A property manager discovers that a tenant has been operating an unauthorized business from their residential rental unit in violation of the lease terms. The property manager wants to terminate the tenancy. What type of notice must be served?
Correct Answer
B) 7-day notice to cure or quit
Correct: For lease violations other than non-payment of rent (like unauthorized business use), Florida law requires a 7-day notice to cure or quit, giving the tenant opportunity to correct the violation. Why not A: 3-day notice is specifically for non-payment of rent. Why not C: 15-day notice is not a standard Florida eviction notice period. Why not D: 30-day notice is for terminating periodic tenancies without cause.
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A Florida property manager holds security deposits totaling $45,000 in a non-interest bearing account. If Florida law requires maintaining these funds in an interest-bearing account paying at least 1.5% annually, how much additional interest should have been earned for the property owners in one year?