Do you charge tenants a lease renewal fee and if so how much?

[Scott Esmail]

I manage my own properties in Orlando Fl an own my own property management company. In the past I have not been charging a lease renewal fee when the past year lease expires. I have been just letting the leases go month to month with a rent increase if needed. I have noticed that others prop management co's are changing  a lease renewal fee making tenants sign up on another 1 year lease when the prior lease expires. If this is something you do what would you say is a fair  lease renewal fee to charge. I a have seen multifamily complex charge as much as $200. I rent single family home and the rent average is about $1100 per month.