Security Deposits
The term “security deposits,” is defined in Section 83.43(12) of the Florida Residential Landlord And Tenant Act, to mean: Any moneys held by the landlord as security for the performance of the rental agreement, including, but not limited to, monetary damage to the landlord caused by the tenant's breech of lease prior to the expiration thereof.
Most Landlord and Tenant Disputes in Florida are over Security Deposits
Most landlord and tenant disputes, in Florida, are over security deposits. And that’s usually because, the landlord failed to comply with Section 83.49 of the
Florida Residential Landlord And Tenant Act, by not knowing how to:
1. Collect security deposits from tenants.
2. Hold tenants' security deposits in a Florida banking institution.
3. Notify tenants as to the name and location of the banking institution, in Florida, where their security deposit is being held.
4. Tell the difference between damage caused by fair wear and tear, and damage caused by tenant neglect.
5. Document damages caused by tenant neglect, so you’ll have verifiable proof, that’ll stand up in court.
6. Document the cost to repair damages, caused by tenants’ neglect, so you’ll have verifiable proof that the repairs were completed.
7. Process security deposit claims and refunds, within the statutory time limits.
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Don't Deduct Damage Caused by Fair Wear and Tear
Although the term, “fair wear and tear,” or FWT, isn’t included in the Florida Residential Landlord And Tenant Act, it’s generally defined as: A natural deterioration that occurs over time, and under normal conditions. And landlords shouldn’t deduct the cost of damages from security deposits, which are caused by normal fair wear and tear, from tenants’ daily use of the rental property. The same holds true for the cost of damages, which are the ordinary results of natural forces, such as sunlight, that can cause warping, shrinkage, fading and cracking. Here are ten examples of the types of damages, which are usually the result of normal fair wear and tear, and shouldn’t be deducted from tenants’ security deposits:
1. Peeling, faded and discolored paint.
2. Rusty, stained and faded plumbing fixtures.
3. Worn carpets and floor coverings.
4. Loose and missing tile grout.
5. Discolored floor coverings and faded carpets.
6. Discolored or faded curtains, shades and blinds.
7. Worn appliances.
8. Minor holes, spots, cracks and dents.
9. Cracks caused by settling.
10. Faded and discolored wallpaper.
Chapter eight of The Florida Landlord's Manual, contains detailed guidelines, which outline exactly, how to collect, hold, and refund tenants' security deposits, so you don’t end up getting sued by a former tenant, over a botched security deposit claim.