I have a Renew/Vacate form that has the tenant circle one of 2-3 options.Option A Renew at M2M at 15% short term rental rate Option B Renew lease for one year, with either same rate or modest increase (if increasing base rate, option A is based on the new long term rental rate).Option C Vacate premises within 30 days.Notice sent out 60 days before hand, tenant required to return on or before 30 days or Option C is the understood agreement.

Australia sells non-renewable resources as its main export to China and Canada doesn't sell much to china instead more Chinese/Asia invest in property in Vancouver, also in LNG companies and resource companies in BC etc.

We most likely wont renew (even though my wife wants too).

We have come to view it more in terms of what would we do if a mortgage loan was not renewed or prices dropped enough that we had to bring money to the table to get a loan renewed.

I took the agent advice, didn't renew the lease and put money in some repairs.

I have sold it since I had a stroke and my wife tell me about the two year renewal.  

My wife got the renewal notice and she kept it from me because I still could not walk and she did not know what I could do.

Boots on the ground and sound management is critical along with managing the paper equity- I see so many self managing owners not maximizing rents and missing the boat on keeping up with steadily increasing rents by carefully managing their renewals!

Screening tenants, renewing leases, answering phone calls, evicting clients ect is all something that I wouldn't want to do except  when first starting out with those original few doors to save money. 

Mine is for 10 years, which they will renew afterward.