An Overview of Florida Rental Terms and Conditions

When purchasing an investment property or renting an apartment yourself, it is helpful to be aware of some common terms and conditions. Both landlords and tenants, you hold certain obligations. This blog includes an overview of Florida rental terms and conditions.

Types of Tenancy

Tenancy may be at-will or based on a lease. There are pros and cons to each, but the major difference involves the time frames. Leases detail definite lengths of time whereas tenancy-at-will is more indefinite. Prior to offering a specific type of tenancy, property owners normally assess the affect of the time of year (i.e. the school year), the cost of replacing tenants, and other situations.

Responsibilities of Each Party

Both landlords and tenants maintain certain responsibilities. For example, landlords must furnish minimal standards of safety and cleanliness (as defined by law). Tenants must submit rentals payments and avoid causing unreasonable damages. Other terms and conditions can be written in the rental terms, although some terms may either be required by law or prohibited. Ultimately, it is essential for both parties to know their rights and to understand all conditions in an agreement before acceptance. It is not uncommon for some provisions to be negotiated to reflect the needs of both parties.

Types of Deposits

One of the basic items in any rental agreement involves deposits. A security deposit may be required to cover any damages that may be caused by a tenant. Last months rent can also be required to stop tenants from using security deposits as rent for the last month or to facilitate 30 days notice. Receipts should be written for all deposits for accurate record keeping. Florida laws may specify maximum amounts, where deposits are placed (i.e. into an escrow account earning interest), and when deposits must be returned to tenants.