A rental agreement provides for a tenancy of a short period (often 30 days) that is automatically renewed at the end of the period unless the tenant or landlord ends it by giving written notice.

The "landlord fee" is a good idea and I will add that in the next time I renew the lease.

I have a mortgage with First Bank.It was a refi and they insisted on paying the insurances - home owner, windstorm, flood...wouldn't let us handle directly.For two years in a row, they are supposed to pay insurances, but didnt, we got letters from insurance companies saying policy will become inactive if I don't pay it is the second notice etc...Then the bank sent us letters saying they received letters from insurance companies that we haven't renew the policies...Hello, they are supposed to escrow that and pay for it.Called them to complain, then got the "ohhhh I see..."

So there isnt anything that forces a property to renew a lease as they have a good legal reason?

What are options to renew, foreclose or deed in lieu of foreclosure, etc?

Single member LLC advantage - does not require any yearly tax filings but do have to file yearly state name registration renewals to renew the LLC name and keep it in good status.  

It took about 6 weeks to get rented, but my property manager did a great job, found great tenants and they have just renewed for another year lease.This was originally purchased as my primary residence, so my invested capital isn't high.

So for instance, the Pentagon Federal Credit Union was set up for employees of the Pentagon, but if you join the "Voices for Troops" organization (it'll cost you $15 the first year and you don't have to renew after that) they'll let you join PFCU and get their awesome Pentagon Promise Visa card: www.penfed.org/Penfed-Promise/You do have to be careful when planning out your cash flow, though.  

I can't tell you how many times I've taken over properties from companies that failed to renew elevator licenses, file taxes, renew basic business licenses, and a host of other stuff that would make self-management look more and more appealing!

Needless to say we did not renew the warranty.