Security Deposits In Landlord-Tenant Law
Nowadays, most residential leases require what is known as a security deposit, given to the landlord before a tenant can move into a home or apartment. Security deposits ostensibly provide some financial protection to landlords, though they can also be the impetus for some of the most common disagreements between landlords and tenants. If you are looking to rent your unit, or if you are a tenant seeking to move in, it is important that you understand Florida’s strict regulations governing security deposits and leases.
Methods Of Handling Security Deposits Are Strictly Controlled
A law passed in 2024 requires a landlord to hold a security deposit in one of three ways. The amount must be (1) in an interest-bearing account where the tenant receives the interest; (2) in a non-interest-bearing account; or (3) as a surety bond. The tenant must be informed of the landlord’s choice within 30 days of moving in, and when the tenant moves out, the funds must be returned to them within 15 days if no deductions have been made.
If a landlord plans to deduct certain amounts from a security deposit for alleged damage done to the unit, a different procedure must be followed, but the tenant must get a chance to dispute the deductions before a final decision is made. If a landlord does not provide proper notice, or decides to keep the amount of the security deposit in another way, they may face consequences in the form of not being able to take deductions at all.
Specific Deductions Allowed
In the past, it was more common for unscrupulous landlords to try and claim deductions from a tenant’s security deposit when they had no right to do so; for example, they might claim damage that turned out to be ordinary wear and tear. Nowadays, this is more difficult in Florida because the state has a specific list of allowable deductions. Some of them include:
- Unpaid rent;
- Unpaid bills, such as utilities;
- Replacement costs for items that ’belong to the property,’ such as electronic key fobs or remote controls; and
- Damages beyond normal wear and tear, such as broken windows, ripped carpet or damage to walls or fixtures.
It is common for landlords and tenants to disagree on deductions, most often when they differ over the definition of ‘normal wear and tear.’ However, both must be on the same page, so to speak, before either can move forward. The right attorney can help ensure your rights are protected.
Call A Tampa Landlord-Tenant Law Attorney
Whether getting a new tenant or a new place to live, landlords and tenants need to understand their rights and responsibilities, especially regarding finances. A Tampa landlord-tenant law attorney from the Seward Law Office can help you understand how to ensure your security deposit is handled appropriately. Contact our office at 813-252-6789 to schedule a consultation.
Source:
flsenate.gov/Laws/Statutes/2015/83.49
