Q: I own a rental proeprty in Naples, FL. The tenants have stated that they would like to renew the lease for another year. Am I still required to pay the agency one month?s rent as commission? There was no effort on their part.
?Anonymous, Naples, FL
A: I suspect if it was in the original contract between you and the agency that you would owe them a commission upon renewal. Do you still have a contract with them? It would depend on what was written previously about renewal. It it wasn?t mentioned than you wouldn?t. Good luck!
Rosanne Nitti is a Realtor? with RMN Investments & Realty Services in Laguna Beach, CA.
A: The answer to your question is in your agency agreement. Read it carefully and consult with legal counsel if you are still unsure.
Phil Lunnon is a Realtor? with Lunnon Realty in Lakewood, CO.
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