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Updated about 8 years ago,
Contract renewal fees for realtors in Florida
Hi all,
I have a rental property (Condo) in Miami, FL. I was extremely happy with the work done by my realtor listing the property and getting me good tenants quick at the price I was looking for back in 2013. The tenants have been very good and we are about to renew the rental agreement for the 3rd year. I have an ongoing issue with my realtor because they charge me 10% of the contract value to renew the contract with the same people, at the same price which I think is outrageous considering that there's very little additional work involved (copy paste of last year agreement). Last year it cough me off-guard but this year I told them that I wasn't planning to pay the fee and that I would go ahead and draft my own contract and get it signed by the tenant. I have the following questions:
1.- Have you have the same experience with properties in Florida. Are other good realtors out there that don't charge to renew a contract with the same tenant?
2.- Do I have to be a realtor to sign a rental agreement with a tenant?
3.- What do I need in order to renew the contract directly with the tenant? Do I need to get an attorney or can I use a Florida rental agreement format, fill it up and sign it?
4.- Do you have any generic format for rental agreements for Florida that I can use as initial starting point?
Appreciate your feedback and insight.
Rgds, Carlos