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In this video, Cameron from Emerson Property Management shares insights on lease renewals. He discusses various methods for renewing leases, including verbal agreements, one-page addenda, or entirely new leases. The approach to renewals varies among different property managers. He raises a key question regarding whether landlords are increasing rent during renewals or choosing to keep existing tenants without raises to minimize vacancy. Cameron emphasizes balancing tenant retention with maximizing rental income, especially in markets where leasing can be challenging. The video reflects on the importance of strategizing lease renewals for effective property management.
