Landlord and Tenant Relationship in Florida – Common Pitfalls III
July 6th, 2010 categories: General RE Info, Market Update, Rentals
Walk-Thru, Late Payments and Deposits
Walk-Thru:
Not documenting Property’s Conditions. Before the Tenant moves in, it is important to both parties to put in writing with as much detail as possible the conditions of the property. This document will be the only defense the Tenant will have if there is a claim of the deposit or the proof a Landlord will have that the damage was caused by the Tenant. I normally take pictures of the property and get them signed by both parties.
Late Payments:
Most Leases include a clause that determines a penalty in case the payment is not received on the due date or after a grace period which normally is 5 days. Not enforcing this clause can have two “side effects”; first the Tenant doesn’t take seriously the importance on on-time payments and after doing it repeatedly the landlord may have a hard time collecting it.
Be very firm and don’t get personal … the best way to keep a healthy relationship is by setting expectations upfront and making sure the Tenant comply with the terms of the contract.
Deposits:
Many Tenants try to convince Landlords to “live the deposit” and not pay the last month. Even though the relationship was great and the property seems to be in great shape it’s advisable to keep the deposit until the tenant vacates the property. If there is a problem the Landlord would have no money for repairs or to pay for them.
The Landlord and Tenant Act has very strict rules on how Security Deposits and Advanced Rents must be kept until due. The Landlord should notify Tenant in writing how the deposit will be kept. If Landlord will keep the deposit the tenant MUST be notified in writing. Please refer to the Landlord and Tenant Act for more details.
Business is Business and Landlord and Tenants relationships should be kept as a commercial transaction with no emotions attached.
[...] Landlord and Tenant Relationship in Florida – Common Pitfalls III | My Weston Florida Real Est… [...]
It was certainly interesting for me to read that post. Thank author for it. I like such themes and everything connected to them. I definitely want to read more soon.
Brandy Pingtown
portable jammer