Re: offer for tenant to buy out of lease

Re: offer for tenant to buy out of lease by MrDan (Georgia) on June 21, 2012 @01:05

You should be aware of Floridas' new 'Early Termination' law as to the correct procedures in doing so. Many landlords are unaware of the new law and have found out the hard way.

Florida Statute 83.595 (4)

Section 4 of 83.595 reads as follows:(4) Charge liquidated damages, as provided in the rental agreement, or an early termination fee to the tenant if the landlord and tenant have agreed to liquidated damages or an early termination fee, if the amount does not exceed 2 months’ rent, and if, in the case of an early termination fee, the tenant is required to give no more than 60 days’ notice, as provided in the rental agreement, prior to the proposed date of early termination. This remedy is available only if the tenant and the landlord, at the time the rental agreement was made, indicated acceptance of liquidated damages or an early termination fee. The tenant must indicate acceptance of liquidated damages or an early termination fee by signing a separate addendum to the rental agreement containing the provision.

The new law is a bit confusing, but is the result of a class action lawsuit.

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