Lease renewal fee charged by property manager.

[Brant Richardson]

Management fees, new tenant fees, service/repair fees... they all make sense to me. But a fee to renew the lease for a tenant wanting to stay another year does not. To me, if the tenant wants to stay, that just means the property manager did a good job selecting the tenant and deserved to receive the new tenant fee I already paid.

I know I need to get on the phone and start calling other PM's in the area to get an idea if this is typical of my market but I thought I would ask here on BP. Is a renewal fee typical? If so, what is the fee? My guy is asking 25% of a months rent.