Residential Leasing in Florida – What Smart Investors Should Know

If you’re a real estate investor in Florida, residential leasing can be a reliable stream of passive income — if done right. But without the right legal setup, tenant screening process, and property management practices, it can quickly turn into a money pit.

Here’s a no-fluff guide to residential leasing for investors who want returns without the drama.

Step 1: Buy the Right Property, Not Just Any Property

Just because it’s cheap doesn’t mean it’ll cash flow. Choose investment properties based on:

• Location demand (school zones, job access, low crime)

• Rental comps (how much similar homes are leasing for)

• Maintenance outlook (age of roof, HVAC, plumbing)

• Tenant pool (Is this area known for reliable, long-term tenants?)

A good rental property is low headache, not just low purchase price.

Step 2: Set Clear Leasing Criteria Upfront

Prevent eviction battles by setting clear screening criteria from day one. Here's a sample that many Florida landlords and property managers use:

• Minimum 2.5–3x monthly rent in income

• 600+ credit score (lower score = higher deposit)

• No evictions or landlord collections in last 3 years

• Valid ID and rental history verification

Pro Tip: Include the screening criteria in your listing to filter out unqualified applicants before they apply.

Step 3: Use a Strong Lease – Not a Google Template

A vague lease = trouble. Your lease should be tailored to Florida law (Chapter 83) and cover:

• Security deposit terms

• Maintenance obligations

• Notice requirements

• Pet policies

• Rent due dates and grace periods

• Consequences for lease violations

Have it reviewed by a Florida real estate attorney — it’s worth every dollar.

Step 4: Know Who Handles What (Landlord vs Tenant)

• Landlord covers: structure, plumbing, electrical, roof, appliances (if provided)

• Tenant covers: general cleanliness, lawn care (if in lease), minor fixes, utilities

Prevent disputes by outlining this clearly in the lease and walking through it during move-in.

Step 5: Respect the Process – Notices, Evictions, and Non-Renewals

Florida is landlord-friendly, but you must still follow legal procedure:

• 3-Day Notice to Pay or Vacate – for missed rent

• 7-Day Notice to Cure – for lease violations

• 15-Day Notice – for month-to-month non-renewals

• Eviction filings – must go through court (no lockouts, power shut-offs, etc.)

Illegal eviction = tenant wins (and you lose time, money, and possibly a judgment).

Step 6: Handle Security Deposits the Right Way

• Keep it in a separate Florida bank account

• Return within 15 days if no claim

• If claiming damage, send notice within 30 days

• Tenant has 15 days to object

Mess this up and you could lose the entire deposit — even if the tenant caused damage.

Final Thoughts: Leasing Is a Business, Not a Hobby

Treat your rental like a real business:

• Document everything

• Stick to your lease

• Enforce policies consistently

• Stay compliant with Florida law

When done right, residential leasing creates consistent monthly income and long-term equity growth. Done wrong, it becomes an emotional rollercoaster with legal risks.

#TheMustangLawyer