St. Pete, Pinellas County · Member since 2017 · 35 posts · 21 votes
Anyone ever accepted a one year lease on your midterm rental? If so, how did you work wear and tear on furniture and household goods, insurance, deposits, and language regarding termination of agreement before agreed-upon end date?. Any insight is greatly appreciated. And any other things to think about are appreciated
We’ve had a one-year lease come up for our mid-term rental in St. Pete.
Furniture Wear: Florida law (83.49) says you can’t deduct for normal wear (like faded upholstery). Do a walk-through with photos and a signed move-in inventory to track conditions. Deduct only for major damage (e.g., broken chairs).
Deposits: For a one-year lease, we charge one month’s rent as a security deposit ($2,000 ish). Pets are a hard no for us, faster furniture damage, but if you allow them I’d add an additional deposit.
Early Termination: We ask for 60 days’ notice and charge a one-month rent penalty.
Other Tips:
• Clear lease: rent, utilities (we include them), no subletting, pet rules.
• Screen tenants: 3x rent income, ask why they want a year-long furnished stay.
Hope some of that helps. Is your mid term in Saint Pete as well? I’ll send you a connect! Would be nice to know other investors in the area.
We’ve had a one-year lease come up for our mid-term rental in St. Pete.
Furniture Wear: Florida law (83.49) says you can’t deduct for normal wear (like faded upholstery). Do a walk-through with photos and a signed move-in inventory to track conditions. Deduct only for major damage (e.g., broken chairs).
Deposits: For a one-year lease, we charge one month’s rent as a security deposit ($2,000 ish). Pets are a hard no for us, faster furniture damage, but if you allow them I’d add an additional deposit.
Early Termination: We ask for 60 days’ notice and charge a one-month rent penalty.
Other Tips:
• Clear lease: rent, utilities (we include them), no subletting, pet rules.
• Screen tenants: 3x rent income, ask why they want a year-long furnished stay.
Hope some of that helps. Is your mid term in Saint Pete as well? I’ll send you a connect! Would be nice to know other investors in the area.
We’ve had a one-year lease come up for our mid-term rental in St. Pete.
Furniture Wear: Florida law (83.49) says you can’t deduct for normal wear (like faded upholstery). Do a walk-through with photos and a signed move-in inventory to track conditions. Deduct only for major damage (e.g., broken chairs).
Deposits: For a one-year lease, we charge one month’s rent as a security deposit ($2,000 ish). Pets are a hard no for us, faster furniture damage, but if you allow them I’d add an additional deposit.
Early Termination: We ask for 60 days’ notice and charge a one-month rent penalty.
Other Tips:
• Clear lease: rent, utilities (we include them), no subletting, pet rules.
• Screen tenants: 3x rent income, ask why they want a year-long furnished stay.
Hope some of that helps. Is your mid term in Saint Pete as well? I’ll send you a connect! Would be nice to know other investors in the area.
Hey Heather — I’ve done 6-7 months long leases on MTRs a few times. Biggest tip: treat it like a furnished long-term rental. Security deposit, detailed move-in and move-out inspection checklist with photos plus videos, and clear lease terms on early termination (we usually require a 30 Notice to vacate and one month’s rent as an early termination fee).
For wear and tear, I set realistic expectations and build in an annual refresh budget—especially for linens and light furniture touch-ups. Also, I always include a clause that furniture must be returned in similar condition, minus normal use.
Definitely worth it if it’s the right tenant. Just screen thoroughly and protect your assets upfront.