Florida Property Management Laws FAQ

If you own property in Florida and want to generate additional income by renting it out, you should be aware of certain laws that protect you and your tenants. Below, we will discuss some of the most important points, both when hiring a property management service and when renting.

#1 Learn about processes that require a license

While in Florida there is no specific license required to manage a property, agencies are required to obtain a real estate broker’s license when performing other activities, such as creating leases or rental agreements, advertising properties, or showing them to potential tenants.

At Home Management of Miami, we work in partnership with a licensed real estate broker to help you streamline the entire process of renting your property.

For further details regarding the specific requirements and exceptions related to property management in Florida, we strongly recommend you contact the Florida Real Estate Commission.

#2 Community Association Managers might also require a license

Community Association Managers (CAMs) don’t require a real estate broker license in Florida. However, it is important to note that a CAM license is necessary if an individual receives compensation for rendering management services for associations that fall into either of the following categories:

An association with ten or more units
An association with a budget of $100,000 or greater.

#3 Learn when and how to evict a tenant

Under Florida law, you have the legal right to evict tenants from your property. You must follow the process established by law, such as notifying your tenants, filing an eviction lawsuit in the county court, etc.

Here are the most common reasons you can evict a tenant:

They failed to pay rent.
They did not respect the leasing terms (e.g., having pets on a property where pets are not allowed).
They did not maintain the conditions of the unit according to the standards set by the law.

Evictions are always tricky and unpleasant processes. If you want to know more about what we can do to protect your property from troublesome tenants, contact us! We will gladly assist you.

#4 Effective property management can protect you from lawsuits

As a landlord, you are responsible for keeping the property you rent in good condition. If a tenant claims they have been injured because of your property or unrepaired utilities caused damage to their personal property, they may take legal action against you.

If you find it difficult to manage your properties, the best thing you can do is to hire a property management service.

#5 Store your tenant’s security deposit properly

A security deposit serves as evidence of the tenant’s commitment, their willingness to cover damages and fulfill rent obligations.

According to the law, there are 3 ways landlords can store a tenant’s deposit:

Surety bond: You can post a surety bond as a form of deposit storage.
Interest-bearing account: The deposit can be stored in an account that accrues interest. You should pay any interest to the tenant annually and at the end of the lease period.
Non-interest-yielding account: You can store the deposit in a non-interest-yielding account.

Given that security deposits can sometimes become a point of contention between landlords and tenants, it’s vital to be well-versed in these laws to ensure compliance and prevent disputes.