Identify the actual risks and take real action not legal finagling. 

Take Action!

If you're planning to hold this rental for long time replacement is your best course of action.

Key actions include studying the market, checking out properties, forming a team, getting the money ready, and beginning with something small.

I decided to jump into the deep end with taking action and hired some VAs that's generating me a ton of leads.

So leave the sensitive stuff for later (if ever—it’s not customary to provide that stuff in equity transactions and your debt folks are going to want current stuff or to run it themselves).Since you have experience, flaunt it.

The Assessments levied by the Association shall be used exclusively for payment of Common Expenses including, without limitation (i) the upkeep, maintenance and improvement of the Common Areas and other maintenance obligations set forth in Sections 10.1 and 10.3 below; (ii) maintenance, repair, replacement, and operation of rights-of-way and easements within or immediately adjacent to the Project (e.g. landscaping and sidewalks within the right-of-way of adjoining streets) to the extent that such actions are required by government entities or deemed appropriate by the Board, (iii) promoting the recreation, health, safety and welfare of the Owners and other lawful occupants of Lots within the Property, (iv) payment of property taxes for the Common Area; (v) insurance premiums; (vi) legal and accounting fees; (vii) management fees; (viii) charges for utilities and other services provided to the Common Area by the Association, if any, and for all utility charges paid or incurred by the City and reimbursed by the Association for street lights in the Common Area; (ix) costs to maintain the entrance features, including any electricity, landscaping and irrigation expenses associated therewith; (x) the performance and exercise by the Association of its rights, duties and obligations under the Project Documents, and (xi) maintaining any Stormwater Control Facilities located on portions of Common Areas to the standard required by the governmental entity or agency having jurisdiction over such areas.

I normally advise my clients in Florida in this situation to:1) give proper notice of non-renewal, and at the same time,2) give notice to pay.If tenant doesn't pay within the notice period, file eviction, and the non-renewal notice serves as a "back stop", if you will, in the eviction, in case you needed to amend the complaint to add that count to the action. 

The tenant funds are returned and on their way back to the tenant, and the subscription funds are being returned to you.Your action has helped us prevent this issue for other business owners.

The strategy is simple to understand, straightforward to execute and taking action is required in order to see a ROI.