Why Is A Lease Renewal Fee Charged?
A lease renewal fee is typically less than a leasing fee because it involves renewing your current tenant’s lease agreement after reviewing tenant payment history and other criteria, like reviewing inspections of the unit to make sure they are taking good care of the property.
Advantages of renewing a lease include:
Reducing cost
Saving time
Reducing vacancy risk
Staying with a familiar renter
It brings you a clear advantage since we will provide your tenants with a great experience so they keep renewing their lease agreements which in turn goes to save you from the costs of leasing fees, turnover repairs, and vacancies.