Paying comission to broker if tenant renew contract

Profile picture for Josefi
I have a house in Miami and I don't want to pay renewal comission to the realtor if my tenant wants to renew after 1 year. What should I do?
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February 26 2011 - Miami
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Answers (4)

Profile picture for audramiami
Edyta is correct!  If you already signed, it's too late as you have given your word to pay the renewal, but if you are negotiating the listing agreement at this time, then commissions are always negotiable!

Good luck to you!
Audra
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March 01 2011
Profile picture for Phillybroker

I agree, read your contract and going forward look for these types of clauses and have them taken out. If it were a new tenant you wouldn't mind as much but with the same tenant there is not that much more paperwork needed except a new lease.

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March 01 2011
Profile picture for SE Florida broker
Darrell is right. This type of provision is usually icorporated into listing agreement. Sometimes the tenant's agent may also send an offer with a clause that upon lease renewal a commission is earned. The best solution is to ask for this clause to be removed prior to signing it. If you have already signed, you are obliged to pay it. 
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February 27 2011
Profile picture for Darrell Self
That would be governed by your listing agreement and if there is a property management agreement with the agent. If the agreement says that you are to pay when the same tenant renews then you would be bound to do so. You should have a real estate attorney review the documents if you are not sure.
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1Yes

February 27 2011
 

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