Sinkhole disclosure to renters?

[Outatime]

Hi All

I hope this is the correct area to post a question like this. I am in a unique position to purchase a home on the same street as me for a very low figure mainly due to the fact that there claims to be a sinkhole nearby or under the home somewhere, this home show no sign at all of any damage (cracks or smaller sinkholes in the yard) and is in perfect condition.

My plan was to purchase this 3bed 2bath property in central Florida and try attract some long term tenants at a fair price to fill it to help pay back when I spent on it.

So my question is do I need to disclose to potential tenants about the sinkhole? I there a law about renting sinkhole homes?

Would really appreciate some feedback, I am not looking to rip anyone off I just have never had a opportunity like this before as would love to own this property as it would maybe give us a nest egg for later on in life.

Thank you for your help and advice

Stu

 

[fredrikklaw]

Absolute Duty of Care!

Yes; you absolutely and positively have to "disclose" to tenants!

There are three categories of people who enter another's land; Invitees, Licensees, and Trespassers. Tenants' presence on your land puts them in the category of Invitees and as landlord your duty of care to invitees is of the highest level and order, meaning that not only you have to exercise reasonable duty of care to keep the property reasonably safe for invitees, you also have to warn and make it be known to them of any "non-obvious" dangers that you have knowledge of, and to make reasonable inspections to discover dangerous conditions and make them safe.

fredrikklaw

 

[Outatime]

Hi fredrikklaw

Thank you very much for your reply and advice, I figured buying a sinkhole home would be too good to be true! Guess I will have to pass on it for now as I don't know what else I could do with it!

Thanks again

Stu

 

[guestposter]

I have been renting a home for 4 years now. We have a sink hole and the whole house is under-construction, we can't use our pool, driveway, my kids can't go outside. I have asked the landlord to allow us to move to a hotel during this process and credit the rent. So far nothing. What are my rights.