Tenant Screening & Security Deposit Policy

1. Security Deposit Escrow Compliance (Florida Statute § 83.49)

In strict compliance with Florida Statute § 83.49, all tenant security deposits received by Julio Rentals LLC are held in a recognized banking institution located within the State of Florida. Deposits are deposited in a segregated account and not commingled with operating funds. Within 30 days of receipt, the tenant receives written notification specifying the depository bank and account holding status.

2. Mandatory Return Timelines upon Move-Out

Upon lease expiration and vacating the premises, Florida statute dictates strict deadlines for deposit disposition:

3. Normal Wear & Tear vs. Deductible Damage

Deductions are never assessed for normal, ordinary wear and tear (such as gentle paint fading or light traffic marks). Deductible items include physical tile breakage, unauthorized painting or structural alterations, severe wall punctures, pet-induced damage, or specialized debris clearance.

4. Fair Credit Reporting Act (FCRA) Screening Standards

To ensure community safety and verify financial capability, prospective tenants are evaluated under uniform, objective standards:

• Income Verification: Documented monthly gross income or stipends equal to 2.5x the monthly rental rate (paystubs, bank statements, or official hospital/university contract letter).
• Rental History: Positive landlord references with no outstanding civil eviction judgments within the last 5 years.
• FCRA Adverse Action Notice: If an application is declined or conditional based on consumer reporting, an adverse action notice is provided immediately with agency contact details and dispute instructions.