If you are a Buy and Hold Investor with Rental Property – Read This.

FloridaRealtors.org just published this. If you are a buy and hold investor, you need to read the whole thing. Here is the snapshot:

FORT LAUDERDALE, Fla. – June 11, 2015 – Question: We rent out a house. After a prior tenant moved out, we spent a few weeks cleaning up and repainting. Over the weekend, someone just moved into the house without permission. I threw him out on his ear, and now I am getting sued. Did I do something wrong? – Stu

Answer: Yes. If you physically removed him, you are lucky he did not call the police to have you arrested. When someone moves into your home, even without permission, you are not allowed to kick that person out without a court order. Nor can you change the locks, turn off utilities or put belongings by the curb. Doing so could leave you liable for injuries or property damage. These same restrictions apply to your guests who overstay their welcome – even if you are also living in the house.

The rest of the article is here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=324373#.VXnlCABoQCw.facebook

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