Should I Pay Realtor for Lease Renewal?

Realtor lease renewal payments is a topic that comes up often with landlords, and is the question this week for Hank Rossi, Landlord Hank

Realtor lease renewal payments is a topic that comes up often with landlords, and is the question this week for Ask Landlord Hank. Remember Hank is not an attorney and he is not offering legal advice. If you have a question for him please fill out the form below.

Dear Landlord Hank,

At lease-renewal time, I call on my realtor to ask what rent would be appropriate for the new lease since she knows my apartments well. Then I write letters to my tenants and have them complete a form as to whether they will renew or vacate. She then prepares the renewal rental agreements for my tenants and has them signed digitally.

I like to pay her for her time. I was wondering what would be appropriate – $50? $75? $100? I live in Massachusetts. Thank you.

– Ellie

Dear Landlady Ellie,

Lease renewals for good tenants is a satisfying time for me.

You know your tenants are happy in a good well-maintained home or they’d be moving. You’ve done your job well.

If your Realtor, whom you trust, is working for you, you should pay her.

I don’t know what is customary in Massachusetts, but here in Florida we charge $60 for renewal work and about $35 of that goes to the attorney to write the renewal lease.

Sincerely,

Hank Rossi

Each week I answer questions from landlords and property managers across the country in my “Dear Landlord Hank” blog in the digital magazine Rental Housing Journal.   

Realtor lease renewal payments is a topic that comes up often with landlords, and is the question this week for Hank Rossi, Landlord Hank
Landlord Hank says about lease renewal payments, “If your Realtor, whom you trust, is working for you, you should pay her.

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