According to a WTSP News (CBS) Tampa report airing earlier this week, if you are renting a house or condo from a private owner, then YOU could now be liable for any unpaid Homeowners Association (HOA) fees! Why? Because as of July 1, 2010, Florida law now makes it possible for condo or homeowners’ associations to come after you for the unpaid HOA fees that your landlord should have been paying out of your monthly rent. That’s right, even if you are just the tenant renting from the homeowner, these fees can now be your problem. And it could be a big problem, even resulting in your eviction. As the WTSP News story explains, “Letters are already flying out from law firms throughout the Sunshine State threatening thousands of renters with eviction if they don’t start paying their landlord’s fees.”

So how do you know whether your landlord is keeping current? Well, you could certainly ask, and then hope that you receive an honest reply. If you’ve known your landlord to be reliable in the past, then it’s unlikely that you’ll have a problem. Typically, your first clue about any delinquency with HOA fees will arrive in the form of a letter requesting payment. “If you receive one of these letters demanding you pay your landlord’s fees – don’t, I repeat, don’t put the letter in your drawer and expect it to go away. The homeowners association has the ability to evict you for non-payment.” said the WTSP report, and “Your first call should be to your landlord to demand that he/she/it pay the fees within 48 hours.” If you are unsuccessful after contacting your landlord, you do have the right under Florida law to pay the delinquent HOA fees directly yourself, and then deduct that amount from your next rent payment to your landlord.

Unfortunately, if your landlord is delinquent in paying the HOA fees, then it is also possible that your landlord is similarly behind in making the mortgage payments! Thus, even if you pay the overdue HOA fees, you may still find yourself facing eviction by the bank, compounding your problems yet further. The bottom line, according to the WTSP report: “a landlord who fails to pay their homeowner’s fees after repeated warnings from the homeowners association is probably a landlord you want to cut ties with when you can.” Sounds like a good idea to me. For the full WTSP story: http://www.wtsp.com/news/columnist/story.aspx?storyid=140520&catid=79.

RB

A recent article in the Tampa Tribune warned “apartment rents are on the rise”.

http://www2.tbo.com/content/2008/feb/14/bz-apartment-rents-are-on-the-rise/?news-money

The quote from the CEO of a large apartment builder and management company may seem ominous but on closer inspection he is talking about “in three to five years”.

What we are seeing right now and expect for the next year are terrific deals for the renter.

While some apartments are raising the rents slightly they are also offering some incredible incentives to lure immediate renters. We have many communities that are offering one, two and sometimes three months FREE.

Oftentimes they will prorate part or all of the special over the lease term, effectively lowering the monthly rent. The decrease can be dramatic!

For example a $1,000 apartment that is offering 2 months free prorated over a 12 month lease will cost $833 per month. That is a tremendous discount!

So, I’m not sure what will happen in three to five years, but I know right now is a GREAT time to be looking for an apartment.