Residential Property Management/Query

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Question
Good day
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.

Answer
As to your first question, you should first check your listing agreement you had with the Realtor. Sometimes they are entitled to commissions on renewals for tenants they placed. If so, you might as well have them do the work. If not, then you can certainly contact the tenant directly and negotiate a renewal, usually via a lease amendment. Also, there is no preset deadline by which to talk to the tenant about renewing the tenancy (absent any lease provisions to the contrary). So, you can and should probably start now to work on that.

Residential Property Management

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Mike Fortunato

Expertise

Very familiar with all aspects of property management (tenant/landlord issues, lease administration, facilities maintenance, financials, etc). 25+ years in property management

Experience

I have been in real estate management for 25+ years, both residential and commercial properties. Currently own and operate a commercial and residential real estate management company in southern California.

Organizations
IREM; BOMA; MLS; National Association of Realtors; California Association of Realtors

Education/Credentials
CPM (Certified Property Manager) and RPA (Real Property Administrator)

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