RENTAL FUNDAMENTALS: What to Address in a Lease?

RENTAL FUNDAMENTALS: What to Address in a Lease?

Takeaway Tuesday

As a Landlord, you are required to maintain specific facilities for your Tenants and are NOT required to maintain others. Unless otherwise addressed in the Lease, a Landlord may not be required to maintain a great number of provisions. It can become a costly mistake to omit specific responsibilities when drafting a lease. This week’s Tuesday Takeaway will focus on what reasonable provisions are not required, and therefore may be the Tenant’s responsibility.

(2)(a) Unless otherwise agreed in writing, in addition to the requirements of subsection (1), the landlord of a dwelling unit other than a single-family home or duplex shall, at all times during the tenancy, make reasonable provisions for:

  1. The extermination of rats, mice, roaches, ants, wood-destroying organisms, and bedbugs. When vacation of the premises is required for sure extermination, the landlord is not liable for damages but shall abate the rent. The tenant must temporarily vacate the premises for a period of time not to exceed 4 days, on 7 days’ written notice, if necessary, for extermination pursuant to this subparagraph.
  2. Locks and keys.
  3. The clean and safe condition of common areas.
  4. Garbage removal and outside receptacles therefor.
  5. Functioning facilities for heat during winter, running water, and hot water.

     (b) Unless otherwise agreed in writing, at the commencement of the tenancy of a single-family home or duplex, the landlord shall install working smoke detection devices. As used in this paragraph, the term “smoke detection device” means an electrical or battery-operated device which detects visible or invisible particles of combustion and which is listed by Underwriters Laboratories, Inc., Factory Mutual Laboratories, Inc., or any other nationally recognized testing laboratory using nationally accepted testing standards.

     (c) Nothing in this part authorizes the tenant to raise a noncompliance by the landlord with this subsection as a defense to an action for possession under s. 83.59.

     (d) This subsection shall not apply to a mobile home owned by a tenant.

     (e) Nothing contained in this subsection prohibits the landlord from providing in the rental agreement that the tenant is obligated to pay costs or charges for garbage removal, water, fuel, or utilities. 

(3) If the duty imposed by this subsection (1) is the same or greater than any duty imposed by subsection (2), the landlord’s duty is determined by subsection (1).

(4) The landlord is not responsible to the tenant under this section for conditions created or caused by the negligent or wrongful act or omission of the tenant, a member of the tenant’s family, or other person on the premises with the tenant’s consent.

The information presented in this “Tuesday Takeaway” is intended for informational purposes only. This information should not be used as legal advice applicable to a specific situation. In addition, our provision of this information to an individual in no way constitutes an attorney-client relationship.

buying a home

When you are looking to make a long-term personal financial investment, buying a home is a great option. Those that own their homes are able to build personal equity and provide a nest egg for their future. This investment also provides property tax deductions.

While there are a lot of benefits of owning a home, there are also risks to consider. This can include a wide variety of legal obstructions associated with title, survey, and loan documents. Considering the potential risks that come along with a life-changing real estate purchase, having legal representation from an experienced Orlando real estate attorney at Nishad Khan P.L. will ensure you are properly protected and represented through the process of buying a home.  These legal experts will provide guidance for individuals ready to purchase real property, whether the transactions are commercial or residential.

 

Here are several benefits to hiring an Orlando real estate attorney.

Benefit #1: Document Review 

When you are in the process of buying property, real estate and complex legal documents need to be reviewed. Your attorney will ensure all necessary and requested elements and requirements are covered and addressed They will oversee mortgage and title documents, as well as ensuring all transfers are legal, binding and in the best interest of their client.

Benefit #2: Negotiations 

When you hire a real estate lawyer in Orlando, homeowners will benefit from negotiations made on their behalf. Real estate and mortgage contracts contain fine print that details both the buyer and seller must agree to. Who will be responsible for paying and completing inspections and property appraisal? Are there environmental or zoning issues? Our lawyers will negotiate with other attorneys, developers, brokers and investors involved on your behalf.

Benefit #3: Laws & Requirements.

An Orlando real estate attorney, will assure that you are getting the legal support you need to obtain the property you are invested in. They are familiar with the state, city and county laws and requirements that are needed when purchasing property in Florida. They can prepare, draft and revise deeds, purchase agreements and financing agreements as the process moves along. They understand the timeframes and dead lines required for every step of the real estate process.

Benefit #4: Create Custom Documents

Your real estate attorney in Orlando will prepare purchase agreements, all closing documents, write titles and help create insurance policies. They will also complete title research to ensure all transactions are handle correctly and in a timely manner.

If you are interested in learning more about how a real estate attorney can help you during a real estate purchase or sale of property in Orlando, contacting Nishad Khan P.L. We will provide you with details and help you understand the value that comes with getting quality and reliable real estate representation.

 

Takeaway Tuesday

As a Landlord, you are required to maintain specific facilities for your Tenants. However, unless otherwise addressed in the Lease, a Landlord may not be required to maintain a great number of provisions. This week’s Tuesday Takeaway will focus on what obligations Florida Statute REQUIRES for Landlord maintenance.

A Landlord shall at ALL TIMES during the Tenancy:

The landlord is NOT required to maintain a mobile home or other structure owned by the tenant. The landlord’s obligations under this subsection may be altered or modified in writing with respect to a single-family home or duplex.

The information presented in this “Tuesday Takeaway” is intended for informational purposes only. This information should not be used as legal advice applicable to a specific situation. In addition, our provision of this information to an individual in no way constitutes an attorney-client relationship.

divorce and home

When going through a divorce, one question to address is: What to do with the family home? Will one of the spouses stay in the home? Will they sell the home and split the proceeds? Hiring an experienced Orlando real estate attorney can help spouses navigate this difficult decision.

What are the options?

Option #1 Both spouses own the family home and they will have to decide if one of them will keep it or if they will sell it.

Option #2 One spouse decides to keep the home and that spouse needs to buy out the other spouses’ share of the property. This may be advantageous if children are involved and the custodial parent would like to keep the home so that they won’t need to change schools or adjust to a new home.

Option #3 Decide to sell a home, There are a few factors that should be considered:

Option #4 Agree to a deferred sale. A deferred sale is when both spouses stay on the home loan, but only one spouse remains living in the home. The home will then be sold at a later date after which the proceeds of the sale will be divided.

How can a real estate attorney help?

Navigating Orlando real estate law can be challenging if one doesn’t possess the proper knowledge. Nishad Khan P.L. are experienced real estate lawyers in Orlando and will help complete all the necessary paperwork when selling a home and will take care of all legal real estate issues that may arise during the transaction.

Entrusting the highly skilled team at Nishad Khan P.L. will ensure that the sale of the family home is done efficiently, leaving one less thing to worry about during the divorce process.

 

 

 

Takeaway Tuesday

What happens if your Landlord passes away during the term of your lease?

This does not mean you receive a free place to live! Typically, you will need to continue to pay rent to the estate. The Personal Representative of the estate will handle the financial affairs of the estate such as collecting rents, signing leases, etc.

Warning: There may be a transition period between the death of the Landlord and the appointment of the Personal Representative. It’s prudent to put the rent into a separate account during this transitional period, or alternatively, you can send the rent to the Landlord’s Attorney (if that information is known).

Remember, the Personal Representative would have the power to enforce the lease just like the original Landlord.  You should also send the same notices you would send to a Landlord if they were alive. Any disputes within the Landlord’s estate are immaterial to your obligations as a tenant. If the Landlord had a trust, the transition would be much smoother and any rental payments would be paid to the Trustee.

The information presented in this “Tuesday Takeaway” is intended for informational purposes only. This information should not be used as legal advice applicable to a specific situation. In addition, our provision of this information to an individual in no way constitutes an attorney-client relationship.

 

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selling real estate

Selling real estate property can be one of the most daunting and nerve-racking actions that a person can perform. The risk and potential profit involved is high, so having sufficient knowledge before moving forward is key. Each state, including Florida have specific laws on what is required by a property owner to disclose when selling a property. Having the right legal representation is important in safeguarding you against any lawsuits or legal ramifications that could possibly manifest down the road.

What to Disclose

Potential problems or liabilities with the property in question must be disclosed. Florida requires homeowners to disclose these issues to potential buyers:

-Asbestos

-Mold

-Lead

-Chinese Drywall

These disclosures can be a written contract or shared verbally. But best practices suggest having it in writing for future references.

Having Legal Protection

It is paramount that you have an experienced lawyer who specializes in these types of hefty transactions to make sure the process goes through smoothly and without any legal issues. Nishad Khan P.L. is a real estate lawyer Orlando, who specializes in Florida real estate transactions and will ensure you get the best deal you possibly can!

 

 

 

Takeaway Tuesday

Make sure you thoroughly complete your listing agreements!

In order to be enforceable, a listing agreement must contain:

The agreement must be signed by all parties on title. You should also make sure you complete every paragraph. If the paragraph doesn’t apply, put “NA” in the blank. If the number is “0”, place a “0”.

An incomplete listing agreement will get you in trouble!

The information presented in this “Tuesday Takeaway” is intended for informational purposes only. This information should not be used as legal advice applicable to a specific situation. In addition, our provision of this information to an individual in no way constitutes an attorney-client relationship.

 tax consequences

For those who are looking to buy a home in Florida, there are a few additional costs to be considered. Personal taxes are greatly impacted with the ownership of real estate in Florida. Like many states, Florida requires that people pay additional taxes and fees when buying a home.

Taxes and fees that come with owning a home in Florida:

Stamp Tax 

In Florida, you will have to pay a stamp tax that is based on the amount of mortgage you take out to finance the property. The state currently charges 35 cents for every 100 dollars in debt you take out to buy a property. For a $300,000 mortgage, this will cost you $1,050 paid at closing of the loan.

Real Estate Taxes 

While property real estate taxes in Florida are more affordable than other parts of the country, it could still cost you several thousand dollars of extra costs per year to be considered. The amount of taxes that you pay can vary based on the property you buy and what county it is located in.

Federal Taxes 

When owning property in Florida, some relief can come from federal income taxes. Mortgage interest, up to a level based on your mortgage balance, and property taxes, up to $10,000 per year, are deductible. If your total deductions are in excess of your standard deduction, you could see a sizable decline in your total tax bill.

When buying a home in Orlando, real estate attorneys Nishad Khan P.L. will be able to provide you with a variety of real estate services and will provide tax-planning assistance. We can help you find ways to minimize your tax liability associated with buying and selling a property, which could save you thousands in extra tax charges.

Tuesday Takeaway

Seller refusing to close on the day of closing? Specific Performance may be the remedy.

Once a party signs a contract they have created obligations which they must follow. One of those obligations is to close if the buyer has satisfied all contingencies. If the seller has refused, the buyer may sue for specific performance which is an action that may force the seller to go through with the closing.

Additionally, the seller would be responsible for the buyer’s attorney fees and costs. The buyer may also place a lis pendens on the property, thereby preventing the seller from selling the property again.

Don’t forget about the listing agent! They would also have a claim against the seller for not going through with the contract.

The information presented in this “Tuesday Takeaway” is intended for informational purposes only. This information should not be used as legal advice applicable to a specific situation. In addition, our provision of this information to an individual in no way constitutes an attorney-client relationship.