Florida Real Estate Broker ExaminationReal Estate Brokerage ManagementMedium
A Florida real estate broker is managing a residential property and holds a security deposit of $1,500. The lease term has ended, and the tenant has vacated the property, leaving it in good condition with no damages beyond normal wear and tear. What is the broker's deadline to return the security deposit to the tenant, assuming no claim for damages is made?
- AWithin 45 days of the tenant vacating the premises.
- BWithin 30 days of the tenant vacating the premises.
- CWithin 15 days of the tenant vacating the premises.
- DWithin 7 days of the tenant vacating the premises.
Show answer & explanationAnswer & explanation
Correct answer: C. Within 15 days of the tenant vacating the premises.
Under Florida Statute 83.49, if the landlord (or their agent, the property manager/broker) does not intend to make a claim on the security deposit, they have 15 days to return the deposit to the tenant after the tenant vacates the premises.
Why the other options are wrong
- A. This option is incorrect; 45 days is not a standard deadline for security deposits in Florida.
- B. This option is incorrect; 30 days is the deadline for sending a written notice of intent to impose a claim on the deposit.
- D. This option is incorrect; 7 days is too short for the required timeframe.
Security Deposit Return Deadline (No Claim)
In Florida, if a landlord (or broker managing the property) does not intend to make a claim on the security deposit, they must return the full amount to the tenant within 15 days after the tenant vacates the premises.
- Applies when no damages or claims are asserted.
- Specific statutory deadline: 15 days.
- Must be returned to the tenant's last known address.
Memory trick: No claim, 15 days, deposit's gone, tenant says 'hooray!'