Renters Rights Florida Foreclosure
This article will introduce the reader to renters rights in a Florida foreclosure. These renters rights in a Florida foreclosure largely came about after the subprime crisis that saw many rental properties change hands. Before, renters rights in a Florida foreclosure did not do much for tenants who found themselves being thrown out by the new landlords although the new law has made several improvements to renters rights in a Florida foreclosure, as explained below. The new law about foreclosures offers ample protection to the existing tenants of a rental building.
Tenants with or without a lease – renters rights in a Florida foreclosure – The renters rights in a Florida foreclosure will depend on whether or not the tenant had signed a lease. If the tenant was on a tenancy at will arrangement or if they lived on a month to month basis, renters rights in a Florida foreclosure would give them 90 days to vacate the premises of the rental property, if the new landlords wish to evict them. However, if a tenant had signed a fixed period lease, renters rights in a Florida foreclosure will give that tenant the authority to stay at the rental property until the end of the lease period.
Cash for keys program – renters rights in a Florida foreclosure – On some occasions, the new owners of a rental property might not want to wait for the lease of the existing tenants to expire. In these cases, they might offer a bundled cash amount and ask the tenants to waive their renters rights in a Florida foreclosure and leave the property as soon as possible. Many tenants fall for such offers as they are often tempted by the sizeable amount of cash they can get their hands on. Though it is legal for landlords to offer such schemes, it is advised that interested tenants consult their attorney before taking up such an offer as renters rights in a Florida foreclosure can be abused with such “cash for keys” offers.
Security deposits and rent payments – renters rights in a Florida foreclosure- A tenant will have to protect their renters rights in a Florida foreclosure by actively seeking information on the foreclosure of the property. There have been many cases where the old landlord continues to collect rent on a property that they might have already lost ownership to. In these cases, the tenant may become liable to pay rent twice as the new landlords will simply blame the old landlord for illegal rent collection. The renters rights in a Florida foreclosure will allow a outgoing tenant to collect their security deposit refund just like a regular tenant. As per Florida law, renters rights in a Florida foreclosure will allow a tenant to expect their refund to be processed in 30 days after the end of a lease or after they have left an apartment. If the landlord is making any deductions to the security deposit, landlords will usually have an extra 30 days from the date on which the repairs were carried out to refund the security deposit.