Commission for renewal of residential lease

Asked by Deborah Ross, Morganville, NJ Mon Sep 3, 2012

In NJ, is a commission usually paid to the original brokers if the same tenant renews for a new lease term? Is it the same amount as the original commission? I know commissions are nnegotiable, but how do you usually handle this question, as agents?

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5
Roshan Quigl…, Agent, Manalapan, NJ
Mon Sep 3, 2012
Normally they are written in at the time you take the listing if you are representing the landlord - or negotiated in if you are representing the tenant when you write the lease. Depending on my relationship with the landlord will determine if I write in a renewal commission with the same tenant - this is a case by case - as you can see below cannot be negotiated after lease has been signed and accepted.
0 votes
Mary Petti, Agent, Edison, NJ
Mon Sep 3, 2012
In any lease listing I take, I usually absolve the landlord of the lease renewal commission obligation.

Even though the commission is negotiable, it's negotiatedat the time the listing is taken, then written into the original listing agreement at the time you sign it, so it's not negotiable AFTER the fact.
0 votes
Diane Vanvli…, , New Jersey
Mon Sep 3, 2012
The norm is in the original first years contract indicating if any continuance of the lease the agents should be given a commission as indicated..

Diane
0 votes
Deborah Madey, Agent, Brick, NJ
Mon Sep 3, 2012
Renewal commissions are common. All contract terms are negotiable.
0 votes
Christopher…, Agent, Methuen, MA
Mon Sep 3, 2012
I write this in to the terms of my rental listing agreements or buyer's agreements. I'm not sure if it is automatic if it isn't in the agreement.
0 votes
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