Empathy List Archives

RR

RPPTL Real Estate Leasing Committee

Fri, Nov 12, 2021 4:47 PM

I agree with Harry’s thoughts here. I also think it’s rather tone deaf in light of the current housing climate, but that’s a separate issue.

[Logo Description automatically generated]

[Text Description automatically generated with low confidence]
Amanda R. Kison, Esq.
Board Certified Business Litigation
Bentley Goodrich Kison, P.A.
Main: (941) 556-9030
Fax: (941) 312-5316
akison@bgk.law mailto:akison@bgk.law
783 South Orange Ave.
Third Floor
Sarasota, Florida 34236
www.bgk.law http://www.bgk.law/

[Title: Facebook - Description: Facebook icon]http://www.facebook.com/bgk.law

From: landtencl-bounces@lists.flabarrpptl.org landtencl-bounces@lists.flabarrpptl.org On Behalf Of Real Estate Leasing Committee
Sent: Friday, November 12, 2021 11:03 AM
To: landten@lists.flabarrpptl.org; 'RPPTL Landlord Tennant Committee' landtencl@lists.flabarrpptl.org
Cc: 'Trey Goldman' treyg@floridarealtors.org; 'Marcia Tabak' marciat@floridarealtors.org
Subject: Re: [RPPTL LandTenCL] [RPPTL Leasing Committee] LL/T Legislation - HB 537

Legislation such as this is being pushed by the security deposit alternative companies such as Obligo, Rhino, and Assurant. It is already in place in some cities and counties outside of Florida and in some cases, it is mandatory that the landlord must allow an alternative.

The public is very confused by these products and it is a mess. Some are insurance products. Some bonds. Many property managers use the established companies but many want to charge fees in lieu of deposits on their own and they are pocketing the money and in some cases, they charge for example $150 a month in perpetuity, through renewals, instead of a $1000 security deposit upfront. This results in a LARGE profit to the property manager, the property owner has no clue it is going on, and most likely this is an unfair and deceptive trade practice or possibly is “insurance”. The property managers are in essence creating their own insurance product for the $1000. If there is $1000 in loss to the owner, the property manager pays it but pockets the difference collected.

I sent an email about this issue a while back but nobody seemed interested. Here is a helpful article written by a property manager which explains how some work: https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation

Unless this is written up correctly, it could really create a situation where a tenant is taken advantage of all under the guise of helping them not have to pay a large deposit upfront.

The creation of many guarantees, pet damage protection, eviction protection, rent loss protection by the property manager is spreading rapidly due to some loudmouths on social media who have concocted these money making schemes. I contacted the FLOIR (Florida Office of Insurance Regulation) and they told me it is insurance and they wanted me to name names which of course I would not do. The property managers think that is they do not call something “insurance”, then they are in the clear. I see some class actions on the way. There are way too many fees that are not being disclosed until an applicant pays money, gets approved, is bound to sign a lease, and is ready to sign the lease. That is false advertising, bait and switch and no different than the Resort Fee cases which made a lot of lawyers a lot of money.

Harry Heist

CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT
INFO ON CARES COVERED PROPERTY: https://evict.com/?page=cares_act_update
LAW OFFICES OF
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website: www.evict.com http://www.evict.com/
Email: harry@evict.com mailto:harry@evict.com

Dear Leasing Committee:

Trey Goldman from Florida Realtors and the RREIL committee has provided the information below on HB 537: Fees in Lieu of Security Deposits (filed 11/8/21). Also note the information on a similar law that was passed in Texas.

Bill Summary/Link:

“Fees in Lieu of Security Deposits; Authorizes landlord to offer tenant option to pay fee in lieu of security deposit; requires landlord to provide certain written notice to tenant; requires written agreement signed by landlord, or landlord's agent, & tenant if tenant decides to pay fee in lieu of security deposit; requires specified disclosure in written agreement; provides options for paying fee; specifies that fee is not security deposit; requires landlord to offer option to pay fee in lieu of security deposit to all new tenants; provides exception.” https://www.flsenate.gov/Session/Bill/2022/537

I know this will certainly be of interest to the committee. We will monitor this at the committee level but if anyone is of the opinion we need to do more than that or would like to provide feedback to Trey, please do voice your comments.

Thank you

Kristen

Kristen King Jaiven, Esq.

General Counsel

The Signature Real Estate Companies

Ph: 561.705.0140

Direct Line: 561-300-6921

Email: Kristen@quadcompanies.com mailto:Kristen@quadcompanies.com

www.SignatureRealEstateCompanies.com http://www.signaturerealestatecompanies.com/

[Signature Partners]http://mysignaturenetwork.com/

On Thu, Nov 11, 2021 at 8:37 PM Trey Goldman <treyg@floridarealtors.org mailto:treyg@floridarealtors.org> wrote:
Hi Kristen.

Was nice seeing you at the meetings last week.

Here’s the bill I mentioned - https://www.flsenate.gov/Session/Bill/2022/537. The Leasing Committee may totally pass on, and I won’t be offended. Just sharing.

https://www.ky3.com/prnewswire/2021/10/20/texas-new-security-deposit-law-offers-new-opportunity-apartment-owners-managers-renters/

LeaseLockhttps://leaselock.com/?utm_source=google&utm_medium=cpc&utm_campaign=EN_NORAM_US_Brand&utm_content=521967960636&utm_term=leaselock&device=c&gclid=CjwKCAiAm7OMBhAQEiwArvGi3NeTuJgLsLijq_BfPblu9hYNfEckjQPuJgDbvGsya7BgDxahCDnDxRoCYP4QAvD_BwE

The language that passed in Texas is very different than language filed in Florida - https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=SB1783 – but intent is the same.

Let me know if you have any questions.

Trey Goldman

Facebook: http://floridarealtors.org/facebook
Twitter: http://floridarealtors.org/twitter

The Voice for Real Estate in Florida

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca Raton, FL 33487 Email Abuse Reporting: it@quadcompanies.com mailto:it@quadcompanies.com

I agree with Harry’s thoughts here. I also think it’s rather tone deaf in light of the current housing climate, but that’s a separate issue. [Logo Description automatically generated] [Text Description automatically generated with low confidence] Amanda R. Kison, Esq. Board Certified Business Litigation Bentley Goodrich Kison, P.A. Main: (941) 556-9030 Fax: (941) 312-5316 akison@bgk.law<mailto:akison@bgk.law> 783 South Orange Ave. Third Floor Sarasota, Florida 34236 www.bgk.law<http://www.bgk.law/> [Title: Facebook - Description: Facebook icon]<http://www.facebook.com/bgk.law> From: landtencl-bounces@lists.flabarrpptl.org <landtencl-bounces@lists.flabarrpptl.org> On Behalf Of Real Estate Leasing Committee Sent: Friday, November 12, 2021 11:03 AM To: landten@lists.flabarrpptl.org; 'RPPTL Landlord Tennant Committee' <landtencl@lists.flabarrpptl.org> Cc: 'Trey Goldman' <treyg@floridarealtors.org>; 'Marcia Tabak' <marciat@floridarealtors.org> Subject: Re: [RPPTL LandTenCL] [RPPTL Leasing Committee] LL/T Legislation - HB 537 Legislation such as this is being pushed by the security deposit alternative companies such as Obligo, Rhino, and Assurant. It is already in place in some cities and counties outside of Florida and in some cases, it is mandatory that the landlord must allow an alternative. The public is very confused by these products and it is a mess. Some are insurance products. Some bonds. Many property managers use the established companies but many want to charge fees in lieu of deposits on their own and they are pocketing the money and in some cases, they charge for example $150 a month in perpetuity, through renewals, instead of a $1000 security deposit upfront. This results in a LARGE profit to the property manager, the property owner has no clue it is going on, and most likely this is an unfair and deceptive trade practice or possibly is “insurance”. The property managers are in essence creating their own insurance product for the $1000. If there is $1000 in loss to the owner, the property manager pays it but pockets the difference collected. I sent an email about this issue a while back but nobody seemed interested. Here is a helpful article written by a property manager which explains how some work: https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation Unless this is written up correctly, it could really create a situation where a tenant is taken advantage of all under the guise of helping them not have to pay a large deposit upfront. The creation of many guarantees, pet damage protection, eviction protection, rent loss protection by the property manager is spreading rapidly due to some loudmouths on social media who have concocted these money making schemes. I contacted the FLOIR (Florida Office of Insurance Regulation) and they told me it is insurance and they wanted me to name names which of course I would not do. The property managers think that is they do not call something “insurance”, then they are in the clear. I see some class actions on the way. There are way too many fees that are not being disclosed until an applicant pays money, gets approved, is bound to sign a lease, and is ready to sign the lease. That is false advertising, bait and switch and no different than the Resort Fee cases which made a lot of lawyers a lot of money. Harry Heist CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT INFO ON CARES COVERED PROPERTY: https://evict.com/?page=cares_act_update LAW OFFICES OF HEIST, WEISSE & WOLK P.A. PH: 1 800 253 8428 FAX: 1 800 367 9038 "Serving the Property Management Professional" Website: www.evict.com<http://www.evict.com/> Email: harry@evict.com<mailto:harry@evict.com> From: landten-bounces@lists.flabarrpptl.org<mailto:landten-bounces@lists.flabarrpptl.org> <landten-bounces@lists.flabarrpptl.org<mailto:landten-bounces@lists.flabarrpptl.org>> On Behalf Of RPPTL Real Estate Leasing Committee Sent: Thursday, November 11, 2021 11:00 PM To: RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org<mailto:landten@lists.flabarrpptl.org>>; RPPTL Landlord Tennant Committee <landtencl@lists.flabarrpptl.org<mailto:landtencl@lists.flabarrpptl.org>> Cc: Trey Goldman <treyg@floridarealtors.org<mailto:treyg@floridarealtors.org>>; Marcia Tabak <marciat@floridarealtors.org<mailto:marciat@floridarealtors.org>> Subject: Re: [RPPTL Leasing Committee] LL/T Legislation - HB 537 Dear Leasing Committee: Trey Goldman from Florida Realtors and the RREIL committee has provided the information below on HB 537: Fees in Lieu of Security Deposits (filed 11/8/21). Also note the information on a similar law that was passed in Texas. Bill Summary/Link: “Fees in Lieu of Security Deposits; Authorizes landlord to offer tenant option to pay fee in lieu of security deposit; requires landlord to provide certain written notice to tenant; requires written agreement signed by landlord, or landlord's agent, & tenant if tenant decides to pay fee in lieu of security deposit; requires specified disclosure in written agreement; provides options for paying fee; specifies that fee is not security deposit; requires landlord to offer option to pay fee in lieu of security deposit to all new tenants; provides exception.” https://www.flsenate.gov/Session/Bill/2022/537 I know this will certainly be of interest to the committee. We will monitor this at the committee level but if anyone is of the opinion we need to do more than that or would like to provide feedback to Trey, please do voice your comments. Thank you - Kristen Kristen King Jaiven, Esq. General Counsel The Signature Real Estate Companies Ph: 561.705.0140 Direct Line: 561-300-6921 Email: Kristen@quadcompanies.com<mailto:Kristen@quadcompanies.com> www.SignatureRealEstateCompanies.com<http://www.signaturerealestatecompanies.com/> [Signature Partners]<http://mysignaturenetwork.com/> On Thu, Nov 11, 2021 at 8:37 PM Trey Goldman <treyg@floridarealtors.org<mailto:treyg@floridarealtors.org>> wrote: Hi Kristen. Was nice seeing you at the meetings last week. Here’s the bill I mentioned - https://www.flsenate.gov/Session/Bill/2022/537. The Leasing Committee may totally pass on, and I won’t be offended. Just sharing. https://www.ky3.com/prnewswire/2021/10/20/texas-new-security-deposit-law-offers-new-opportunity-apartment-owners-managers-renters/ LeaseLock<https://leaselock.com/?utm_source=google&utm_medium=cpc&utm_campaign=EN_NORAM_US_Brand&utm_content=521967960636&utm_term=leaselock&device=c&gclid=CjwKCAiAm7OMBhAQEiwArvGi3NeTuJgLsLijq_BfPblu9hYNfEckjQPuJgDbvGsya7BgDxahCDnDxRoCYP4QAvD_BwE> The language that passed in Texas is very different than language filed in Florida - https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=SB1783 – but intent is the same. Let me know if you have any questions. Trey Goldman Legislative Counsel | FloridaRealtors® 200 South Monroe Street, Tallahassee, FL 32301 talk: 850.224.1400 x2505 direct: 850.521.3277 visit: http://www.floridarealtors.org<http://www.floridarealtors.org/> Click link to learn more about: Legal Hotline<https://www.floridarealtors.org/tools-research/legal-hotline>| Tech Helpline<https://www.floridarealtors.org/tools-research/tech-helpline> | Form Simplicity<https://www.formsimplicity.com/floridarealtorsmemberbenefit> SunStats<https://www.floridarealtors.org/tools-research/reports/sunstats-custom-interactive-florida-housing-market-reports> | News<https://www.floridarealtors.org/news-media/florida-realtors-news> | Magazine<https://www.floridarealtors.org/magazine> | Advocacy<https://www.floridarealtors.org/advocacy> | Online Ed<https://www.floridarealtors.org/education> Facebook: http://floridarealtors.org/facebook Twitter: http://floridarealtors.org/twitter The Voice for Real Estate in Florida This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca Raton, FL 33487 Email Abuse Reporting: it@quadcompanies.com<mailto:it@quadcompanies.com>

RR

RPPTL Real Estate Leasing Committee

Fri, Nov 12, 2021 5:36 PM

I’m in favor of allowing SD alternative options but the law needs to be really clear as it can open the door to scammers, poorly funded companies and abuse of both the owners and tenants. Recently one of the rent guaranteeing products got in some serious trouble when evictions were halted for a while. Now of course they have a clause excluding pandemics.

The last few years of housing shortages and high rents have empowered housing providers. Social media is now full of schemes and scams to extract as much money as possible out of owners and tenants. Unethical companies have come into the marketplace and any product or service that will get the property manager more money into their pockets is being rapidly embraced.

Hidden profits that would not be allowed (or would require disclosure) if in sales are causing both tenants and landlords to pay more. A lot more. In many cases, property managers are making more than the typical 10% commission each month through the use of undisclosed fees, fees disclosed late in the process and hidden profits. One company that provides a/c filters (and some other “new benefits”) on a subscription basis is making millions now with property managers charging $25 to $49 a month to the tenant and the property managers are getting a good piece of that. The tenant has no choice. It is not being presented as an option.

I’m all about the owner and property manager profiting but it needs to be done legally and with full disclosure. I do not know if Rhino or Obligo give kickbacks to the property manager but if they don’t, a new company entering the market will and since the law is silent, this puts the property manager in a dangerous position. I am asked all the time “Where does it say we can’t do this?” or “Why do we need to disclose?” and I can’t answer the question with any solid law.

Harry

CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT

INFO ON CARES COVERED PROPERTY: https://evict.com/?page=cares_act_update

LAW OFFICES OF
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website: http://www.evict.com/ www.evict.com
Email: mailto:harry@evict.com harry@evict.com

From: landten-bounces@lists.flabarrpptl.org landten-bounces@lists.flabarrpptl.org On Behalf Of RPPTL Real Estate Leasing Committee
Sent: Friday, November 12, 2021 11:48 AM
To: landtencl@lists.flabarrpptl.org; landten@lists.flabarrpptl.org
Cc: 'Trey Goldman' treyg@floridarealtors.org; 'Marcia Tabak' marciat@floridarealtors.org
Subject: Re: [RPPTL Leasing Committee] [RPPTL LandTenCL] LL/T Legislation - HB 537

I agree with Harry’s thoughts here. I also think it’s rather tone deaf in light of the current housing climate, but that’s a separate issue.

Amanda R. Kison, Esq.

Board Certified Business Litigation

Bentley Goodrich Kison, P.A.

Main: (941) 556-9030

Fax: (941) 312-5316

mailto:akison@bgk.law akison@bgk.law

783 South Orange Ave.

Third Floor

Sarasota, Florida 34236

http://www.bgk.law/ www.bgk.law

http://www.facebook.com/bgk.law

Legislation such as this is being pushed by the security deposit alternative companies such as Obligo, Rhino, and Assurant. It is already in place in some cities and counties outside of Florida and in some cases, it is mandatory that the landlord must allow an alternative.

The public is very confused by these products and it is a mess. Some are insurance products. Some bonds. Many property managers use the established companies but many want to charge fees in lieu of deposits on their own and they are pocketing the money and in some cases, they charge for example $150 a month in perpetuity, through renewals, instead of a $1000 security deposit upfront. This results in a LARGE profit to the property manager, the property owner has no clue it is going on, and most likely this is an unfair and deceptive trade practice or possibly is “insurance”. The property managers are in essence creating their own insurance product for the $1000. If there is $1000 in loss to the owner, the property manager pays it but pockets the difference collected.

I sent an email about this issue a while back but nobody seemed interested. Here is a helpful article written by a property manager which explains how some work: https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation

Unless this is written up correctly, it could really create a situation where a tenant is taken advantage of all under the guise of helping them not have to pay a large deposit upfront.

The creation of many guarantees, pet damage protection, eviction protection, rent loss protection by the property manager is spreading rapidly due to some loudmouths on social media who have concocted these money making schemes. I contacted the FLOIR (Florida Office of Insurance Regulation) and they told me it is insurance and they wanted me to name names which of course I would not do. The property managers think that is they do not call something “insurance”, then they are in the clear. I see some class actions on the way. There are way too many fees that are not being disclosed until an applicant pays money, gets approved, is bound to sign a lease, and is ready to sign the lease. That is false advertising, bait and switch and no different than the Resort Fee cases which made a lot of lawyers a lot of money.

Harry Heist

CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT

INFO ON CARES COVERED PROPERTY: https://evict.com/?page=cares_act_update

LAW OFFICES OF
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website: http://www.evict.com/ www.evict.com
Email: mailto:harry@evict.com harry@evict.com

Dear Leasing Committee:

Trey Goldman from Florida Realtors and the RREIL committee has provided the information below on HB 537: Fees in Lieu of Security Deposits (filed 11/8/21). Also note the information on a similar law that was passed in Texas.

Bill Summary/Link:

“Fees in Lieu of Security Deposits; Authorizes landlord to offer tenant option to pay fee in lieu of security deposit; requires landlord to provide certain written notice to tenant; requires written agreement signed by landlord, or landlord's agent, & tenant if tenant decides to pay fee in lieu of security deposit; requires specified disclosure in written agreement; provides options for paying fee; specifies that fee is not security deposit; requires landlord to offer option to pay fee in lieu of security deposit to all new tenants; provides exception.” https://www.flsenate.gov/Session/Bill/2022/537 https://www.flsenate.gov/Session/Bill/2022/537

I know this will certainly be of interest to the committee. We will monitor this at the committee level but if anyone is of the opinion we need to do more than that or would like to provide feedback to Trey, please do voice your comments.

Thank you

Kristen

Kristen King Jaiven, Esq.

General Counsel

The Signature Real Estate Companies

Ph: 561.705.0140

Direct Line: 561-300-6921

Email: Kristen@quadcompanies.com mailto:Kristen@quadcompanies.com

www.SignatureRealEstateCompanies.com http://www.signaturerealestatecompanies.com/

http://mysignaturenetwork.com/

On Thu, Nov 11, 2021 at 8:37 PM Trey Goldman <treyg@floridarealtors.org mailto:treyg@floridarealtors.org > wrote:

Hi Kristen.

Was nice seeing you at the meetings last week.

Here’s the bill I mentioned - https://www.flsenate.gov/Session/Bill/2022/537. The Leasing Committee may totally pass on, and I won’t be offended. Just sharing.

https://www.ky3.com/prnewswire/2021/10/20/texas-new-security-deposit-law-offers-new-opportunity-apartment-owners-managers-renters/

LeaseLock https://leaselock.com/?utm_source=google&utm_medium=cpc&utm_campaign=EN_NORAM_US_Brand&utm_content=521967960636&utm_term=leaselock&device=c&gclid=CjwKCAiAm7OMBhAQEiwArvGi3NeTuJgLsLijq_BfPblu9hYNfEckjQPuJgDbvGsya7BgDxahCDnDxRoCYP4QAvD_BwE

The language that passed in Texas is very different than language filed in Florida - https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=SB1783 &Bill=SB1783 – but intent is the same.

Let me know if you have any questions.

Trey Goldman

Legislative Counsel | FloridaRealtors®
200 South Monroe Street, Tallahassee, FL 32301
talk: 850.224.1400 x2505
direct: 850.521.3277

visit: http://www.floridarealtors.org http://www.floridarealtors.org/

Click link to learn more about: https://www.floridarealtors.org/tools-research/legal-hotline Legal Hotline| https://www.floridarealtors.org/tools-research/tech-helpline Tech Helpline | https://www.formsimplicity.com/floridarealtorsmemberbenefit Form Simplicity

https://www.floridarealtors.org/tools-research/reports/sunstats-custom-interactive-florida-housing-market-reports SunStats | https://www.floridarealtors.org/news-media/florida-realtors-news News | https://www.floridarealtors.org/magazine Magazine | https://www.floridarealtors.org/advocacy Advocacy | https://www.floridarealtors.org/education Online Ed

Facebook: http://floridarealtors.org/facebook http://floridarealtors.org/facebook

Twitter: http://floridarealtors.org/twitter http://floridarealtors.org/twitter

The Voice for Real Estate in Florida

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca Raton, FL 33487 Email Abuse Reporting: mailto:it@quadcompanies.com it@quadcompanies.com

I’m in favor of allowing SD alternative options but the law needs to be really clear as it can open the door to scammers, poorly funded companies and abuse of both the owners and tenants. Recently one of the rent guaranteeing products got in some serious trouble when evictions were halted for a while. Now of course they have a clause excluding pandemics. The last few years of housing shortages and high rents have empowered housing providers. Social media is now full of schemes and scams to extract as much money as possible out of owners and tenants. Unethical companies have come into the marketplace and any product or service that will get the property manager more money into their pockets is being rapidly embraced. Hidden profits that would not be allowed (or would require disclosure) if in sales are causing both tenants and landlords to pay more. A lot more. In many cases, property managers are making more than the typical 10% commission each month through the use of undisclosed fees, fees disclosed late in the process and hidden profits. One company that provides a/c filters (and some other “new benefits”) on a subscription basis is making millions now with property managers charging $25 to $49 a month to the tenant and the property managers are getting a good piece of that. The tenant has no choice. It is not being presented as an option. I’m all about the owner and property manager profiting but it needs to be done legally and with full disclosure. I do not know if Rhino or Obligo give kickbacks to the property manager but if they don’t, a new company entering the market will and since the law is silent, this puts the property manager in a dangerous position. I am asked all the time “Where does it say we can’t do this?” or “Why do we need to disclose?” and I can’t answer the question with any solid law. Harry CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT INFO ON CARES COVERED PROPERTY: https://evict.com/?page=cares_act_update LAW OFFICES OF HEIST, WEISSE & WOLK P.A. PH: 1 800 253 8428 FAX: 1 800 367 9038 "Serving the Property Management Professional" Website: <http://www.evict.com/> www.evict.com Email: <mailto:harry@evict.com> harry@evict.com From: landten-bounces@lists.flabarrpptl.org <landten-bounces@lists.flabarrpptl.org> On Behalf Of RPPTL Real Estate Leasing Committee Sent: Friday, November 12, 2021 11:48 AM To: landtencl@lists.flabarrpptl.org; landten@lists.flabarrpptl.org Cc: 'Trey Goldman' <treyg@floridarealtors.org>; 'Marcia Tabak' <marciat@floridarealtors.org> Subject: Re: [RPPTL Leasing Committee] [RPPTL LandTenCL] LL/T Legislation - HB 537 I agree with Harry’s thoughts here. I also think it’s rather tone deaf in light of the current housing climate, but that’s a separate issue. Amanda R. Kison, Esq. Board Certified Business Litigation Bentley Goodrich Kison, P.A. Main: (941) 556-9030 Fax: (941) 312-5316 <mailto:akison@bgk.law> akison@bgk.law 783 South Orange Ave. Third Floor Sarasota, Florida 34236 <http://www.bgk.law/> www.bgk.law <http://www.facebook.com/bgk.law> From: landtencl-bounces@lists.flabarrpptl.org <mailto:landtencl-bounces@lists.flabarrpptl.org> <landtencl-bounces@lists.flabarrpptl.org <mailto:landtencl-bounces@lists.flabarrpptl.org> > On Behalf Of Real Estate Leasing Committee Sent: Friday, November 12, 2021 11:03 AM To: landten@lists.flabarrpptl.org <mailto:landten@lists.flabarrpptl.org> ; 'RPPTL Landlord Tennant Committee' <landtencl@lists.flabarrpptl.org <mailto:landtencl@lists.flabarrpptl.org> > Cc: 'Trey Goldman' <treyg@floridarealtors.org <mailto:treyg@floridarealtors.org> >; 'Marcia Tabak' <marciat@floridarealtors.org <mailto:marciat@floridarealtors.org> > Subject: Re: [RPPTL LandTenCL] [RPPTL Leasing Committee] LL/T Legislation - HB 537 Legislation such as this is being pushed by the security deposit alternative companies such as Obligo, Rhino, and Assurant. It is already in place in some cities and counties outside of Florida and in some cases, it is mandatory that the landlord must allow an alternative. The public is very confused by these products and it is a mess. Some are insurance products. Some bonds. Many property managers use the established companies but many want to charge fees in lieu of deposits on their own and they are pocketing the money and in some cases, they charge for example $150 a month in perpetuity, through renewals, instead of a $1000 security deposit upfront. This results in a LARGE profit to the property manager, the property owner has no clue it is going on, and most likely this is an unfair and deceptive trade practice or possibly is “insurance”. The property managers are in essence creating their own insurance product for the $1000. If there is $1000 in loss to the owner, the property manager pays it but pockets the difference collected. I sent an email about this issue a while back but nobody seemed interested. Here is a helpful article written by a property manager which explains how some work: <https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation> https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation Unless this is written up correctly, it could really create a situation where a tenant is taken advantage of all under the guise of helping them not have to pay a large deposit upfront. The creation of many guarantees, pet damage protection, eviction protection, rent loss protection by the property manager is spreading rapidly due to some loudmouths on social media who have concocted these money making schemes. I contacted the FLOIR (Florida Office of Insurance Regulation) and they told me it is insurance and they wanted me to name names which of course I would not do. The property managers think that is they do not call something “insurance”, then they are in the clear. I see some class actions on the way. There are way too many fees that are not being disclosed until an applicant pays money, gets approved, is bound to sign a lease, and is ready to sign the lease. That is false advertising, bait and switch and no different than the Resort Fee cases which made a lot of lawyers a lot of money. Harry Heist CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT INFO ON CARES COVERED PROPERTY: https://evict.com/?page=cares_act_update LAW OFFICES OF HEIST, WEISSE & WOLK P.A. PH: 1 800 253 8428 FAX: 1 800 367 9038 "Serving the Property Management Professional" Website: <http://www.evict.com/> www.evict.com Email: <mailto:harry@evict.com> harry@evict.com From: landten-bounces@lists.flabarrpptl.org <mailto:landten-bounces@lists.flabarrpptl.org> <landten-bounces@lists.flabarrpptl.org <mailto:landten-bounces@lists.flabarrpptl.org> > On Behalf Of RPPTL Real Estate Leasing Committee Sent: Thursday, November 11, 2021 11:00 PM To: RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org <mailto:landten@lists.flabarrpptl.org> >; RPPTL Landlord Tennant Committee <landtencl@lists.flabarrpptl.org <mailto:landtencl@lists.flabarrpptl.org> > Cc: Trey Goldman <treyg@floridarealtors.org <mailto:treyg@floridarealtors.org> >; Marcia Tabak <marciat@floridarealtors.org <mailto:marciat@floridarealtors.org> > Subject: Re: [RPPTL Leasing Committee] LL/T Legislation - HB 537 Dear Leasing Committee: Trey Goldman from Florida Realtors and the RREIL committee has provided the information below on HB 537: Fees in Lieu of Security Deposits (filed 11/8/21). Also note the information on a similar law that was passed in Texas. Bill Summary/Link: “Fees in Lieu of Security Deposits; Authorizes landlord to offer tenant option to pay fee in lieu of security deposit; requires landlord to provide certain written notice to tenant; requires written agreement signed by landlord, or landlord's agent, & tenant if tenant decides to pay fee in lieu of security deposit; requires specified disclosure in written agreement; provides options for paying fee; specifies that fee is not security deposit; requires landlord to offer option to pay fee in lieu of security deposit to all new tenants; provides exception.” <https://www.flsenate.gov/Session/Bill/2022/537> https://www.flsenate.gov/Session/Bill/2022/537 I know this will certainly be of interest to the committee. We will monitor this at the committee level but if anyone is of the opinion we need to do more than that or would like to provide feedback to Trey, please do voice your comments. Thank you - Kristen Kristen King Jaiven, Esq. General Counsel The Signature Real Estate Companies Ph: 561.705.0140 Direct Line: 561-300-6921 Email: Kristen@quadcompanies.com <mailto:Kristen@quadcompanies.com> www.SignatureRealEstateCompanies.com <http://www.signaturerealestatecompanies.com/> <http://mysignaturenetwork.com/> On Thu, Nov 11, 2021 at 8:37 PM Trey Goldman <treyg@floridarealtors.org <mailto:treyg@floridarealtors.org> > wrote: Hi Kristen. Was nice seeing you at the meetings last week. Here’s the bill I mentioned - https://www.flsenate.gov/Session/Bill/2022/537. The Leasing Committee may totally pass on, and I won’t be offended. Just sharing. https://www.ky3.com/prnewswire/2021/10/20/texas-new-security-deposit-law-offers-new-opportunity-apartment-owners-managers-renters/ LeaseLock <https://leaselock.com/?utm_source=google&utm_medium=cpc&utm_campaign=EN_NORAM_US_Brand&utm_content=521967960636&utm_term=leaselock&device=c&gclid=CjwKCAiAm7OMBhAQEiwArvGi3NeTuJgLsLijq_BfPblu9hYNfEckjQPuJgDbvGsya7BgDxahCDnDxRoCYP4QAvD_BwE> The language that passed in Texas is very different than language filed in Florida - https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R <https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=SB1783> &Bill=SB1783 – but intent is the same. Let me know if you have any questions. Trey Goldman Legislative Counsel | FloridaRealtors® 200 South Monroe Street, Tallahassee, FL 32301 talk: 850.224.1400 x2505 direct: 850.521.3277 visit: http://www.floridarealtors.org <http://www.floridarealtors.org/> Click link to learn more about: <https://www.floridarealtors.org/tools-research/legal-hotline> Legal Hotline| <https://www.floridarealtors.org/tools-research/tech-helpline> Tech Helpline | <https://www.formsimplicity.com/floridarealtorsmemberbenefit> Form Simplicity <https://www.floridarealtors.org/tools-research/reports/sunstats-custom-interactive-florida-housing-market-reports> SunStats | <https://www.floridarealtors.org/news-media/florida-realtors-news> News | <https://www.floridarealtors.org/magazine> Magazine | <https://www.floridarealtors.org/advocacy> Advocacy | <https://www.floridarealtors.org/education> Online Ed Facebook: <http://floridarealtors.org/facebook> http://floridarealtors.org/facebook Twitter: <http://floridarealtors.org/twitter> http://floridarealtors.org/twitter The Voice for Real Estate in Florida This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca Raton, FL 33487 Email Abuse Reporting: <mailto:it@quadcompanies.com> it@quadcompanies.com

RR

RPPTL Real Estate Leasing Committee

Fri, Nov 12, 2021 6:01 PM

All:

A companion bill was also filed by Senator Boyd (chairman of the Committee
on Banking and Insurance). SB 884.

Kristen King Jaiven, Esq.

General Counsel

The Signature Real Estate Companies

Ph: 561.705.0140

Direct Line: 561-300-6921

Email: Kristen@quadcompanies.com

www.SignatureRealEstateCompanies.com
http://www.signaturerealestatecompanies.com/

[image: Signature Partners] http://mysignaturenetwork.com/

On Fri, Nov 12, 2021 at 12:39 PM RPPTL Real Estate Leasing Committee <
landten@lists.flabarrpptl.org> wrote:

I’m in favor of allowing SD alternative options but the law needs to be
really clear as it can open the door to scammers, poorly funded companies
and abuse of both the owners and tenants. Recently one of the rent
guaranteeing products got in some serious trouble when evictions were
halted for a while. Now of course they have a clause excluding pandemics.

The last few years of housing shortages and high rents have empowered
housing providers. Social media is now full of schemes and scams to extract
as much money as possible out of owners and tenants. Unethical companies
have come into the marketplace and any product or service that will get the
property manager more money into their pockets is being rapidly embraced.

Hidden profits that would not be allowed (or would require disclosure) if
in sales are causing both tenants and landlords to pay more. A lot more.
In many cases, property managers are making more than the typical 10%
commission each month through the use of undisclosed fees, fees disclosed
late in the process and hidden profits. One company that provides a/c
filters (and some other “new benefits”) on a subscription basis is making
millions now with property managers charging $25 to $49 a month to the
tenant and the property managers are getting a good piece of that. The
tenant has no choice. It is not being presented as an option.

I’m all about the owner and property manager profiting but it needs to be
done legally and with full disclosure. I do not know if Rhino or Obligo
give kickbacks to the property manager but if they don’t, a new company
entering the market will and since the law is silent, this puts the
property manager in a dangerous position. I am asked all the time “Where
does it say we can’t do this?” or “Why do we need to disclose?” and I can’t
answer the question with any solid law.

Harry

*CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT *

*INFO ON CARES COVERED PROPERTY: *
https://evict.com/?page=cares_act_update

*LAW OFFICES OF HEIST, WEISSE & WOLK P.A.PH: 1 800 253 8428FAX: 1 800 367
9038"Serving the Property Management Professional"Website: *
www.evict.com http://www.evict.com/

Email: *harry@evict.com harry@evict.com

From: landten-bounces@lists.flabarrpptl.org <
landten-bounces@lists.flabarrpptl.org> *On Behalf Of *RPPTL Real Estate
Leasing Committee
Sent: Friday, November 12, 2021 11:48 AM
To: landtencl@lists.flabarrpptl.org; landten@lists.flabarrpptl.org
Cc: 'Trey Goldman' treyg@floridarealtors.org; 'Marcia Tabak' <
marciat@floridarealtors.org>
Subject: Re: [RPPTL Leasing Committee] [RPPTL LandTenCL] LL/T
Legislation - HB 537

I agree with Harry’s thoughts here. I also think it’s rather tone deaf in
light of the current housing climate, but that’s a separate issue.

[image: Logo Description automatically generated]

[image: Text Description automatically generated with low confidence]

Amanda R. Kison, Esq.

Board Certified Business Litigation

Bentley Goodrich Kison, P.A.

Main: (941) 556-9030

Fax: (941) 312-5316

akison@bgk.law akison@bgk.law

783 South Orange Ave.

Third Floor

Sarasota, Florida 34236

www.bgk.law http://www.bgk.law/

[image: Title: Facebook - Description: Facebook icon]
http://www.facebook.com/bgk.law

From: landtencl-bounces@lists.flabarrpptl.org <
landtencl-bounces@lists.flabarrpptl.org> *On Behalf Of *Real Estate
Leasing Committee
Sent: Friday, November 12, 2021 11:03 AM
To: landten@lists.flabarrpptl.org; 'RPPTL Landlord Tennant Committee' <
landtencl@lists.flabarrpptl.org>
Cc: 'Trey Goldman' treyg@floridarealtors.org; 'Marcia Tabak' <
marciat@floridarealtors.org>
Subject: Re: [RPPTL LandTenCL] [RPPTL Leasing Committee] LL/T
Legislation - HB 537

Legislation such as this is being pushed by the security deposit
alternative companies such as Obligo, Rhino, and Assurant. It is already
in place in some cities and counties outside of Florida and in some cases,
it is mandatory that the landlord must allow an alternative.

The public is very confused by these products and it is a mess. Some are
insurance products. Some bonds. Many property managers use the
established companies but many want to charge fees in lieu of deposits on
their own and they are pocketing the money and in some cases, they charge
for example $150 a month in perpetuity, through renewals, instead of a
$1000 security deposit upfront. This results in a LARGE profit to the
property manager, the property owner has no clue it is going on, and most
likely this is an unfair and deceptive trade practice or possibly is
“insurance”. The property managers are in essence creating their own
insurance product for the $1000. If there is $1000 in loss to the owner,
the property manager pays it but pockets the difference collected.

I sent an email about this issue a while back but nobody seemed
interested. Here is a helpful article written by a property manager which
explains how some work:
https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation

Unless this is written up correctly, it could really create a situation
where a tenant is taken advantage of all under the guise of helping them
not have to pay a large deposit upfront.

The creation of many guarantees, pet damage protection, eviction
protection, rent loss protection by the property manager is spreading
rapidly due to some loudmouths on social media who have concocted these
money making schemes. I contacted the FLOIR (Florida Office of Insurance
Regulation) and they told me it is insurance and they wanted me to name
names which of course I would not do. The property managers think that is
they do not call something “insurance”, then they are in the clear. I see
some class actions on the way. There are way too many fees that are not
being disclosed until an applicant pays money, gets approved, is bound to
sign a lease, and is ready to sign the lease. That is false advertising,
bait and switch and no different than the Resort Fee cases which made a lot
of lawyers a lot of money.

Harry Heist

*CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT *

*INFO ON CARES COVERED PROPERTY: *
https://evict.com/?page=cares_act_update

*LAW OFFICES OF HEIST, WEISSE & WOLK P.A.PH: 1 800 253 8428FAX: 1 800 367
9038"Serving the Property Management Professional"Website: *
www.evict.com http://www.evict.com/

Email: *harry@evict.com harry@evict.com

From: landten-bounces@lists.flabarrpptl.org <
landten-bounces@lists.flabarrpptl.org> *On Behalf Of *RPPTL Real Estate
Leasing Committee
Sent: Thursday, November 11, 2021 11:00 PM
To: RPPTL Landlord Tenant Committee landten@lists.flabarrpptl.org;
RPPTL Landlord Tennant Committee landtencl@lists.flabarrpptl.org
Cc: Trey Goldman treyg@floridarealtors.org; Marcia Tabak <
marciat@floridarealtors.org>
Subject: Re: [RPPTL Leasing Committee] LL/T Legislation - HB 537

Dear Leasing Committee:

Trey Goldman from Florida Realtors and the RREIL committee has provided
the information below on HB 537: Fees in Lieu of Security Deposits (filed
11/8/21). Also note the information on a similar law that was passed in
Texas.

Bill Summary/Link:

“Fees in Lieu of Security Deposits; Authorizes landlord to offer tenant
option to pay fee in lieu of security deposit; requires landlord to provide
certain written notice to tenant; requires written agreement signed by
landlord, or landlord's agent, & tenant if tenant decides to pay fee in
lieu of security deposit; requires specified disclosure in written
agreement; provides options for paying fee; specifies that fee is not
security deposit; requires landlord to offer option to pay fee in lieu of
security deposit to all new tenants; provides exception.”
https://www.flsenate.gov/Session/Bill/2022/537

I know this will certainly be of interest to the committee. We will
monitor this at the committee level but if anyone is of the opinion we need
to do more than that or would like to provide feedback to Trey, please do
voice your comments.

Thank you

Kristen

Kristen King Jaiven, Esq.

General Counsel

The Signature Real Estate Companies

Ph: 561.705.0140

Direct Line: 561-300-6921

Email: Kristen@quadcompanies.com

www.SignatureRealEstateCompanies.com
http://www.signaturerealestatecompanies.com/

[image: Signature Partners] http://mysignaturenetwork.com/

On Thu, Nov 11, 2021 at 8:37 PM Trey Goldman treyg@floridarealtors.org
wrote:

Hi Kristen.

Was nice seeing you at the meetings last week.

Here’s the bill I mentioned -
https://www.flsenate.gov/Session/Bill/2022/537. The Leasing Committee may
totally pass on, and I won’t be offended. Just sharing.

https://www.ky3.com/prnewswire/2021/10/20/texas-new-security-deposit-law-offers-new-opportunity-apartment-owners-managers-renters/

LeaseLock
https://leaselock.com/?utm_source=google&utm_medium=cpc&utm_campaign=EN_NORAM_US_Brand&utm_content=521967960636&utm_term=leaselock&device=c&gclid=CjwKCAiAm7OMBhAQEiwArvGi3NeTuJgLsLijq_BfPblu9hYNfEckjQPuJgDbvGsya7BgDxahCDnDxRoCYP4QAvD_BwE

The language that passed in Texas is very different than language filed in
Florida -
https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=SB1783
– but intent is the same.

Let me know if you have any questions.

Trey Goldman
Legislative Counsel | Florida
*Realtors®*200 South Monroe Street, Tallahassee, FL 32301
talk: 850.224.1400 x2505
*direct: *850.521.3277

visit: http://www.floridarealtors.org
http://www.floridarealtors.org/

Click link to learn more about: Legal Hotline
https://www.floridarealtors.org/tools-research/legal-hotline| Tech
Helpline https://www.floridarealtors.org/tools-research/tech-helpline | Form
Simplicity https://www.formsimplicity.com/floridarealtorsmemberbenefit

SunStats
https://www.floridarealtors.org/tools-research/reports/sunstats-custom-interactive-florida-housing-market-reports
| News https://www.floridarealtors.org/news-media/florida-realtors-news
| Magazine https://www.floridarealtors.org/magazine | Advocacy
https://www.floridarealtors.org/advocacy | Online Ed
https://www.floridarealtors.org/education

Facebook: http://floridarealtors.org/facebook

Twitter: http://floridarealtors.org/twitter

The Voice for Real Estate in Florida

This email and any files transmitted with it are confidential and intended
solely for the use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the system manager.
Please note that any views or opinions presented in this email are solely
those of the author and do not necessarily represent those of the company.
Finally, the recipient should check this email and any attachments for the
presence of viruses. The company accepts no liability for any damage caused
by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a
The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca
Raton, FL 33487 Email Abuse Reporting: it@quadcompanies.com

landten mailing list
landten@lists.flabarrpptl.org
http://mailman.fsr.com/mailman/listinfo/landten

--

This email and any files transmitted with it are
confidential and
intended solely for the use of the individual or entity to
whom they are
addressed. If you have received this email in error please notify
the
system manager. Please note that any views or opinions presented in this
email are solely those of the author and do not necessarily represent those
of
the company. Finally, the recipient should check this email and any
attachments
for the presence of viruses. The company accepts no liability
for any damage
caused by any virus transmitted by this email. Quad Realty
Investments, Inc.
d/b/a The Signature Real Estate Companies 6699 N Federal
Hwy, Suite 103, Boca Raton, FL
33487 Email Abuse Reporting:
it@quadcompanies.com mailto:it@quadcompanies.com

All: A companion bill was also filed by Senator Boyd (chairman of the Committee on Banking and Insurance). SB 884. Kristen King Jaiven, Esq. General Counsel The Signature Real Estate Companies Ph: 561.705.0140 Direct Line: 561-300-6921 Email: Kristen@quadcompanies.com www.SignatureRealEstateCompanies.com <http://www.signaturerealestatecompanies.com/> [image: Signature Partners] <http://mysignaturenetwork.com/> On Fri, Nov 12, 2021 at 12:39 PM RPPTL Real Estate Leasing Committee < landten@lists.flabarrpptl.org> wrote: > I’m in favor of allowing SD alternative options but the law needs to be > really clear as it can open the door to scammers, poorly funded companies > and abuse of both the owners and tenants. Recently one of the rent > guaranteeing products got in some serious trouble when evictions were > halted for a while. Now of course they have a clause excluding pandemics. > > > > The last few years of housing shortages and high rents have empowered > housing providers. Social media is now full of schemes and scams to extract > as much money as possible out of owners and tenants. Unethical companies > have come into the marketplace and any product or service that will get the > property manager more money into their pockets is being rapidly embraced. > > > > Hidden profits that would not be allowed (or would require disclosure) if > in sales are causing both tenants and landlords to pay more. A lot more. > In many cases, property managers are making more than the typical 10% > commission each month through the use of undisclosed fees, fees disclosed > late in the process and hidden profits. One company that provides a/c > filters (and some other “new benefits”) on a subscription basis is making > millions now with property managers charging $25 to $49 a month to the > tenant and the property managers are getting a good piece of that. The > tenant has no choice. It is not being presented as an option. > > > > I’m all about the owner and property manager profiting but it needs to be > done legally and with full disclosure. I do not know if Rhino or Obligo > give kickbacks to the property manager but if they don’t, a new company > entering the market will and since the law is silent, this puts the > property manager in a dangerous position. I am asked all the time “Where > does it say we can’t do this?” or “Why do we need to disclose?” and I can’t > answer the question with any solid law. > > > > Harry > > *CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT * > > *INFO ON CARES COVERED PROPERTY: * > https://evict.com/?page=cares_act_update > > > > > > > *LAW OFFICES OF HEIST, WEISSE & WOLK P.A.PH: 1 800 253 8428FAX: 1 800 367 > 9038"Serving the Property Management Professional"Website: * > *www.evict.com* <http://www.evict.com/> > * Email: **harry@evict.com* <harry@evict.com> > > > > *From:* landten-bounces@lists.flabarrpptl.org < > landten-bounces@lists.flabarrpptl.org> *On Behalf Of *RPPTL Real Estate > Leasing Committee > *Sent:* Friday, November 12, 2021 11:48 AM > *To:* landtencl@lists.flabarrpptl.org; landten@lists.flabarrpptl.org > *Cc:* 'Trey Goldman' <treyg@floridarealtors.org>; 'Marcia Tabak' < > marciat@floridarealtors.org> > *Subject:* Re: [RPPTL Leasing Committee] [RPPTL LandTenCL] LL/T > Legislation - HB 537 > > > > I agree with Harry’s thoughts here. I also think it’s rather tone deaf in > light of the current housing climate, but that’s a separate issue. > > > > > > > > [image: Logo Description automatically generated] > > > > [image: Text Description automatically generated with low confidence] > > *Amanda R. Kison, Esq.* > > Board Certified Business Litigation > > Bentley Goodrich Kison, P.A. > > Main: (941) 556-9030 > > Fax: (941) 312-5316 > > *akison@bgk.law <akison@bgk.law>* > > 783 South Orange Ave. > > Third Floor > > Sarasota, Florida 34236 > > *www.bgk.law <http://www.bgk.law/>* > > > > [image: Title: Facebook - Description: Facebook icon] > <http://www.facebook.com/bgk.law> > > > > > > *From:* landtencl-bounces@lists.flabarrpptl.org < > landtencl-bounces@lists.flabarrpptl.org> *On Behalf Of *Real Estate > Leasing Committee > *Sent:* Friday, November 12, 2021 11:03 AM > *To:* landten@lists.flabarrpptl.org; 'RPPTL Landlord Tennant Committee' < > landtencl@lists.flabarrpptl.org> > *Cc:* 'Trey Goldman' <treyg@floridarealtors.org>; 'Marcia Tabak' < > marciat@floridarealtors.org> > *Subject:* Re: [RPPTL LandTenCL] [RPPTL Leasing Committee] LL/T > Legislation - HB 537 > > > > Legislation such as this is being pushed by the security deposit > alternative companies such as Obligo, Rhino, and Assurant. It is already > in place in some cities and counties outside of Florida and in some cases, > it is mandatory that the landlord must allow an alternative. > > > > The public is very confused by these products and it is a mess. Some are > insurance products. Some bonds. Many property managers use the > established companies but many want to charge fees in lieu of deposits on > their own and they are pocketing the money and in some cases, they charge > for example $150 a month in perpetuity, through renewals, instead of a > $1000 security deposit upfront. This results in a LARGE profit to the > property manager, the property owner has no clue it is going on, and most > likely this is an unfair and deceptive trade practice or possibly is > “insurance”. The property managers are in essence creating their own > insurance product for the $1000. If there is $1000 in loss to the owner, > the property manager pays it but pockets the difference collected. > > > > I sent an email about this issue a while back but nobody seemed > interested. Here is a helpful article written by a property manager which > explains how some work: > https://www.peterlohmann.com/blog/security-deposit-alternatives-tenant-screening-innovation > > > > > Unless this is written up correctly, it could really create a situation > where a tenant is taken advantage of all under the guise of helping them > not have to pay a large deposit upfront. > > > > The creation of many guarantees, pet damage protection, eviction > protection, rent loss protection by the property manager is spreading > rapidly due to some loudmouths on social media who have concocted these > money making schemes. I contacted the FLOIR (Florida Office of Insurance > Regulation) and they told me it is insurance and they wanted me to name > names which of course I would not do. The property managers think that is > they do not call something “insurance”, then they are in the clear. I see > some class actions on the way. There are way too many fees that are not > being disclosed until an applicant pays money, gets approved, is bound to > sign a lease, and is ready to sign the lease. That is false advertising, > bait and switch and no different than the Resort Fee cases which made a lot > of lawyers a lot of money. > > > > Harry Heist > > > > *CDC ORDER HAS BEEN STRUCK DOWN BY THE SUPREME COURT * > > *INFO ON CARES COVERED PROPERTY: * > https://evict.com/?page=cares_act_update > > > > > > > *LAW OFFICES OF HEIST, WEISSE & WOLK P.A.PH: 1 800 253 8428FAX: 1 800 367 > 9038"Serving the Property Management Professional"Website: * > *www.evict.com* <http://www.evict.com/> > * Email: **harry@evict.com* <harry@evict.com> > > > > *From:* landten-bounces@lists.flabarrpptl.org < > landten-bounces@lists.flabarrpptl.org> *On Behalf Of *RPPTL Real Estate > Leasing Committee > *Sent:* Thursday, November 11, 2021 11:00 PM > *To:* RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org>; > RPPTL Landlord Tennant Committee <landtencl@lists.flabarrpptl.org> > *Cc:* Trey Goldman <treyg@floridarealtors.org>; Marcia Tabak < > marciat@floridarealtors.org> > *Subject:* Re: [RPPTL Leasing Committee] LL/T Legislation - HB 537 > > > > Dear Leasing Committee: > > > > Trey Goldman from Florida Realtors and the RREIL committee has provided > the information below on HB 537: Fees in Lieu of Security Deposits (filed > 11/8/21). Also note the information on a similar law that was passed in > Texas. > > > > *Bill Summary/Link*: > > > > “Fees in Lieu of Security Deposits; Authorizes landlord to offer tenant > option to pay fee in lieu of security deposit; requires landlord to provide > certain written notice to tenant; requires written agreement signed by > landlord, or landlord's agent, & tenant if tenant decides to pay fee in > lieu of security deposit; requires specified disclosure in written > agreement; provides options for paying fee; specifies that fee is not > security deposit; requires landlord to offer option to pay fee in lieu of > security deposit to all new tenants; provides exception.” > https://www.flsenate.gov/Session/Bill/2022/537 > > > > I know this will certainly be of interest to the committee. We will > monitor this at the committee level but if anyone is of the opinion we need > to do more than that or would like to provide feedback to Trey, please do > voice your comments. > > > > Thank you > > > > - Kristen > > > > Kristen King Jaiven, Esq. > > General Counsel > > The Signature Real Estate Companies > > Ph: 561.705.0140 > > Direct Line: 561-300-6921 > > Email: Kristen@quadcompanies.com > > www.SignatureRealEstateCompanies.com > <http://www.signaturerealestatecompanies.com/> > > > > > [image: Signature Partners] <http://mysignaturenetwork.com/> > > > > > > > > On Thu, Nov 11, 2021 at 8:37 PM Trey Goldman <treyg@floridarealtors.org> > wrote: > > Hi Kristen. > > > > Was nice seeing you at the meetings last week. > > > > Here’s the bill I mentioned - > https://www.flsenate.gov/Session/Bill/2022/537. The Leasing Committee may > totally pass on, and I won’t be offended. Just sharing. > > > > > https://www.ky3.com/prnewswire/2021/10/20/texas-new-security-deposit-law-offers-new-opportunity-apartment-owners-managers-renters/ > > > > LeaseLock > <https://leaselock.com/?utm_source=google&utm_medium=cpc&utm_campaign=EN_NORAM_US_Brand&utm_content=521967960636&utm_term=leaselock&device=c&gclid=CjwKCAiAm7OMBhAQEiwArvGi3NeTuJgLsLijq_BfPblu9hYNfEckjQPuJgDbvGsya7BgDxahCDnDxRoCYP4QAvD_BwE> > > > > The language that passed in Texas is very different than language filed in > Florida - > https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=SB1783 > – but intent is the same. > > > > Let me know if you have any questions. > > > > > *Trey Goldman* > Legislative Counsel | *Florida* > *Realtors®*200 South Monroe Street, Tallahassee, FL 32301 > *talk:* 850.224.1400 x2505 > *direct: *850.521.3277 > > *visit:* *http://www.floridarealtors.org > <http://www.floridarealtors.org/>* > > *Click* link to learn more about: Legal Hotline > <https://www.floridarealtors.org/tools-research/legal-hotline>| Tech > Helpline <https://www.floridarealtors.org/tools-research/tech-helpline> | Form > Simplicity <https://www.formsimplicity.com/floridarealtorsmemberbenefit> > > SunStats > <https://www.floridarealtors.org/tools-research/reports/sunstats-custom-interactive-florida-housing-market-reports> > | News <https://www.floridarealtors.org/news-media/florida-realtors-news> > | Magazine <https://www.floridarealtors.org/magazine> | Advocacy > <https://www.floridarealtors.org/advocacy> | Online Ed > <https://www.floridarealtors.org/education> > > > > *Facebook:* http://floridarealtors.org/facebook > > *Twitter:* http://floridarealtors.org/twitter > > > > The Voice for Real Estate in Florida > > > > > > This email and any files transmitted with it are confidential and intended > solely for the use of the individual or entity to whom they are addressed. > If you have received this email in error please notify the system manager. > Please note that any views or opinions presented in this email are solely > those of the author and do not necessarily represent those of the company. > Finally, the recipient should check this email and any attachments for the > presence of viruses. The company accepts no liability for any damage caused > by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a > The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca > Raton, FL 33487 Email Abuse Reporting: it@quadcompanies.com > _______________________________________________ > landten mailing list > landten@lists.flabarrpptl.org > http://mailman.fsr.com/mailman/listinfo/landten -- This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. Quad Realty Investments, Inc. d/b/a The Signature Real Estate Companies 6699 N Federal Hwy, Suite 103, Boca Raton, FL 33487 Email Abuse Reporting: it@quadcompanies.com <mailto:it@quadcompanies.com>