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Old 01-30-2016, 11:57 AM
 
2 posts, read 1,623 times
Reputation: 10

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Hey guys,
I have a house in the Florida Keys that has an "apartment" attached under the same roof as my main home. Because rentals are a premium down here my wife and I are planning to rent this apartment out. We are going to be real picky and only rent to the elderly without any kids (it's a large one bedroom/2 bath apartment).
I don't want to legally bind someone to a lease if they don't want to be here. Basically, I want someone who is quiet, happy and can offer them to leave when they want. My question is should I rent without a written lease(at will tenancy) or with one? I'm not worried about loss of income that a lease may help me with. I am more concerned about getting someone out, if need be, with the less hassle.
Can someone give me real world experience about my choices? What are the pros and cons of each?
Thanks guys
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Old 01-30-2016, 12:53 PM
 
12,016 posts, read 12,744,120 times
Reputation: 13420
Yes, a lease will protect the LL and spell out the rules. Just do a month to month lease. with 30 days notice, but if you don't really care verbally tell them if they are not happy they can leave.

Even if you are not happy with them you would have to give them 30 days notice unless you rent it week to week and then you can give 7 days notice. Even without a lease you have to follow verbal lease agreement rules so it's in your favor to have one as a LL.
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Old 01-30-2016, 06:21 PM
 
Location: Sarasota FL
6,864 posts, read 12,069,407 times
Reputation: 6744
Have a lease, collect first, last, security. But if the tenant wants to break the lease, let them out. It's cheaper than the lawyer, court thing.
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Old 01-30-2016, 07:04 PM
 
Location: Port Charlotte
3,930 posts, read 6,439,200 times
Reputation: 3457
Definitely a lease. What are going to do if he decides he is not going to leave when you tell him to? A verbal lease is very weak. Gives you how to evict, security deposit (yes you want one), when the rent is due, late charge, etc. worth having an attorney write one up.

That being said, be sure to ask what the rules are in your community. May be no issues, may have minimum lease requirements (some cities and counties are enacting 6 month minimums).
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Old 01-30-2016, 07:12 PM
 
2,407 posts, read 3,186,337 times
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Anything under 6 months requires you to collect an occupancy tax- like you pay when you rent a room in a hotel. StarFishKey has written in detail about rentals in the Keys. Apparently there are a lot of local laws. You may want to search for her posts with "rentals".
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Old 01-31-2016, 05:46 AM
 
2 posts, read 1,623 times
Reputation: 10
Thanks a bunch guys
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Old 01-31-2016, 07:33 AM
 
Location: Heartland Florida
9,324 posts, read 26,738,096 times
Reputation: 5038
Better be zoned multi-family or code enforcement can be used by the tenant to ruin your life.
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