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Updated on September 24th, 2021
A Florida rent-to-own agreement allows a tenant to rent a landlord’s property for a fixed term with the option to buy the residence before the term ends. The document contains many of the same terms as a standard lease, such as the lease term, rental price, and division of utility expenses; however, it differs from most rental agreements in that the tenant will often be responsible for repairing and maintaining the property instead of the landlord.
The terms and conditions for the proposed purchase are included in the agreement and must be decided before the contract is signed. If the tenant changes their mind or is unable to complete the purchase before the lease runs out, they will lose all their investment in the property, including any fees, deposits, down payments, and repair costs made during the course of the agreement.
Rental Laws – Title 6, Chapter 83 (Landlord and Tenant)
Purchase Agreement Laws – Title 40 (Real and Personal Property)
Disclosures (4) |
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The landlord or agent thereof must provide the name and address of the person responsible for sending and receiving notices and demands.
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2) Lead-Based Paint Disclosure If the premises was built before 1978, then this disclosure must be signed by all parties.
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Landlords must provide a radon gas disclosure that includes the language required by state law to all tenants before the lease agreement can come into effect.
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If the landlord of the dwelling rents more than five (5) units, then written notice including all information stated in Subsection (2) of Section 83.49 of the Florida statutes, must be provided to the tenant regarding the manner and location of where their security deposit is held.
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