So, you’ve got a new rental property in Tampa, Florida, and you want to create a solid rental agreement. Focusing on crafting one that’s comprehensive and doesn’t leave room for loopholes is ideal. Too many conflicts can stem from rental agreements if they are vague and subject to different interpretations.
For instance, say you state that repair costs for damage found when a tenant ends the lease will be deducted from the security deposit. However, a tenant can contest this simple statement. How do you define property damage? What type of property damages are considered deductible?
If you don’t list specific types, anything can fall under the umbrella term “property damage.” This can be avoided when your Tampa, Florida rental agreement is detailed and clear.
Here are essential items that should be present in your Tampa, FL rental lease:
1. Name and address of the property
The rental agreement must contain the full name of your Tampa rental property. It should also state the complete address, including number, street, town and zip code. If it’s an apartment, then the unit number must also be included. This information differentiates your property from the rest. Therefore, proper identification of the full location is required.
2. Name and address of the parties of the contract
You must include the full name of the landlord or agent/property manager in the rental agreement of your Tampa rental unit. Avoid using nicknames since this is an official document and can be part of supporting proof when presented in court.
The full addresses of the parties must also be found in the lease. This is helpful when a tenant has moved out, and the landlord needs to communicate by sending postal mail.
3. The validity of the rental term
To avoid confusion, be specific with the start and end dates of the tenancy. Contract validity will be from this (day, month, year) to this (day, month, year). If you use a general term such as a period of one year, then a tenant can keep extending the day or month.
Some rental terms can also last for a few weeks or months, depending on the type of Tampa, FL rental unit you have. So, if it’s a vacation unit, your rental agreement should still state the exact start and end dates. However, you can stipulate a month-to-month extension in your rental agreement for flexibility. Just make sure to have specific conditions.
4. Due date and rent amount
Issues regarding rent payment tend to result in frequent conflicts. Be specific about when the rent will be collected. Again, use day, month and year.
The rent amount must also be stated in figures and words, and include the currency. Make sure to mention the rent due per month and the whole year to be transparent. If there are other charges to be collected, that will also be part of your Tampa, FL rental agreement, but in a different section.
5. Rental clauses of the contract
Different landlords have varied clauses, but there are still intersecting ones that are part of every rental agreement. Neglecting to do so would create a potential disagreement.
Thus, ensure that your Tampa, FL lease contains a security deposit clause, pet policy, penalty policies and tenant possessions conditions.
Under the security deposit clause, key details must be present such as the amount of the security deposit and the specific date that it’s to be handed to the landlord. It should also state the location in which the security deposit is being held, be it a bank or another financial institution. The renter also has the right to know the interest rate, so this is also included in the Tampa, FL rental agreement.
To prevent debating over the deductions from the security deposit after the tenancy ends, enumerate the conditions. For example, if there are repair costs for property damages, the rental agreement must mention the types of property damages that will affect the deposit. This way, the renter is aware and will try to keep the unit in excellent condition to get a full security deposit refund.
Whether or not you decide to welcome pets into your Tampa, FL rental property, this decision must be stated. You can’t hold a tenant accountable for sneaking in a pet when the leasing agreement doesn’t state its prohibited nature. However, if you permit pets, it’s also important to categorize the types you’re accepting. Otherwise, a tenant can bring any kind of pet without regard to its size, breed or permit requirements.
It’s also important to add specific requirements such as vaccines and additional insurance. You’ll also have to state the pet fee if you’re collecting a pet rent or pet deposit. This prevents many arguments with a tenant, especially in terms of payments, policies and expectations.
When violations are committed in your Tampa, FL rental property, there must be a guideline on the topic of penalties. For instance, a renter failed to pay on the stated due date. How will this be addressed? You can mention late payment fees, grace period and additional fees when checks bounce.
Policies about tenant possessions
When a tenant exits your Tampa, FL rental unit, a couple of belongings may be left behind. A 10-day collection period, if the notice was hand-delivered, is allowed under Florida law. If the notice was mailed, the tenant can pick up his remaining items within 15 days. A tenant must be aware of this provision, and so it’s helpful to include it in the rental agreement.
Landlord and tenant signature
For your Tampa, FL rental unit, the signatures of all parties must be on the leasing agreement. All the tenants beyond 18-years old must print their signatures on the contract, including the date of signing. This means that the terms specified are mutually understood and agreed upon.
Your Tampa, FL agreement acts as a protection of your rights whether you’re a landlord or tenant. It will also remind you of your responsibilities and guide you on the procedures for specific situations. If you have any inquiries regarding this post or other subjects regarding property management, contact Cavalier Estates LLC. Work with us today and find out what we can do for your rental investments!