Serving as a member of the military as well as a landlord can get complicated. So we spoke with attorney Robert Jameson of Woolsey Morcom about three things military property owners need to be careful about when leasing their property.
1. Get a proper rental agreement in place.
A legal rental agreement is critical to ensure that all parties are aware of their duties and that your rental agreement meets Florida law. You can obtain a rental agreement through an attorney or a reputable property management company.
2. Get the right type of homeowners insurance.
As a military homeowner, you want to ensure that there are provisions within your homeowners insurance policy that cover you in case the property gets damaged. Additionally, if there’s a break in the lease agreement, you want to be fully aware of any potential coverage issues that may exist as a result of being a military homeowner.
3. Work with a reputable property management company.
Life in the military means deployments around the world. The last thing you want is for something to happen at your property and your tenant not able to reach you. In the event of an emergency, you want your tenant to have a point of contact to whom they can report the issue. Having a property management company will save you a lot of time, money, and frustration in the long run.