lease extension fee?

Asked by Cathy, Florida Fri Oct 12, 2012

Is it commom practise that property manager to charge a 5% of lease extension fee if tenant would like to stay another year?

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Bob Brubaker, Agent, Lake Worth, FL
Fri Oct 12, 2012
Cathy, Some leases call for compensation to the leasing agent at the
renewal of an existing lease. More Common in Commercial and "High End"
Condo lease agreements. Your current lease will have the terms of renewal
and who is responsible for any commissions involved.
As "new " fee outside of your lease agreement this would be unusual. Contact the
Manager for an explaination . I f it can't be shown how this applies to you
consult a Real Estate Attorney,
0 votes
Danielle Sha…, Agent, Cape Coral, FL
Fri Oct 12, 2012
It's not out of the realm of possibility. Every lease and tenant situation is different.
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Fri Oct 12, 2012
There's no set rule, things vary in different locales, but it's certainly not uncommon. Typically in my experience this would be charged to the owner/landlord.
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