View Full Version : Lease renewal fee applicable even for a new lease?
engcanus
Jan 5, 2011, 04:15 PM
I am a landlord and I don't like the current lease which is about to expire. I want to write a new lease that will be better for the tenant and me (tennant is in agreement). However, the existing agreement states that I will need to pay one month rent as commission to the Real Estate company if the lease is renewed. Is writing a new lease or staying on month to month considered as renewing the lease?
Fr_Chuck
Jan 5, 2011, 06:19 PM
What is the service that the reality company is going to provide ? Is the home for sale ? And having a lease makes it harder to sell ? Are they acting as the property management company
ScottGem
Jan 5, 2011, 06:22 PM
And you agreed to that? That means that you lose 1 months rent out of every year just for a renewal? Is that in additions to other fees? I would suggest you cancel the contract with that real Estate Company first.
engcanus
Jan 7, 2011, 08:55 AM
I didn't fully understanding it. Real estate agent said that the only fee was one month's rent. Later we saw in the lease that the agent included 1 month's rent for every renewal. I want ro know what constitutes a new policy rather than a renewal
engcanus
Jan 7, 2011, 08:56 AM
They found the tenant for me. They play no further part.
engcanus
Jan 7, 2011, 08:58 AM
They found the tenant for me and wrote the original lease. They play no further part
ScottGem
Jan 7, 2011, 04:05 PM
Please don't use the Comments feature for followups. Just use the Answer options. I would suggest consulting an attorney about how enforceable this clause is.
engcanus
Jan 9, 2011, 10:38 AM
Is it possible to have a lease that is not considered to be a Renewal, but a New Lease between the same landlord and the same tenant for the same property?
Fr_Chuck
Jan 9, 2011, 11:47 AM
Any new lease between you and the same people on the same properly will be renewing a lease.
I guess you write a new one, don't pay the real estate company and see if they come after you for the money.
Eitehr that or find a new renter
engcanus
Jan 9, 2011, 05:47 PM
Is going to a month by month equivalent to a renewal?