Residential Property Management/Lease Question


With reference to a Florida condo rental, as the landlord I have the following questions:
1. My tenants lease is about to expire in less than 2 months and I wanted to find out what are my options for renewal. Initially I used a realtor whom I paid a commission to last year. Currently Ido not want to go through the realtor again and have to pay another commission to have him renew the lease. What are my options and how can I renew the lease without having to pay the prior realtor a commission.
Also, what is the deadline before the landlord notifies tenant as to lease renewal.

Hi Sam -- first, you will have to look at your contract with the realtor.  There may be a clause in there that if you renew a 12 month lease with the current tenant, you will owe him some sort of fee.  If there is nothing in the contract, you are not obligated to involve him/her in the renewal.  Or course, you may not be obligated to renew the lease as most leases convert to a month to month agreement and just continue on.  Whether you want the actual agreement renewed or implied by just continuing, is also up to you.  Our leases have an auto increase clause that after the initial 12 months, the renewal is automatic unless the tenant or the landlord notify otherwise and there is an automatic 10% increase in rents.  Normally a 30 day notice is customary.  You would notify the tenant 30 days out that you are requiring a new lease signed, if that is the case, and what the lease amount will be.  Hope this helps answer your questions and please feel free to email again or ask another question if you need more detail.  Stefani

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Stefani Nachatilo


I can answer basic beginner questions like "How do I get started buying my 1st rental property" and "What to look for when taking an application on a tennant." "Here`s what capital I have to work with -- what are my options?"


I started purchasing rental properties in 1995 with my husband, part-time, while working a full time job. We started with very little seed money. One year we purchased 11 single family units. Recently we bought 5 properties in 2 months. We purchased our 1st small apartment building in 2004. I am now managing our units and doing property investing and management full time.

My Husband and I have written a book for the new real estate investor, "Weekend Warrior's Guide to Real Estate Investing", published by Tate Publishing. Can be purchased from or Have been published in Real Profits by Carlton Sheets and Discount Buyer's Association monthly magazine.

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