As the owner of rental real estate, you are likely well aware of the time and effort it takes to find and screen potential tenants for your investment property(ies). So, once you have a tenant in place, it can be frustrating if they decide to move out before they have fulfilled the time frame specified in the lease.
A tenant who moves out early can impact your incoming cash flow. This is why it’s so important to have clear guidelines in your lease regarding what happens if they break the lease and move out prior to the specified date.
In Florida, landlords are not required to make any type of special effort to find a new occupant for a property if their current tenant moves out before fulfilling the terms of the lease. This, in turn, could mean that the tenant is responsible for the remainder of the rent that is due.
The tenant may also have to forfeit his or her security deposit.
A rental agreement in the Sunshine State that is for one year or longer must be in writing. (Agreements for shorter periods of time can be either written or oral). If the lease agreement between you and your tenant(s) does not specify the length of the rental period or how the lease will end, the following schedule will be implemented with regard to how much notice the tenant must give the landlord.
Dealing with tenants can be time consuming. But you could delegate that time to a property manager so that you can concentrate on other things. If you own investment real estate in or around Central Florida, give us a call to find out more.