Many of those who invest in houses for sale in Miami and in general in real estate in South Florida, look to rent an apartment in Miami to generate a permanent income.
Once the property has been acquired, leasing it to a tenant either in the short or long term, involves taking into account different variables and supplying some processes. The objective should be none other than to make the process simple for the tenant. At the same time, it is indispensable to take into account the conditions of the contract and the rights and duties of the lessor and the lessee. Below we share a quick guide to having an apartment in Miami for rent.
The rights and duties of renting an apartment in Miami
Renting an apartment in Miami, a house or any other type of housing, is an agreement. In English it is known as “rent agreement” and does not necessarily have to be written. However, by leaving it in writing, the agreement becomes a lease. Here you can see an example. This process, according to the law, implies rights for the parties, but also duties.
The rights of the lessor (investor)
The main right of the landlord when renting an apartment in Miami, is of course, to receive a rent. In return, as the owner, you allow the use of your property. On the other hand, it is the right of the renter to receive back the property without damage, in the same condition in which he delivered it. Likewise, the owner can carry out periodic inspections.
The duties of the lessor (investor)
Notwithstanding its rights, the landlord must provide the tenant with the property in optimal condition and must not interfere with the use of the property. This implies, for example, not blocking use or public services. You must also notify in advance if you wish not to renew the contract and the conditions of renewal.
On the other hand, it is the duty of those looking to rent an apartment in Miami, to comply with the building, housing and health codes. This involves, for example, cleaning common areas where appropriate, and providing access to the venue and services. Without a doubt, it is necessary to have these precautions when showing the place. Likewise, you should try to keep it that way during the rental.
So what should a lease include?
It is worth mentioning that the scope of these rights and duties can be specified in a lease. Leaving terms, details, and agreements in writing will allow the landlord to implement them when necessary. Generally speaking, a lease for apartments for rent in Miami should include legal details such as:
- Description of the property
- General rental conditions
- Lease and Termination Dates
- Payment Process Specifications
- Entrance fees
- Permitted property reforms
- Liability for repairs and damage
- Income limitations of, for example, pets or children.
- Security deposit
- Failure to comply with obligations
It is important to note that real estate agents handle contracts that are approved by the association of real estate agents and by the bar association. Real estate agents do not write contracts.
What requirements or documents should be requested from the tenant?
Applicants to rent an apartment in Miami must meet some requirements. These translate into documents that the tenant can and should request. These are the main ones:
- Document certifying more than 18 years of age.
- Security deposit equivalent to one month’s rent.
- One month security deposit
- In-person interview.
- Occupancy standards (usually 2 people per room).
Beyond that, background research plays a determining role. Typically, it consists of the following points:
- Current Employment Verification
- Credit rating review.
- Review of public records of past evictions.
- Previous references from landlords.
- Criminal record.
Should I go to an advisor to carry out the whole process?
It is always recommended when renting an apartment in Miami, to go to professional advice. The deal can be done directly. However, there are many variables that must be taken into account. In order to facilitate the flow of the process, and above all, to have support at the time of any eventuality, it is always advisable to consult with an expert. This will allow the investor to devote his time to his activities and leave his property in the hands of professionals.
References
The Florida Bar. (May 2017). Rights and Duties of Tenants and Landlords. Retrieved from https://www.floridabar.org/public/consumer/tip014/#RIGHTS%20AND%20DUTIES%20OF%20LANDLORDS
Online Sunshine. (August 8, 2020). The 2011 Florida Statutes. Retrieved from https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0083/0083PartIIContentsIndex.html&StatuteYear=2011&Title=->2011-Chapter>%2083-Part>%20II
