When entering into a Lease Agreement, a Tenant must understand that the Lease Agreement is a binding, legal document. In Florida, the rights and duties of the Landlord and Tenant are fully explained in the Florida Landlord-Tenant Act; and lease agreements must be drafted to comply with the Act. Surprisingly, the legal import of the lease agreement is not fully understood and/or is disregarded by would-be Tenants. Following are two recent, true examples of rental failures illustrating this (in each case, the Landlords were attentive to the properties and eager to please tenants):
- A Davie, Fl. condo was leased when the tenant signed the Lease Agreement, accepted the property & paid the first, last & one month's security. Within one hour of closing & receiving the keys, the Tenant wanted to back out of the deal! The Landlord agreed to release Tenant, rather than dispute the merits of the case and, fed up with renting, chose to list the property for sale;
- Earlier this year, a townhome was rented in Plantation, Fl. As before, the Tenant paid the initial deposits & signed off on the walk-through sheet. Days later, Tenant informed the Landlord that he was unhappy with the place and wants out. That decision cost the Tenant an estimated $3,600 in liquidated damages. Landlord decided to sell the property, rather than risk another rent fiasco.
Leasing a property is a financial & legal decision that has consequences, and both Landlords & Tenants have rights and responsibilities. Read & understand both the lease and the Landlord-Tenant Act carefully before signing any lease.
Contact me with any questions about Selling, Buying or Leasing a property in Plantation, Fl. or elsewhere in South Florida.
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