Florida.
My tenant broke the lease leaving in the middle of the one year term. He has signed the standard Early Termination Fee addendum in FL choosing the first option with the two month rent fee as liquidated damages. My question is can I include the two month fee plus the addition expenses I had to repair the property in my notice to him, which notifies him of my intention to keep part of his deposit? With other words, can I apply his security deposit towards the Early Termination Fee, and can I add to this amount all my repair costs that are beyond ordinary wear and tear?
You could do many things.
Before arbitrarily taking the security deposit, it might be advisable to discuss the entire event with your attorney.
I'm sure you're familiar with the process, but it never hurts to review.
In your state according to the law, a landlord must return the tenant's security deposit within 15 to 60 days after the tenant has surrendered the rental property to the landlord (that is, returned the keys and vacated the property), depending on whether the tenant disputes any deductions taken out of the security deposit.
All Florida landlords must provide their tenant advance notice of any deductions they plan to retain from the deposit.
You, as a Florida landlord are required to, within 30 days of receiving a tenant's security deposit, disclose in writing
if the funds will be held in an interest, or non-interest bearing account
you are to disclose (as in name the account depository)
plus provide the rate and time of interest payments.
Landlords who collect security deposits are ordered to include a copy of Florida Statutes § 83.49(3) in the actual lease.
So far, so good? Great, we continue with a brief review:
In Florida any landlord who collects a deposit from their tenant, must pay to the tenant any interest earned on the security deposit (annually and at the end of the tenancy).
No interest need be paid to a tenant who wrongfully terminates the lease early.
But, make sure you have done the aforementioned, because the tenant could assert certain affirmative defenses at trial (if it goes there).
http://securitydepositrefund.org/florida-renters-rights-law.html
I hope that offers you a little insight on which you can make a rational choice.
Good luck...
I always advise my clients, just because you can assert a right, doesn't mean you should.
Its always better to compromise and negotiate than to ever litigate.
