Security Deposits for Florida Rentals

It’s also common to refer to the move-in money as “three month’s rent” BUT stipulating that amount as “first month’s rent plus two month’s security”. With two month’s security deposit held by the landlord, tenants are still responsible for paying their last month’s rent. And they cannot request that their security be applied to their last month’s rent if it has already been designated as security. By holding two month’s security, Landlords have more money to cover potential damage or unpaid rent or late fees. Got new wood floors? Brand new carpet or a new AC system? Do the tenants have a very energetic puppy? In many cases like these, landlords will want to hold more security to be able to cover the potential expense for repairs/damage that are more likely with these situations. Florida is very strict about what money is designated: security deposits OR rent. It’s VERY important to use correct language in a lease and to abide by all laws regarding holding and USING security. Tenants need to read through their lease and make sure to adhere to its provisions, or be prepared to lose some or all of their deposit. In addition to losing security, the landlord can also seek additional compensation from the tenant through the court system, and/or a collections agency.