Florida Broker Practice Exam

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Prepare for the Florida Broker Exam. Study with interactive quizzes, flashcards, and multiple choice questions that include hints and explanations. Ace your exam and start your real estate career today!

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What is the maximum time a landlord has to inform a tenant about how funds are being held?

10 days
15 days
30 days
45 days

The correct answer is: 30 days

In Florida, a landlord is required to inform a tenant about how the security deposit funds are being held within 30 days of receipt of the deposit. This requirement is set forth in Florida Statutes, which protect the rights of tenants. The law ensures that tenants are aware of whether their deposits are being kept in an interest-bearing account or a non-interest-bearing account, as well as any other pertinent details regarding the handling of their funds. This transparency is essential for maintaining trust and clarity in the landlord-tenant relationship, and the 30-day timeframe is designed to allow landlords adequate time to communicate this information while also offering protection to tenants.