What this form is for
This form establishes the legal rental agreement between a property owner (landlord) and a tenant for residential property in Florida. Use it when leasing out rental units you own to document terms, protect your income stream, and demonstrate stable cash flow to lenders.
Before you start
- Property address, legal description, and total square footage of the rental unit
- Monthly rent amount, security deposit amount, and lease start and end dates
- Tenant's full legal name, current address, phone number, and email
- Florida-required disclosures including radon gas notice and lead paint disclosure (if built before 1978)
- Details on who pays utilities, lawn maintenance, and homeowner association fees
Step-by-step
1. Fill in the date of the agreement and the full legal names and addresses of all landlords and all adult tenants who will occupy the property.
2. Enter the complete property address and describe the premises, including any parking spaces, storage units, or other included amenities.
3. Specify the lease term with exact start and end dates. Florida allows any length, but most lenders prefer 12-month terms for income stability documentation.
4. State the monthly rent amount in both numbers and words, the due date each month (typically the first), and acceptable payment methods. Include late fee terms, which in Florida cannot exceed the greater of 5 percent of rent or $25.
5. Document the security deposit amount. Florida law requires you to specify whether you will hold it in an interest-bearing or non-interest-bearing account and provide the bank name and address within 30 days.
6. Complete the section on utilities and maintenance responsibilities, clearly dividing which party pays for water, electricity, gas, trash, pest control, and yard work.
7. Fill in Florida-specific addenda including the radon gas warning statement and any homeowner association rules that tenants must follow.
8. Add any special conditions such as pet policies (with additional deposits), smoking restrictions, or occupancy limits.
9. Both parties must sign and date in the presence of witnesses if the lease exceeds one year, as Florida requires notarization for leases longer than 12 months.
What lenders look for
- Banks want signed leases to verify rental income on loan applications. Ensure tenant signatures are complete and dates are current within 90 days of your loan submission.
- Underwriters calculate qualifying income at 75 percent of gross rent to account for vacancies and maintenance. Do not inflate rent above market comparables, as appraisers will verify.
- Avoid month-to-month leases when seeking financing. Fixed-term agreements demonstrate stable, predictable income that strengthens your debt-to-income ratio and cash flow projections.