All Topics / General Property / renewal of lease

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  • Profile photo of anamaxanamax
    Participant
    @anamax
    Join Date: 2004
    Post Count: 2
    September 1, 2004 - 8:29 am

    Hi all. my first post
    our ip lease has come up for renewal, our pm has done a new lease with existing tenants and charged us 1 weeks rent. Is this normal? Are others paying this on every renewal.
    Teena

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992
    September 1, 2004 - 2:12 pm

    Sounds expensive for a renewal only. Read the Managing Agency Agreement to ensure the agent is complying.
    cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
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    Profile photo of arungounderarungounder
    Participant
    @arungounder
    Join Date: 2004
    Post Count: 10
    September 1, 2004 - 7:53 pm

    HI Teena,
    That is what my PM said as well (I just bought a IP and is on the rental market for the past 2 days). If the tenents stay for more than a year and renew the lease then I am up for a weeks rent. Hope this helps.

    Profile photo of QLDERQLDER
    Member
    @qlder
    Join Date: 2003
    Post Count: 2
    September 2, 2004 - 1:32 am

    Hi Teena

    I would look around for another PM – this is highway robbery

    Andy

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