Florida Real Estate: Should You Rent Back to the Seller After Closing?
Florida Real Estate: Should You Rent Back to the Seller After Closing?
You just bought a Florida home, but the seller needs a few extra weeks to move out.
Should you let them stay and rent it back from you?
Here’s what Florida buyers need to know.
What Is a Rent-Back Agreement?
It’s an arrangement where the seller remains in the home after closing and pays the buyer (you) rent for a set period.
Sometimes called “post-occupancy agreements.”
When Does It Make Sense?
- Seller is building a new home that’s not ready
- Seller needs time to relocate
- You’re not in a rush to move in
Offering a rent-back can strengthen your offer in a competitive market.
What to Include in the Agreement
- Rental Amount
- Daily or monthly rate (often based on your mortgage + taxes + insurance)
- Security Deposit
- Typically held in escrow for potential damages
- Move-Out Date
- Firm deadline with penalties if not met
- Utilities and Maintenance
- Who pays for what during the rent-back?
- Insurance
- Seller should carry renters insurance; buyer should alert homeowner’s insurer
Pros for the Buyer
- Makes your offer more attractive
- Can offset some of your carrying costs
- Allows for a smoother seller transition
Risks to Watch For
- Seller refuses to leave on time
- Damage to the property after closing
- Liability if someone is injured on site
Always put the rent-back in writing and consult a real estate attorney if needed.
Final Thought
A rent-back can be a win-win, but only when the terms are clear and enforceable.
📞 Call Michael Renick at 941.400.8735 to create a safe and fair rent-back strategy after your Florida closing.
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