A landlord and a real estate broker enter into a Florida Exclusive Right to Lease Agreement during the lease of a residential property in Florida State. This agreement offers exclusive rights to the broker to find a tenant within the agreement tenure of no more than 12 months. In addition, 22 sections of the agreement have terms and conditions of the Finders Fee Only Non – Management Agreement. Both the landlord and agent must prepare this agreement together in its entirety as it is legally binding on both as per the Florida Statute. In addition, the landlord must provide information about the requested inputs in the General Information Annexure. The landlord must read section R to understand the tax implications arriving from this lease transaction. The owner must review section 4 of the contract to understand the nature of broker compensation. This lease agreement has various additional terms requiring the attention of the owner. Please review the entire document carefully prior to signing it and entering into an agreement.
Steps to Prepare Florida Exclusive Right to Lease Agreement
Step 1: The Lease Agreement
- Enter date of execution of the agreement.
- Enter name of the broker. You may choose to enter broker’s firm name in addition to the broker’s name.
- Enter name of the property owner.
- Enter the physical address of the property in section 1.
- Enter the minimum and maximum range of acceptable rent along with the amount of acceptable security deposit on the respective lines. The broker uses these amounts as guidelines while identifying a tenant for the owner.
- Select applicable options from a through c under Lease Document Preparation Fee section. The owner has options to select like making a payment of $45 to a broker for preparation of the initial lease, to provide initial lease to broker, or the owner provides leases required by Condominium Assoc. or HOA. The owner must sign before the correct option in acceptance.
- Then provide lock box authorization. The landlord must sign before this option in consent.
- Enter the term of the agreement in number of months in section B. Please understand that the term of this agreement cannot exceed 12 months from the date of execution.
- The owner must sign the lease agreement after entering the date in acceptance.
- The broker or broker’s authorized representative must sign the agreement after entering the date in acceptance.
Step 2: General Information Annexure (to be filled by owner)
- Enter owner’s name.
- Enter owner’s SSN.
- Enter owner’s physical address, including name of the city, state, and zip code.
- Enter owner’s phone numbers.
- Enter owner’s email address.
Continue by providing information about the bank where the owner intends to hold tenant’s security deposit.
- Enter name of the bank.
- Enter the address of the bank.