Skip to main content
The Basaran GroupLoKation Real Estate · South Florida
Rentals & investment property

What happens to the tenant and security deposit when you buy a rental property in Florida?

Short answer

When a Florida rental is sold, Florida Statute 83.49(7) requires the seller to transfer all security deposits and advance rent, with any earned interest and an accurate accounting of each tenant's credit, to the new owner, who then becomes responsible for holding and returning them. The new owner must also give the tenant written notice of the landlord's or agent's name and address, and should review the existing lease and Florida's notice rules before planning any move-in or rent change.

What happens to the security deposit

Section 83.49(7) says that when title is sold or transferred, all deposits and advance rent go to the new owner, along with earned interest and an accounting showing the amount credited to each tenant. The seller is released from the duty to hold the money once it transfers the funds and records and receives a written receipt.

The law presumes the new owner received the deposits from the seller, but that presumption is limited to one month's rent, and the new owner is responsible for any later violations while holding them. The new owner then holds the money under one of the options in section 83.49(1) and, unless it rents fewer than five units, must notify the tenant within 30 days if the holding method or location changes.[1]

Notices and access around the sale

Section 83.50 requires the landlord, or someone authorized to sign leases for the landlord, to give the tenant the landlord's or agent's name and address in writing. Notices of these names and addresses, or of changes, are delivered to the tenant's residence, to another address the tenant designates in writing, or by email under s. 83.505.

Before closing, a tenant may not unreasonably refuse entry to show the unit to prospective buyers. Entry for repairs needs at least 24 hours' notice, between 7:30 a.m. and 8:00 p.m.[2][3]

Ending or changing the tenancy after you buy

If the tenant is month-to-month, either side can end the tenancy with at least 30 days' written notice before the end of a monthly period. If the lease has a fixed term with a required non-renewal notice, that period must be between 30 and 60 days.

Before you close, ask for the lease, the rent history and the deposit accounting, and have a Florida real estate attorney review how the lease affects your plans.

  • Confirm the deposit amount and any advance rent in writing.
  • Plan to send your name and address, or your manager's, to the tenant in writing.[4][5]

Key takeaways

  • The seller must transfer all deposits, advance rent, earned interest and an accounting of each tenant's credit to the buyer.
  • The buyer is presumed to have received deposits up to one month's rent and is responsible for them going forward.
  • Give the tenant the new landlord's or agent's name and address in writing.
  • Month-to-month tenancies need at least 30 days' written notice to end; fixed-term lease notices run 30 to 60 days.
  • Review the lease, rent history and deposit records with an attorney before closing.

Sources

  1. [1]Florida Legislature — 2026 Florida Statutes, s. 83.49 Deposit money or advance rent
  2. [2]Florida Legislature — 2026 Florida Statutes, s. 83.50 Disclosure of landlord's address
  3. [3]Florida Legislature — 2026 Florida Statutes, s. 83.53 Landlord's access to dwelling unit
  4. [4]Florida Legislature — 2026 Florida Statutes, s. 83.57 Termination of tenancy without specific term
  5. [5]Florida Legislature — 2026 Florida Statutes, s. 83.575 Termination of tenancy with specific duration

Reviewed October 11, 2026. General real-estate information for Florida, not legal, tax, lending or insurance advice. Laws, rates and deadlines change — confirm property-specific facts with the agency cited, a Florida real-estate attorney, CPA or licensed insurance agent.

Have a question about a specific property?

Rules like these play out differently address by address. Tell us the property and what you are deciding. The Basaran Group · Anthony Basaran, P.A. · LoKation Real Estate.

Ask The Basaran Group