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In this video, Cameron from Emerson Property Management shares insights on lease renewals based on his experience managing a portfolio for two years. He discusses various renewal methods, including verbal agreements, one-page addendums, and signing new leases, highlighting that approaches can vary widely among property managers. Cameron raises a key question about whether property managers should increase rent for renewals or prioritize tenant retention to avoid vacancy. He emphasizes the importance of finding a balance between maintaining consistent rental income and minimizing turnover, especially if the property has historically been difficult to lease.
