Florida lease early termination clause
What is an early termination clause in Florida residential lease? If you’re and agent reading this, you need a new broker. If you’re a customer reading this, you need a new broker. Call me, Chris, at 561.626.8550. So, should we agree to an early termination fee? The paragraph at the end of the STANDARD contract looks like this…
Early Termination Fee/Liquidated Damages Addendum
[ ] I agree, as provided in the rental agreement, to pay $ ____________ (an amount that does not exceed two months rent) as liquidated damages or an early termination fee if I elect to terminate the rental agreement and the landlord waives the right to seek additional rent beyond the month in which the landlord retakes possession.
[ ] I do not agree to liquidated damages or an early termination fee, and I acknowledge that the landlord may seek damages as provided by law.
Early termination fee means any charge, fee, or forfeiture that is provided for in a written rental agreement and is assessed to a tenant when a tenant elects to terminate the rental agreement, as provided in the agreement, and vacates a dwelling unit before the end of the rental agreement.
IF the Owner and the Tenant do agree to an early termination fee then be advised that this early termination fee does NOT include the following items which the Landlord MAY attempt to collect, aka sue for:
(a) Unpaid rent and other accrued charges through the end of the month in which the landlord retakes possession of the dwelling unit.
(b) Charges for damages to the dwelling unit.
(c) Charges associated with a rental agreement settlement, release, buyout, or accord and satisfaction agreement.
If the Landlord/Tenant do NOT agree to an early termination fee then what are the “damages as provided by law” that the Landlord may seek?
First, the Landlord must exercise good faith in attempting the re-lease the property. They must take steps to minimize the amount they are collecting. However they may seek:
Missed rental payments.
Any difference between the amount due for the balance of the rental term and the amount realized by the Landlord for that period.
Any fee to re-lease the property. This is typically one months rent with 1/2 to the listing agent and 1/2 to the agent who represents the Tenant.
Any utility expenses which were the responsibility of the Tenant during the time the unit was vacant.
Legal expenses incurred in collecting any amounts due.
Let’s say the rent was $1000/month with 9 months to go. The Tenant was responsible for paying the water ($50/month) and electric ($100/month)
The Landlord hires a Realtor to re-lease the property and after 2 months vacant finds a tenant to move in at a new 1 year term at $950/mo.
The Landlord could seek 1) Legal Fees. 2) Court filing costs. 3) $2000 for the 2 months the unit was vacant. 4) $950 (1 months rent) paid to the Realtor(s) for a re-lease fee. 5) $350 for the 7 months at $50/month less rent for the $950/ vs $1000/month rent 6) $300 for the 2 months of utilities.
After Entry
For over twenty years now R& R Realty has been helping customers buy and sell Palm Beach homes. Northern Palm Beach County is a spectacular place to live and we know every inch of it. Generally considered the end of the sub tropical zone, the Gulf Steam waters temper our climate for warm winters making for an amazing life style filled with boats, beaches, shoping, golf & convenience just 15 minutes from the Palm Beach Airport. Feel free to browse our website for more information on Palm Beach homes for sale and real estate listings including great local neighborhood maps of Juno Beach, Jupiter, Palm Beach Gardens, Singer Island and Jupiter Island. You may choose to search for Palm Beach Homes for sale on your own at first or contact us and we will help tailor a search to your specific needs. We look forward to hearing from you! If you have any questions about property for sale in Palm Beach, please call me, Chris Ryder, the owner, directly on my cell phone at (561) 818-3858.
About Chris Ryder
I am the Broker/owner of R&R Realty In Juno Beach Florida.
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Nicole Ryder is amazing. Her expertise and knowledge in real estate shines through in many ways. Nicole knows the market, is extremely responsive, knows exactly what listings to present, and an exceptional communicator! Nicole has done an outstanding job at answering all my questions (and I’ve had a lot), keeping us informed of market changes and proactive in bringing us new ideas and listings. Highly recommend, Nicole Ryder. Can’t ask for a better experience. 10/10 ⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️
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2023-10-09
I highly recommend R & R Realty. Chris worked with me to over a period of years to find what I wanted. He always responded quickly to my phone calls or texts. Chris always pointed out all the positives of a property but also possible negatives or things I hadn't thought of. It was a pleasure working with him.
Chris and Nicole Ryder are true professionals! They both helped my husband and I find our apartment when we were new to South Florida and were an excellent source of information about the Palm Beach Gardens/Juno Beach/Jupiter area. When we decided to buy a property two years later, we came back to R&R Realty without hesitation. Chris patiently worked with us for many months as we slowly but surely developed a sense of what we wanted. He went above and beyond, giving us not only real estate advice but also engineering tips and personal recommendations. We ultimately found a house we love thanks to Chris's diligence and tireless efforts on our behalf. I can't recommend R&R Realty highly enough!
Chris Ryder was a fantastic realtor! Thorough start to finish! Helped us buy our first property here 8 years ago sold it for us and helped us buy a second. Will most definitely be calling him again in the future.
Nicole Ryder (and Chris) provided excellent service throughout entire process of listing and selling condo in Juno Beach. Nicole was very helpful and always acted in our best interest re listing details, setting viewing appointments, responding to offers and assisting with closing requirements. We most appreciated their local knowledge and support re Florida real estate transaction requirements being non Florida residents. (Canada) We would highly recommend R&R Realty!
Chris is the very best realtor I have ever worked with anywhere in the country, by a long shot! Being from out of state, he spent countless hours previewing property, had a clear understanding what I was looking for, has the knowledge of an engineer/architect in evaluating structures plus is very familiar with the area. He is very patient, and never "sells" A true rare professional.
I have used R&R Realty, The house Cris found for us is amazing. Cris definitely knows his business. No fooling around and gets the job done. I would definitely use Cris for further purchase. Thanks,Hugh
If you're looking for an exceptional, results oriented, knowledgeable, one of a kind real estate agent that delivers on all accounts then Chris Ryder of R & R Realty in Juno Beach, Florida is your go to resource for all things real estate on the Treasure Coast. From a structural engineering background and to an understanding of Florida real estate law to a hands on knowledge of market trends and property values Chris has the answer. Whether your interest is in selling or buying a condo, town house, private home, penthouse or anything in between, Chris can get the job done. In our case he worked his magic in securing the purchase of our condo in Juno Beach which was a difficult, complex transaction involving a short sale along with the added complication of an estate sale. His unique combination of abilities and skills coupled with his experience resulted in a successful transaction which benefited all parties. You won't be disappointed.
Ronald Johanson
2016-07-08
It has been a pleasure to work with Chris to identify investment properties
in Palm Beach County.
Charles Braznell
2016-07-07
Chris Ryder has helped us tremendously with our search for a vacation home. Highly recommend R&R Realty.
Vincent Lauletta
2016-06-30
Florida Association Realtors
- Long-Term Rates at Lowest Level Since Feb. 2023 September 12, 2024
The average rate on 30-year mortgages fell to 6.20% from 6.35% last week. A year ago, it was 7.18%. Rates on 15-year mortgages fell to 5.27% from 5.47%.
Falling mortgage rates have pushed the median U.S. housing payment down near its lowest level since January. Pending home sales have yet to improve.
A Fed rate cut, expected in mid-September, could boost the housing market by indirectly lowering mortgage rates. Lower rates could stimulate supply and demand.
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