Require a new lease?

[K S.]

My rental house in Seattle is once again up for either having the tenants renew for another year, or allowing them to transition to month-to-month. In the past, I've requested a new lease so I don't wonder each month if they might give notice & move.

However, the management company charges a 1/2-month new-lease fee even when existing tenants sign a new lease. Seems outrageous but I haven't found a better company (yet?).

What are the pros & cons?