For the record, I respectfully disagree with Marion from Chicago. In many cases the property manager is also the leasing agent, and the terms for leasing are spelled out within the property management-leasing agreement.
In other cases, as Mike from Florida suggested, there are lease agreements written that do indeed have renewal clauses in them.
However, the underlying theme here is that all lease fees are negotiable and there is not a "customary commission", as expressed by several of us in our answers.
Onward and Upward....
Feb 19, 2013