Overview of Breaking a Lease in Florida
March 16, 2020
Breaking a lease is generally looked down upon. Signing a contract means giving your word that you’ll fulfill your end of it.
Nonetheless, what happens when unforeseen events occur and plans go awry so you break your lease?
This article will provide you with all the important information regarding the laws in Florida on breaking a lease. Remember that both tenants and landlords exercise rights and responsibilities. It’s important to check that each party’s law-given rights are respected.
Senior-Friendly Renting Tips
Feb. 16, 2020
Senior renters are the best of both worlds. They don't like to skip payments and they are the least likely to involves themselves in criminal activity. The fact that seniors prefer to stay put in one spot is also an added bonus for rental property owners looking for a long term tenant.
If you are hoping to make your rental property an enticing option for a senior tenant, there are four things you should know:
Security Deposit Laws in FL
Feb. 14, 2020
Lease agreements ordinarily require paying a security deposit to cover future damages. It is also to protect rental owners when tenants are unable to pay or skip paying their monthly rent.
6 Renters Who Are Tough to Insure
Feb. 11, 2020
There are seven types of renters who are known to fall under the "difficult to insure" heading. They are viewed as inevitable risks and it can be challenging to landlords to convince major insurance carriers to consider them.
Single, Double & Triple Net Leases
Feb. 9, 2020
As a landlord/rental property owner, you are already familiar with the basics of a general landlord/tenant lease agreement. The contract has been tailored to fit your personal requirements, entailing the expected monthly rent fee and due date, the specific utilities you expect your tenant to pay and restrictions regarding pets, smoking, etc. It's straightforward and practical in nature and it gets the job done. However, there are a myriad of lease options available to you as the owner/landlord, three of which are as follows:
Why Require Renters Insurance
Jan. 31, 2020
Most landlords wisely carry a landlord insurance policy. This policy covers landlords in the event of a lawsuit as well as the building being rented. However, that policy will not cover the contents within the property. Most tenants expect to carry a renters insurance policy. Others would rather not belabor the costs of this policy and really don't understand the value of such protection.
Post Judgement Collection
Jan. 25, 2020
Unfortunately, it is no uncommon for landlords to get burned by non-paying tenants. The process of filing a claim and heading to court is exhausting, but can be rewarding if a judge rules in favor of the landlord. The problem: it is up to the landlord to collect on that judgement. Ideally, the ex-tenant will pay up and end the whole messy process. On the other hand, why would a historically non-paying tenant break his or her record by immediately settling the debt? Things could go either way, however landlords finding themselves in the position of having to collect a past-due debt are not completely without hope. In fact, there are four different strategies to choose from when attempting to collect past-due rent and court fees:
Questions for Potential Partners
Jan. 15, 2020
"Stronger together" might seem like a weak cliche or lame business slogan, but there is some truth to that statement when it comes to forming a solid investment partnership. As an investor/landlord, you will, at some point, be faced with the prospect of entering into a business partnership. Partnerships can be hugely beneficial and enormously risky if you don't know the right questions to ask your potential partner.
Attractions for Premium Tenants
Jan. 10, 2020
1. Education
For tenants with children, school district in the number one factor for selecting a rental property in which to reside. Single parents, in particular, are concerned that their children attend excellent schools and are willing to pay more to ensure they do. In addition, premium schools are often a strong indication that surrounding neighborhoods are also of premium quality. As an investor, strive to purchase rental properties located within great school districts.
What to Look for on Walkthrough
Jan. 3, 2020
Vacancy walk-throughs are a must for every landlord and there are ten critical items which must be inspected when a tenant vacates a property: