Guide to Renting a Condo in Miami

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Guide to Renting a Condo in Miami

For those who have never rented an condo in Miami, the process may seem intimidating at first. With the right real estate agent to help you every step of the way, it’s actually quite simple.

In Miami, Florida we have different procedures and requirements for renting an property.

Below you will find commonly asked questions regarding renting a property in Miami, Florida.

FAQ – Commonly Asked Questions

1. Do I need a Real Estate agent to rent in Miami, Florida?

YES. Real Estate agents have access to all the apartments for rent in Miami, Florida through the Multiple Listing Service known as the MLS provided by the Miami Association of Realtors. Only Realtors have access to this platform.

Seeking the help of a real estate agent to find you an apartment in Miami, Florida will cost you nothing.

2. Who covers the Real Estate commission in Miami, Florida?

Unlinke New York and many other states, in Miami, Florida the Real Estate commission is paid by the landlord.

The tenant does not have to pay a commission to the Realtor.

3. How does payment work when renting a condo in Miami?

When leasing a condo in Miami, first and last months’ rent are paid upfront, plus a security deposit equal to one month’s rent.

Keep in mind that some apartment buildings may have lower deposit requirements, however, the landlord may still ask for one month’s rent.

4. What are the documents that I should have prepared when making an offer to lease a condo in Miami, Florida?

  1. A written offer prepared by your Real Estate agent, in this case us.
  2. Photo I.D.
  3. Proof of funds.
  4. 3 most recent paystubs or a bank statement.
  5. Most recent credit report with the credit score.

Some landlords decide to go through their own approval process prior to the Association approval process. This is carried out first to see if they will agree to Lease you their property.

5. How long does it take to get condo association approval?

The process may take from 5 to 10 business days.

Condo buildings usually use a third party company like www.TenantEvaluation.com to access the applicant’s information such as a background and credit check, employment verification, etc. needed in order to make an informed decision.

6. When you rent a Miami condo, who pays monthly condo association fees?

In Miami, Florida the monthly maintenance fees are paid in full by the landlord.

Among the utilities covered include water, sewage, and trash removal. In newer buildings, the condo dues may also cover services like cable TV and internet.

Most of the time electricity is covered by the tenant.

7. Is it possible to sublease a rented condo in Miami?

Unfortunately subleasing through AirBnb and other short term rental services is not permitted in most condo building in Miami, Florida.

Tenants should first ask the buildings’ management office and the landlord if their intention is to sublease.

8. What should I keep my eyes open for during a walkthrough?

Your Real Estate agent will assist you in this process, but be on the lookout for:

  • Cleanliness of the unit,
  • Any damages that have not been reported,
  • Fully functional appliances.

Remember to take photos and videos the day of the walkthough or when taking possession of the condo to document the condition. You can email the photos and video to the landlord so there is a record.

9. When will I receive my security deposit back from the landlord?

According to Florida law, the landlord has a total of 15 days to return your deposit if there are no damages.

If the landlord decides to claim for damages, a written notice must be provided to the tenant by certified mail along with the landlord’s reason for writing the claim.

If the tenant does not dispute the claim within the 15 day period of receiving the notice, the landlord must return the balance of the security deposit within 30 days after the notice was received.

10. After the expiration date of the lease, what should I do to get my deposit back?

Make sure you reference your lease. The standard Florida lease allows for normal wear and tear when it comes to renting a condo in Florida.

If the lease was drafted by the landlord’s attorney, different stipulations may be involved. It sometimes occurs that landlords demand the property to be in the same or as close to the same condition as it was when the lease began and the tenant took possession.

11. How long does it take to get back the condo association security deposit?

1 to 2 weeks is the normal time frame after moving out of the building and contacting the building’s management office via email to formally request in writing the return of your condo association security deposit.

12. What about breaking a lease if you’re renting?

Breaking a lease is not recommended as it may cause financial harm to the landlord. It’s recommended to give previous notice so the landlord can prepare in time to find a new tenant. Do good, and good things will come to you.

Also, make sure the lease does not have the “2-month penalty” check-box checked. 

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