How Smart Florida Landlord to protect themselves from liability in an unstable real estate market

As a landlord I am currently a number of homes for rent in South Florida have real estate market.

Each day, telephone calls from tenants are eligible for one of the houses for rent. With each new phone call, interested parties provide shocking revelations of sloppy, unethical and risky business practices by Florida Landlord used in difficult real estate market real today:

To conceal collect advance rent and security deposit, while the factthat their rent is in foreclosure - without leaving the tenants to deposit money to another free circulation

Offering below market rents for tenants to gain full knowledge that they intend to let slip at home in foreclosure

Combining security deposits and prepaid rent in their own personal bank account

Collects no deposit

Do not pay yourself time to their Florida property taxes

Taking into account trampolines, above ground swimming pools and vicious dogs on theOwnership - taking on the responsibility for risks not covered by their Florida home insurance,

Not enough or the wrong kind of Florida Landlord Insurance

Last but not least, do not care to meet their rent at home

With all this going, it's no wonder that tenants seem to have advantage over its Florida owner when a conflict arises with their lease and the case is heard by a judge in court. If you are a judge a case in your courtIf the owner had the kind of incompetence and mismanagement evidence described above, you would not be inclined, on the side of the tenant and will not allow tenants to be displaced?

So, what can you as a landlord to protect themselves in volatile today's Florida real estate market?

This is Florida, knowledgeable owner operated to minimize their rent houses and their risk:

Always collect rent, a deposit, which corresponds to two monthsto a minimum. In most Florida counties, it takes almost two months left to a tenant who drive behind on the rent. After another month of the deposit will be provided with an additional cushion to cover the time required to distribute and to offer some additional money for damage to your home. Keep tenants security deposit and rent in advance, a separate non-interest bearing account

Allow current and future tenants to know if you fall behind on your mortgagePayments for any reason. A sheriff shows up to your property require that your tenants and to collect their belongings from the house in 15 minutes is not the way your tenants should find that your house on rent is to be excluded.

Whether you're paying your Florida property taxes, which directly or ensure an escrow account that up to 30 November each year to obtain the maximum discount to pay. If your property from the trust, taxes are paid, please contact Florida MortgageCompanies and make sure they have received the invoice, and have planned it, to be paid on time.

Talk to a home insurance agent about the right kind of insurance to have on your rental home. In general, a rental home, apartment or Florida owners require fire insurance.

Put at least 300,000 U.S. dollars worth of liability coverage on your Florida home fire insurance. You need to carry out your tenant for the tenant insurance with a different value of U.S. $ 300,000 of liability coverage. This willshare $ 600,000 in total between a process and your personal assets.

If your insurance company prohibits certain activities with high risk, such as trampolines, spells it clearly in your lease.

Put all maintenance and rental of written safety instructions at home for your tenants. Provide your tenants with a written guide that explains how to operate everything in your house rental.

Document and respond immediately to all maintenance requests. If you can not fix the object immediatelysend your written updates on the status of the tenant of the item and if you expect to be completed the repair.

Every landlord should be familiar with Florida Statutes Chapter 83, which covers landlord / tenant relations in Florida.

As the Florida real estate market is still depressed, Florida, savvy landlords will follow these principles - not only to protect themselves if they ever appear in court, but your professionalismYou win the battle for new tenants, you will receive every time.

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