Florida Lease Law Basics
In Florida, when a rental property changes hands, the new owner inherits the existing lease. Tenants' rights don't disappear at closing — the security deposit transfers to the new owner, and the lease terms continue until expiration or formal termination.
That actually works in your favor as the seller. Cash buyers like us are happy to honor existing leases (or to negotiate cash-for-keys post-closing if vacancy is preferred). You don't have to evict anyone or wait for the lease to end before selling.
Why Homestead Landlords Are Selling
- Insurance premiums on rentals have spiked across South Miami-Dade
- Property tax assessments keep climbing
- Older Homestead rental stock requires more capital each year
- Out-of-state landlords are tired of managing remotely
- Property management fees eat 8–12% of rent
- Eviction timelines in Miami-Dade can stretch 60–120+ days
How a Tenant-Occupied Cash Sale Works
You provide the lease, security deposit info, and rent roll.
We confirm the lease terms and inspect the property (with proper notice to the tenant per Florida law).
We send a written cash offer that accounts for the lease in place.
At closing, the security deposit transfers to us and the lease continues uninterrupted.
After closing, we honor the lease (or negotiate cash-for-keys directly with the tenant).
Tenant Rights to Respect
- Florida law requires reasonable notice (usually 12+ hours) before any inspection or showing
- Security deposits must transfer in full to the new owner
- Existing leases must be honored to expiration
- Tenants on month-to-month require 15-day notice for month-to-month termination by Florida statute (longer if specified in the lease)
- Section 8 tenants' housing authority must be notified of ownership changes
When Cash-for-Keys Makes Sense
If the buyer needs the property vacant — for renovation or owner occupancy — a cash-for-keys agreement (paying the tenant a few thousand dollars to move out voluntarily) is often faster and cheaper than an eviction. We handle this directly with the tenant after closing, so you don't have to.
Ready to offload a Homestead rental? Send us your details for a written cash offer.
Helping Homestead homeowners sell fast.
No repairs. No commissions. Close in days, not months.