inspections?

Yes. We coordinate housing-authority inspections directly.

What happens if my tenant stops paying rent?

We post statutory late notices, pursue collection per the lease and applicable law, and coordinate eviction with our attorney network if needed.

How do I know what is happening with my property?

Owner Portal – 24/7 access to rent payments, maintenance requests, financial reports, and lease documents.

Who makes the final approval decision?

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

How do you handle tenant disputes?

Tenants report through the Resident Portal or directly. We mediate per the lease and applicable law.

How do you handle security deposits?

Collected at lease signing and held in a dedicated escrow or trust account. We document at move-in and compare at move-out. Refunds returned per state-required timelines.

What is your tenant screening process?

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.

What is your process for handling tenant disputes or issues?

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.

06

Maintenance

What is an NTE (Not-to-Exceed) amount?

Preset spending guideline for routine repairs, typically $400. Above NTE, we pause and send you an estimate before authorizing the work.

How are vendors selected and vetted?

Insured, licensed, and quality-vetted. Many have worked with us for years.

Can I use my own vendor for maintenance?

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

Who is responsible for maintenance?

Structure, systems (HVAC, plumbing, electrical), owner-supplied appliances, and habitability are typically owner responsibility.

Do you conduct post-repair quality checks?

Yes. Before-and-after photos required from every vendor. Internal review before close-out.

Who handles maintenance calls?

We do, 24/7. Tenants submit non-emergency requests through the resident portal; emergencies go to our 24-hour line.

What is the owner’s repair limit?

Standard authorization is up to $500 without pre-approval. Above $500, we send vendor quotes for your approval.

What types of maintenance are considered the homeowner’s responsibility?

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

I own multiple properties. Can Lux help streamline maintenance?

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.

07

Communication & Compliance

Do I need to be local to use your services?

No. Most of our owners live out of market. The Owner Portal, ACH disbursement, and electronic communication mean you can manage from anywhere.

When do I get paid each month?

Rent due on the 1st. Owner disbursements run between the 10th and 15th. Direct deposit with itemized statement.

How do I track my property financially?

Owner Portal – 24/7 access to monthly statements, year-end 1099, lease documents, inspection reports, and maintenance history.

How often will I receive updates about my property?

Monthly owner statement. Immediate notification for any maintenance above your NTE. 60 to 90 days advance notice before lease expiration.

Who will be my primary point of contact?

A dedicated Property Manager who knows your property, tenant, and preferences.

How do you ensure compliance with laws?

Federal: Fair Housing Act, ADA, FCRA, SCRA. State: each state’s landlord-tenant act. Local: city rental registration and ordinances. Lease reviewed by counsel annually.

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