Landlord Information for Renting Out Florida Condos
Following a few tips to rent out your Florida condo, as either a vacation home or to tenants, can ease the burdens of being a landlord. Treating your rental condominium like a business can help prevent unnecessary hardships.
Other People Are Reading
-
Maintenance
-
A landlord must keep the condo in good repair. Landlords have a responsibility to keep the condominium in good repair. You must keep plumbing, wiring and appliances in working order. Keep walkways and outdoor areas free of debris and safe to walk. Also, you must respond promptly to tenant requests for repairs and other concerns.
Rates
-
Calculate your costs and compare them to the rent you plan to charge. Calculate mortgage payments, utilities, repairs, maintenance and any professional services you use such as lawyers, accountants or property managers. Once you know all these costs, compare them to the rent you plan to charge. You may not make a profit right away with your condominium, but in the end, you should realize a net financial gain.
-
Screening
-
Create a rental application for all the information you need. Create a thorough tenant application including relevant information for credit checks, criminal history and rental history. Inform the tenant you will perform a credit check and get their written authorization to obtain one.
Deposits
-
A landlord has the right to request a security or cleaning deposit. In Florida, landlords can request a security or cleaning deposit before renting the condominium. This money must be kept in a separate, non-interest or interest-bearing account in Florida. Once the tenant vacates the apartment, the landlord will either return the deposit, plus interest, if any, or keep the deposit to fix damages done to the property.
Evictions
-
A landlord can evict a tenant for non-payment of rent. A landlord may evict a tenant for non-payment of rent, if the tenant damages the property, makes excessive noise or uses the property inappropriately (such as for illegal activities). A written notice is sent to the tenant who then has from seven to 60 days to vacate once receiving the notice, depending on their rental agreement.
-
References
Resources
- Photo Credit florida beachs image by Photoeyes from Fotolia.com condo building image by Betty Oesterling from Fotolia.com calculator image by gajatz from Fotolia.com signing a contract image by William Berry from Fotolia.com us dollar image by peter Hires Images from Fotolia.com apartment in shade image by jimcox40 from Fotolia.com
