[RPPTL LandTen] Residential Security Deposits

Tue Jun 4 14:50:56 PDT 2013

Section 83.49(2) says:

(2) The landlord shall, within 30 days of receipt of advance rent or a security deposit, notify the tenant in writing of the manner in which the landlord is holding the advance rent or security deposit and the rate of interest, if any, which the tenant is to receive and the time of interest payments to the tenant. Such written notice shall:
(a) Be given in person or by mail to the tenant.
(b) State the name and address of the depository where the advance rent or security deposit is being held, whether the advance rent or security deposit is being held in a separate account for the benefit of the tenant or is commingled with other funds of the landlord, and, if commingled, whether such funds are deposited in an interest-bearing account in a Florida banking institution.
(c) Include a copy of the provisions of subsection (3).
Subsequent to providing such notice, if the landlord changes the manner or location in which he or she is holding the advance rent or security deposit, he or she shall notify the tenant within 30 days of the change according to the provisions herein set forth. This subsection does not apply to any landlord who rents fewer than five individual dwelling units. Failure to provide this notice shall not be a defense to the payment of rent when due.

Thus I have interpreted the five unit exception to only apply to Subsection 2 of Section 83.49.

Am I reading this incorrectly?

From: Lloyd Granet [mailto:lgranet at granetlaw.com]
Sent: Tuesday, June 04, 2013 5:33 PM
To: Arthur J. Menor
Subject: RE: Residential Security Deposits

I don’t know.  I always assumed that it applied to everything, what would the point be of exempting someone from giving notice if you were still requiring them to put the money into an escrow.

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From: landten-bounces at lists.flabarrpptl.org<mailto:landten-bounces at lists.flabarrpptl.org> [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Arthur J. Menor
Sent: Tuesday, June 04, 2013 5:27 PM
To: 'RPPTL Landlord Tenant Committee'
Subject: Re: [RPPTL LandTen] Residential Security Deposits

Doesn’t the exemption only apply to the duty to give the tenant a notice about the manner in which the deposit is being held?

From: landten-bounces at lists.flabarrpptl.org<mailto:landten-bounces at lists.flabarrpptl.org> [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Lloyd Granet
Sent: Tuesday, June 04, 2013 5:20 PM
To: RPPTL Landlord Tenant Committee
Subject: Re: [RPPTL LandTen] Residential Security Deposits

Not my area but the first question to ask is, is deposit into a separate account required.

There is an exemption for someone who owns less than a give number of units.

This email message was sent by:
_______________________________
Lloyd Granet
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial:  (561) 999-0090
Main Number:  (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet at granetlaw.com<mailto:lgranet at granetlaw.com>

NOTICE:  IRS Circular 230 Disclosure:  In order to ensure compliance with IRS Circular 230, we must inform you that any U.S. tax advice contained in this transmission and any attachments hereto is not intended or written to be used and may not be used by any person for the purpose of (i) avoiding any penalty that may be imposed by the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein.

NOTICE: This communication is: (a) sent by an attorney or his/her agent, (b) confidential, and (c) intended only for the use of the individual or entity to which it is addressed. If the addressee is a client, this communication is also subject to applicable privileges. If you are not the addressee, or the employee or agent responsible for the delivery to the addressee, any dissemination, distribution or copying of this communication is prohibited. If you received this communication in error: (a) any dissemination, distribution or copying is prohibited, and (b) Lloyd Granet, P.A. requests that you immediately notify us at (561) 999-9300 (collect) and destroy this communication. Thank you.
From: landten-bounces at lists.flabarrpptl.org<mailto:landten-bounces at lists.flabarrpptl.org> [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Arthur J. Menor
Sent: Tuesday, June 04, 2013 5:09 PM
To: 'RPPTL Landlord Tenant Committee'
Subject: [RPPTL LandTen] Residential Security Deposits

What is the penalty for a landlord’s failure to place a security deposit in a separate account?

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Arthur J. Menor
Partner
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Shutts & Bowen LLP
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