Real Estate Rental in the USA: A Complete Guide to Rules, Terms, and Conditions (Florida and New York)

Renting real estate in the USA is a complex process regulated both at the federal and state levels. Each region has its own laws defining the rights of tenants and landlords, rental terms, deposits, tax obligations, and other nuances. In this article, we will explore real estate rental in the USA, with a particular focus on the states of New York and Florida.

1. Types of Real Estate Rental in the USA

Before signing a rental agreement, it is important to understand the different types of rental:

• Short-term rental — from a few days to 6 months, popular among tourists and business travelers. These properties are usually listed on platforms like Airbnb, Vrbo, or others.
• Long-term rental — rental for a period of 6 months to several years, with an official contract.
• Commercial lease — rental for business purposes, including offices, stores, warehouses, and industrial spaces.
• Sublease — the ability of a tenant to rent out the property to a third party (requires the owner's permission).

2. Rental Terms and Minimum Requirements

In New York and Florida, rental is regulated by local laws:

• In New York, most rental contracts are signed for 12 months, but agreements for 6, 18, or 24 months are also possible.
• In Florida, flexible rental terms are more common, including monthly and semi-annual rentals, especially in tourist areas.

Minimum tenant requirements:

• Verified income (typically 3-4 times the monthly rent).
• Good credit history (FICO score 650+).
• Guarantor (cosigner), if the income is below requirements or the credit history is weak.
• Security deposit (usually 1 to 2 months' rent).

3. Rental Costs in New York and Florida

Rental prices vary depending on the city, neighborhood, and type of property.

Average rental prices (2024):

In Florida, rental prices are significantly lower than in New York, but in tourist areas (Miami, Orlando), prices may be higher.

4. Additional Costs

In addition to rent, other expenses should be considered:

• Security deposit — from 1 to 3 months' rent.
• Utilities — in most cases, paid separately (electricity, water, gas, internet).
• Realtor fees — in New York, usually 1 month’s rent, while in Florida, the landlord usually pays.
• Renter’s insurance — from $150 to $300 per year (optional but recommended).
• Registration fees — in some condominiums, tenant registration is required (from $100 to $500).

5. Lease Agreement: Key Terms

When signing a lease agreement, pay attention to:

1. Lease Term – typically 12 months with an option to extend.
2. Extension Terms – fixed amount or market adjustment.
3. Early Termination Rules – penalties and mandatory notice period (30–60 days).
4. Deposit Return Policy – conditions for refund and possible deductions.
5. Maintenance Responsibility – who pays for and performs maintenance.
6. Pet Policy – possible additional charges.

In Florida, the lease agreement may be notarized, but this is not a mandatory requirement.

6. State Fees and Taxes

• In New York, there is a rental tax for short-term rentals (less than 30 days) – about 5.875%.
• In Florida, property owners are required to pay a tourist tax (6% – 7%) for short-term rentals (up to 6 months).
• Long-term leases are usually exempt from taxes for tenants.

7. Tenant Rights and Responsibilities

Tenant Rights:

✔ Live in safe conditions (the housing must meet safety standards).
✔ Receive notice of rent increase at least 30–90 days (depending on the agreement).
✔ Request repairs at the landlord's expense (if the damage is not caused by the tenant's actions).
✔ Prevent unwarranted inspections by the landlord (inspections are only possible with notice).

Tenant Responsibilities:

❌ Pay rent on time.
❌ Keep the property clean and in good condition.
❌ Not violate the terms of the lease (e.g., not sublet without permission).

8. How to Protect Yourself from Fraud in Rental Agreements

• Check the owner through tax and property registers.
• Do not transfer money without signing a contract.
• If the landlord requires cash payments without receipts, this is a warning sign.
• Use official websites to search for housing (Zillow, Realtor, Apartments.com).

Conclusion

Renting property in New York and Florida has its own features, from prices and deposits to taxes and legal aspects. New York offers high prices and strict rules but more tenant protections. Florida provides more flexible lease conditions and more affordable housing.

If you need legal advice on leasing, our team of professional lawyers can help you navigate the details of the agreement, verify the landlord, and protect your interests. Contact us, and we will ensure a safe lease with no risks or losses!