Property Manager Lease Renewal Fees

[Erin Kilrain]

Wondering what the going rate is for Property Management (PM) lease renewal fees (same tenant, just renewing lease for another 12 months) I’m in Philadelphia and have seen anywhere from $0 renewal fee to a flat $200 per renewal to the entire first month’s rent again! I expected to pay the first month rent to get a new tenant but when it’s just admin work of sending the existing tenant basically the same lease and getting them to sign it, I can’t justify anything more than a nominal amount, especially when I’m paying them 8-10% each month to manage the property.