Often, people rent out their condos while they are at a home in another state, and you may be considering doing so, yourself. You may have already checked with the homeowners association to make sure this is not against the rules. However, there may be other rules in the HOA’s governing documents that could affect you and your tenant.
Florida International University College of Law suggests you check the governing documents closely to see if there are provisions about association dues, security deposits and maintenance.
Delinquent association dues and rent
If association dues slip your mind and you fall behind in your payment, the HOA could get them from the tenant — in the form of the rent check. While Florida law allows HOAs to requisition the rent, they cannot require the tenant to pay the full amount, so you will still owe the balance.
Double security deposits
If it is in the governing documents, then the HOA can require that your renter pay the association a security deposit, and it can be as high as one month’s rent. Having to pay two security deposits may make finding a renter challenging.
You may already be familiar with what maintenance issues are the responsibility of the HOA and which are yours. If not, read through the governing documents carefully. Your tenants will need to know whether to take care of a matter themselves, contact you or contact the association.
Usually, the condo and your property are your responsibility to insure, maintain and repair. The tenants should insure, maintain and repair their personal property, and the HOA’s responsibility is anything that is not part of your unit. However, if a tenant is negligent and damages something, he or she will likely be liable for it.
Whatever you find in the governing documents, the key is to include it in the lease so your renters will know exactly what to expect.