As the owner of residential rental property, communication can be key to having a positive landlord / tenant relationship. But, while you may be providing your renters with some important information, under the Florida landlords-tenant law, there are several items that your tenant(s) have the right to know and understand. These include:

  • Rent Amount – Certainly, one of the most important details is the dollar amount of rent that the tenant must pay in order to reside in the property. Therefore, be sure to include the exact figure in the lease agreement. Make sure that you also provide details on what form(s) of payment are acceptable. For instance, the tenant(s) may be allowed to pay via check, money order, and / or electronically through PayPal or ACH (Automated Clearing House).
  • Rent Due Date – The due date of the rent is also an essential piece of information. Although rent is oftentimes due on the first of the month, this is not necessarily always the case. So, be sure that you include the due date in the lease, as well as the length of a grace period (if applicable), and any penalties that may be incurred if the rent is late.
  • Duration of Tenancy – The duration of the lease is yet another item that needs to be specified. This may be 6 months, 12 months, or some other length of time. In some cases, the initial tenancy may be for 12 months, after which it becomes month-to-month.

Residential lease agreements are considered to be binding contracts between tenants and Florida landlords. With that in mind, the more details you can provide in your lease(s), the less chance there is to be misunderstandings.

Working with a property management company, you can leave all of the lease details to a professional who can not only collect the rent and manage tenants, but also take care of both day-to-day and emergency maintenance issues.

If you own rental property in Orlando or the surrounding Central Florida area, give us a call for more details on how a professional and experienced property manager can work for you and your real estate rental business.