Is it typical for a managing agent to charge 1 weeks rent for the existing tenants to sign a new 12 month lease? I know to find new tenants that this is the case but wasn't sure of the cost to get the existing tenants to resign.
Yes this is fairly typical, the agent provides a service (review of rents, lease negotiation, lease preparation etc). Alternatively, the agent could just let the property carry on under the holdover provisions but the tenant could give notice at any stage leaving you open to vacancies etc. Which would you prefer?
Hi Shane
One of my agents charges half a week's rent to prepare a renewed lease on my property and of course no advertising fees that you may be charged when first letting or seeking new tenants
cheers
Sonya
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