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Updated over 9 years ago on . Most recent reply
Property Management: Lease Renewal Fee on MTM "renewal"
Tenant is going month-to-month at a higher rent than the (increased) 12-month lease rate. It's about a 20% increase from the current base rent, but tenant frequently pays late and it's not much more when that is considered.
Prop Mgt co is charging me the same "lease renewal" fee that they'd impose if there was an actual lease ($95). Is the imposition of this fee a reasonable bone to pick with them?
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Does your agreement specify what a lease is? IMO, mtm tenancy is a "rental agreement" and a lease is a 6+month tenancy. But we specify that in our agreements. I wouldn't pay a lease renewal fee for a mtm unless the agency also agreed to refund the fee if the tenant moved out within 6 months.