Hi, I am a landlord in Salt lake city. I have a couple of SFH to rent for a few years. I hire a PM company to manage. including basically everything. I found my tenant normally only rents for 1 year, they seldom renew the lease. I wonder if this indicate poor PM practice , then people does not like to stay longer? thank you for your information .
I think a lot of PM companies almost encourage people to leave after a year. They're probably charging you a half month's rent or full month's rent to find a new tenant. Maybe offer the PM company a 1/4 of a month's rent for lease renewal. They still make money and it's a lot less work for them.
thanks for you all for your reply. i will talk with my PM and to see what they think. My PM company does not charge the fee for finding new tenant, they charge commission fee monthly.