I’m looking at a 3 unit industrial building with 2 tenants up for renewal within 2 years.

Every 5 years the loan is re-amortized for the last 15 years (renewed every 5 years - 20 total).

@Ward Hubbell If they aren’t on an annual lease give them proper notice of non-renewal.

(So I've been advised by somebody who is an authority on such things)Editorial:    Since laws on this changed in WA to not allow landlords to issue no-fault terminations I've now had two tenants willfully refuse to sign lease renewals  forcing me to decide between accepting their rent payments and letting them go MtM or refusing to accept the rent and risking a protracted battle to remove them.   

About a month ago we smelled smoke several times within a week and let her know we would not be renewing her m2m lease.

That being said, the property needs a lot of work and unfortunately I will be non-renewing at least 2 of the tenants to completely renovate their units.

For the lease renewal or future leases, add in a fine as Nathan suggested.

(Energy Efficiency, Water Conservation, Seismic Retrofit, Resiliency, & Renewable Energy)PACE is 100% Financing, Non-Recourse, Terms to 30 Yrs with Low Fixed Rates, Transferrable, Payments paid back via Property Tax bill, Has the ability for payments to be passed on to tenants in a NNN situation, CLTV to 100%, Will Finance up to 30% of Stabilized Value.Examples of PACE Improvements: Cool Roofing, HVAC, Windows, Doors, Insulation, Chillers, Elevators, LED Lighting, Solar, EV Charging Stations, Daylighting...Hundreds of Improvements will qualify depending on what each state allows.Cathy

You will also need a good property manager, be sure you know all of the costs involved with that (how much they charge to place a tenant, renewal fees, monthly fees).

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.