Re: Maintenance on Mobile Homes - Landlord Forum thread 326081

Re: Maintenance on Mobile Homes by Shaun (Fl) on October 21, 2014 @14:03

According to Sec. 83 of the Florida Statutes, you have to keep the security deposit in a separate account and either it has to be non-interest bearing, or if it is interest-bearing, you have to give them 75% of the interest, or a 5% return, at your discretion. But I wouldn't know that, would I?

1.Not if your lease states that no interest will be paid.
2. Business accounts (and many personal) do not pay interest until $$$$ is in the account. Your single security deposit will not amount to enough to generate interest. Right now interest is less than 1%... your are talking about writing a check for pennies....Hence why I have it in my lease no interest will be paid. The printed check would cost more than the interest.

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Re: Maintenance on Mobile Homes by John Farmer (Florida) on October 21, 2014 @14:09	[ Reply ]

I was just using this as an example to show that I do know about the laws (a good portion of them anyway). I know it's basically a non-issue You cannot write anything in a lease that will override the statutes. I don't have to be an experienced landlord to know that. Unless it states that in the statutes.

Re: Maintenance on Mobile Homes by Shaun (Fl) on October 21, 2014 @15:09	[ Reply ]

You cannot write anything in a lease that will override the statutes. Read statutes carefully... some FL are optional. Such as paying interest. I have it in my lease that I will not pay interest. My attorney is the one that told me to put in there b/c of the account the SD are in. Early Termination clause. LL does not have to offer an Early Termination Option. I happen to. As for Security Deposits. There is FL Case law against having security deposit (SD) in a separate account. In that case, the SD was NOT in the LL's personal account. In other words he did not co-mingle personal $$ with rental $$. And accounts had more than enough $$ to pay / refund SD.