Florida rental/lease agreements

Florida rental/lease agreements

The Purpose of a Florida Lease Agreement

A lease is an authorization that specifies the terms under which one party is authorized to rent a possession (in this case, property) owned by another party. It assures the lessee, also known as the tenant, the use of the property in exchange for regular payments to the lessor (the property owner or landlord) for a specified period. If the terms of the lease are not followed, both the lessee and the lessor can face legal consequences. A lease is an example of an incorporeal right.

The Difference Between a Commercial Lease and a Residential Lease

A commercial lease is needed majorly for business. This is where a company hires retail equity to operate labor from that area. The proprietor, in exchange for money rents out the premises, which is usually a commercial building. Commercial leases usually last for three to five years establishing a long period of alliance seen between lender and borrower.

A residential lease exists majorly for residential purposes. This is where a landlord rents a property for residential purposes in exchange for an agreed amount. Despite their similarities, there are several distinctions between the two types of leases. A residential lease, for example, cannot be used for business purposes even though they both require landowners to lease out space to a renter for a fee.

It is also worth noting that commercial leases are slightly supervised and provide limited insurance. Generally, they are valid for longer periods and provide more flexibility in terms of negotiating terms compared to residential tenancy

Another dividing line is that in a residential rental agreement, tenants aren’t usually required to pay property taxes, however, in a commercial lease agreement, tenants are usually required to pay tax liabilities.

Before signing a lease agreement, make sure you've done your homework on the property. Inquire about the neighborhood, the landlord, the region's zoning laws, and any other disturbance and environmental regulations that apply to the property.

Other types of lease agreements include:

• Standard Lease Agreement: A standard lease agreement is a contract used to draw out the terms and conditions for renting a property for a fixed period. By signing this agreement, the tenant agrees to stay on the property and pay rent for the duration stated in the contract which is usually one year or more.

•  Month-to-month Lease Agreement: Much like a standard lease agreement, a month-to-month lease agreement also depicts a period for which a tenant has agreed to stay on the property. The only difference is that while the former covers a larger period (a year), this agreement is valid for just a month and must be renewed each month until the tenant vacates the property.

• Rent-to-own Lease Agreement: A rent-to-own lease agreement comes with the option of buying the property at the end of the lease term. However, the rent payments made by the tenant before actually deciding to buy the house do not count as property purchase payments.

•  Roommate Lease Agreement: If two or more individuals decide to rent an apartment together, the landlord would have to create a roommate lease agreement. This contract would be used to establish any rules the landlord has set as well as any financial commitments and contributions the tenants must make.

• Sublease Agreement: A sublease agreement is used to establish a formal relationship between a sub-landlord and a subtenant. A sublandlord is a person who has rented a property from the actual owner but wishes to rent out a part of it for money. A subtenant is a person who rents a part of a property from the sub-landlord.

• Commercial lease: A commercial lease is used when a tenant wants to rent a property for business purposes. This can range from office space to manufacturing space. These types of leases are much more variable and put a higher burden on the tenant than residential leases. 

How To Fill The Florida Rental and Lease Agreement

Step 1: Save the document to your computer.

To make things easier, we've included a free Florida lease agreement template form on this page. It's worth noting that you can also personalize a copy for use without a document generator. Just answer a few questions and the document will be created for you. 

Step 2: Fill out the vacant spaces 

Ensure to give the following  information in their assigned spaces and tick where necessary:

• The date of the agreement.

• The landlord's full formal name and mailing address.

• The resident's full formal name and mailing address.

• The lease type, whether fixed or monthly.

• Other occupant details.

• A description of the property.

• A description of any other personal property being sold in addition.

• The purpose of the property is either residential or commercial.

• Details of the paid rent.

• The risk of a late fee (payment).

• Proration period.

• Parking rights and space.

• Smoking policy.

• The pet policy.

• Noise policy.

• Guest policy.

• The right to use a water bed.

• Duration for notice.

• The maximum period for abandonment.

• Dispute settlement.

•  The governing law

• Details on the amount ($) due at signing. which includes;

• Security Deposit: $(Security deposit amount)

• First (1st) Month's Rent: $[1st months rent)

• Parking Fee: $(Parking fee)

• Pet Fee(s): $(Pet fee)

• Pre-Payment of Rent: $(Pre-Payment of rent)

• Proration Amount: $(Proration period)

• Total Amount: $(Total Amount).

Step 3 - Validation 

The last page of this document requires the names and signatures of the landlord, tenants, and their agents and also the date of signing this paper document. Signing this document validates the agreement.