Key Takeaways
- Call your insurance agent before you list, because a standard homeowners policy may not respond the way you expect once a tenant lives in the house.
- Read your association’s rental rules first, since approval steps and minimum lease terms can push back your move-in date.
- Photograph every room on move-in day, because dated images are your strongest support if you later withhold part of a deposit.
- Write your screening criteria down before the first showing and apply them to every applicant the same way.
This first time landlord checklist puts the work in order for Fort Myers owners, from insurance and association rules to lease terms, repairs, storm planning, screening and records.
We at Keyrenter Fort Myers built the sequence around what a new owner needs settled before a listing goes live. It is general information, not legal, tax or insurance advice.
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Landlord Insurance vs Homeowners Coverage
Ask your agent how your policy treats a rental. Standard homeowners policies are written for owner-occupied homes, and many carriers want a landlord or dwelling policy once a tenant moves in.
Price flood coverage separately. Flood damage generally sits outside both policy types. Hurricane Ian made that gap hard to ignore in Lee County.
Require renters insurance in the lease. Your policy covers your building, not your tenant’s belongings.
Check Your HOA or Condo Association Rules
Request the declaration, bylaws and current rules. Some associations restrict leasing, set minimum lease lengths, cap the number of rentals, or require an application and fee.
Ask how long approval takes before you list. Many associations require approval before move-in, so a slow review means vacant weeks while you still pay the mortgage.
Learn who answers for violations. The association usually bills the owner, even when the tenant causes the violation.
Review Florida Lease and Security Deposit Basics
Florida preempts local landlord-tenant ordinances under HB 1417, so the same Chapter 83, Part II rules apply in Fort Myers, Cape Coral and Lehigh Acres.
Use a written lease. Spell out the due date, late charge, pet terms, lawn and pest responsibility, and storm procedures. Also look at the end date. Leases that expire in July or August tend to lease slower than those timed for the winter season.
Send the deposit notice. Florida requires written notice within 30 days of receiving the deposit, telling the tenant where it is held.
Add the flood disclosure. Florida now requires a flood disclosure in residential leases under SB 948. Confirm the current form and the lease terms it covers with a Florida attorney. Add lead paint disclosure for homes built before 1978. This is a federal requirement.
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Renting Out Your House Checklist: Repairs and Move-In Photos
Service the air conditioning and fix every leak. A failed unit in July is urgent for any tenant, and a service record shows you maintained it. Test smoke detectors, rekey the locks and check exterior lighting. These are small costs with real liability attached.
Photograph and video every room, then complete a signed move-in inspection. Dated images back up any later deposit claim.
Our leasing process includes a move-in inspection, and once a tenant is in place we run semiannual interior and exterior inspections with monthly inspection reports.
Prepare a Hurricane and Flood Plan for Your Tenant
Hurricane season runs June 1 to November 30, and a first-time landlord is rarely on site when a storm is forecast.
Look up the home’s flood zone and evacuation zone. FEMA publishes flood maps, and Lee County Emergency Management lets you search evacuation zones by address. Give both to your tenant.
Write a one-page storm plan. Cover who installs shutters, who secures patio furniture, how the tenant reaches you, and what happens to rent if the home becomes unlivable. Have an attorney review that last point.
Decide Your Tenant Screening Criteria in Writing
Set the standards before you list. Write down the income-to-rent ratio, credit expectations, rental history, eviction history, background review and pet policy.
The federal Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, disability and familial status. Assistance animals are not pets.
Our screening covers credit, background, employment and income verification, rental history and eviction history. If you screen yourself, match that depth.
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Set Up a Business Account and Tax Records
Open a separate account for rent, expenses and deposits. Commingled money makes bookkeeping and deposit accounting messy.
Save every receipt and invoice. Insurance, association dues, repairs and mortgage interest all belong in one folder.
Talk to a CPA before the first rent check. Renting can affect how rental income is reported, how depreciation works, and whether you keep the home-sale exclusion if you once lived there.
When a Property Manager Helps
A manager earns the fee when you live out of town, own a home in an association with a slow approval process, or don’t want to field a repair call at 11 p.m.
Our licensed leasing agents handle every showing, we market across 50+ online platforms, and we pay up to $1,000 in eviction costs on a tenant we placed. Our free rental analysis also shows what your property could earn before you commit to anything.
Conclusion
A first rental goes well when the paperwork is finished before the listing is. Coverage that matches how the house is used, association approval in hand, a lease that follows Chapter 83, a documented property and a written storm plan all sit upstream of the first showing.
Keyrenter Fort Myers helps owners in Fort Myers and across Lee County turn a house they didn’t plan to rent into a managed rental. Request your free rental analysis and see what your home could earn and the right price to list at.
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Frequently Asked Questions
Does Landlord Insurance Cover Flood Damage?
Generally no. Flood is treated as a separate peril, and neither a homeowners policy nor a landlord policy typically pays for rising water. Owners usually buy flood coverage through the National Flood Insurance Program or a private insurer.
NFIP policies commonly carry a 30-day waiting period before coverage starts, so buying the week a storm forms is too late. Ask your agent about flood coverage for the building, then confirm what your tenant’s renters policy covers for their own belongings.
How Long Do I Have to Return a Security Deposit in Florida?
If you have no claim against the deposit, Florida law gives you 15 days after the tenant vacates to return it. If you plan to keep any part, you must send written notice of the claim by certified mail within 30 days.
The tenant then has 15 days to object. Missing these deadlines can cost you the right to keep the money, so calendar both dates at move-out and keep your inspection photos with the file.
Do I Owe Taxes on Rent From My Former Home?
Rental income is generally taxable, and most individual owners report it on Schedule E with their federal return. You can usually deduct ordinary expenses such as repairs, insurance, association dues and mortgage interest, and you may also claim depreciation on the building.
Rules differ if you lived in the home before renting it, particularly when you later sell. Keep clean records from the first month and have a CPA review your situation.
When Is the Best Time of Year to Start a Lease in Fort Myers?
The strongest leasing window runs roughly November through April, when seasonal residents, relocations and new arrivals are looking. Summer is slower and more price-sensitive, and leases that expire in July or August tend to lease slower than leases timed for winter.
Work backward from that window when you set a lease length. Keep hurricane season, June 1 through November 30, in mind when scheduling repairs and move-ins.
What Happens If a Tenant Stops Paying Rent in Florida?
The process starts with a written 3-day notice to pay or vacate, which excludes weekends and legal holidays. If the tenant neither pays nor leaves, the landlord files an eviction action in county court.
Only a court order and the sheriff can remove a tenant, so changing locks or shutting off utilities is not an option. With Keyrenter Fort Myers, our eviction cost coverage pays up to $1,000 on a tenant we placed.