Most are 12 months with a termination fee

Right, the list of things to maintain and/or replace is never ending; rugs, AC filters, light bulbs, water filter in fridge, detector batteries, pest control, coffee maker, stove eyes and pans, silverware, bowls, glasses, sofa cushions, pillows, blinds, brooms, mops, vacuum, brushes, shower curtains, bath mats, beach towels. 

They had 4 years left and decided to give me only 1 year of rent on the remaining term in their shakedown negotiating.

INDEMNIFICATION AND HOLD HARMLESSExcept for the willful misconduct of Agent, Owner shall indemnify, defend, and hold Agent harmless from all loss, damage, cost,expense (including attorneys' fees), liability, claims, investigations and lawsuits by third parties for personal injury, death orproperty damage incurred or occurring in, on, or about the Premises that are connected with the management of the property,during the term of this Agreement or after its termination, including any liability for error of judgment, a mistake of fact of law, orfor anything which Agent may do or refrain from doing hereinafter.

Leasehold interests terminate automatically when rent isn't paid.

Lease Renewal Term.The renewal term of the Lease (the “Term”) will commence on the 1st day of (month), (year)(the “Commencement Date”) and will expire on the 30th day of (month), (year) (the “Expiration Date”), unless terminated or extended as provided in this Lease.2.

A good partnership structure (which you didn't set up and acknowledge) has a termination clause. 

But you also asked about terminating the whole relationship with your PM, right? 

Quote from @Paul McCoy: I would wait until they leave, or terminate their lease after this year and handle the renovations.

Tenant maintenance includes changing the HVAC system filters, batteries, trash cans, electric light bulbs, fuses, resetting circuit breakers, cleaning of appliances, as well as window air conditioning units, humidifiers, and de-humidifiers, or any other services not specifically listed as supplied in this Lease Agreement at Tenant’s expense.