All Forum Posts by: Karen A.

@Andrew D Stendahl  There are no easy answers to your questions, but I'll try.

The market is super hot right now.  A well-priced house does not stay on the market for very long; maybe just a few days.  The same thing with rentals.  House prices and rental prices are very high, even higher than they were at the last 'peak' in 2005/2006.  Since you mentioned trailers, the prices range from $20K in not-so-good areas to $300K+ on the island.

I am more familiar with Bradenton neighborhoods than Sarasota, but there are areas in both that are great and also not so desirable.  You'd really have to narrow it down to ask opinions on a specific area.  Overall though, Bradenton is a bit less expensive than Sarasota.

Short-term rentals vary by town and/or neighborhood. AMI (Anna Maria Island) is cracking down on vacation rentals and have many restrictions. It will also depend on whether a specific neighborhood has an HOA or not. You have to follow the rules of the HOA. Again, you have to be more specific to get a good answer.

I have a wonderful agent who has done many transactions for us.  PM me if you want her information; she's the BEST.

@Peter Walther  I think what you stated in the case decision perfectly illustrates my point.  What that apartment complex was trying to do does try and get around legislative intent AND was injurious to a tenant who just wanted to exercise their right to leave.  Otherwise the apartment complex is essentially holding them hostage (most landlords can't afford to "hold" a property for 60 days without payment and most tenants can't afford to pay double rent for 60 days.)  So therefore you could argue that it's unenforceable.

You may be right about a contract defining the term "reasonable" by listing the hours.  But I didn't think that was case in the OP's scenario.

@Peter Walther I think we could agree on anything and put it into a contract, but that doesn't mean that part of the contract could be upheld in court if it contradicts a statute.

For example, I had a tenant one time who signed a lease with their (former) landlord.  The lease said they had to give 60 days notice to vacate while they were on month-to-month, otherwise they'd owe penalties.  The tenants signed this lease, thereby agreeing to its terms.  But the statute says they only need to give 2 weeks notice.  When it came time for the tenant to leave that rental and come to mine, the landlord (an apartment complex) tried to enforce that part of their lease and collect penalties for less than 60 days notice.  They even showed the tenant the lease and where it stated that.  The tenant was dismayed.  So my husband called the apartment complex and quoted the law to them and boy did they back down FAST.  The tenant was released from the month-to-month with no penalties, and had several happy years with us until they bought their own house.

I know that the apartment complex knew their clause was illegal, which is why they backed down so fast.  But they try to bully people so they can get more money.  It's shameful, really.

As for the definition of "reasonable,"  ultimately that is up to a judge to decide if it gets that far.  Another example:  I recently had a tenant who left a lot of marks on the walls, so much that we had to repaint the whole house.  She thought it was "reasonable wear and tear" and shouldn't have to pay for painting.  I did not think it was "reasonable" at all.  It went to court.  The judge agreed with me.  Case closed.  :-)

FYI, nothing in a lease can override a statute. Statutes always override a lease (F.S. 83.47)

The landlord needs a specific reason to enter, see FS 83.53(1).  Did he give you the specific reason?
I would say that the 1-4 week time period violates FS 83.53(3), because it's "abusing the right of access", and possibly "harassing" you.  Tell your landlord you'd appreciate setting up a specific time that you both agree on.

@S Harper:  The bank and I just compared notes as to what I needed and the products they were offering, and we found something that works for both of us.  I told them why I wanted the account and emphasized why I can't have fees taken out.  I have several rentals and I keep all the pre-paid money in that one account, so I always meet the minimum.

Read the statute carefully.  You must provide to the tenant the bank name and address, and that bank must be in Florida.  You have to tell them whether it is interest-bearing or non-interest-bearing.  if interest-bearing, you have another set of rules to follow regarding that interest.

@Mike Terry  As a financially conservative person/investor, I think your words are very wise.

If you rent 4 or less rental units, you don't have to provide any information to the tenant (FS 83.49 (2)).  If you rent 5 or more rental units, you need to provide to the tenant the name of the financial institution and the address, which must be in Florida.  You have to tell them whether it is an interest-bearing account or non interest-bearing account.  You DO NOT have to give them the account number!  I opened a non interest-bearing checking account with a local bank down the street.  I made it clear that I do not want interest and I do not want fees taken out; they have to leave it alone.  So far, so good.  I put the name and address of that institution directly in my lease so that tenant has it.

Another option is to rent it on a monthly basis to snowbirds during "season."

I would like to second what @Alberto Nikodimov said.  Competent contractors are few and far in between.  You pretty much have to learn how to do most things yourself if you want it done right.