In 2003, a Circuit Court case rocked the rental industry costing apartment communities millions of dollars. A law was put into place in Florida Statutes allowing a limited situation when residents could be given the opportunity to “pick their poison” if they were to break the lease early. They could elect paying a set fee (up to 2 months’ rent) or choose being responsible for paying rent unit the earlier of the lease expiring or the unit being re-rented. If residents pick the one set fee, you CANNOT charge the resident additional rent because they failed to give you proper notice. This common practice is going to result in more lawsuits. Check your procedure now!
HomeQwest Realty Group, LLC
Cape Coral FL Property Management
No comments:
Post a Comment