Overview
A contract to lease is the Florida Realtors®/Florida Bar form landlords receive as a tenant's formal offer before an actual lease is signed — it sets rent, deposit, lease term, and condo association approval details, but it isn't the lease itself and gets superseded by it once signed. When you list a Miami condo for rent with an agent, offers arrive as contracts to lease along with supporting documents like income verification and a credit report, and evaluating them well — not just accepting the highest rent number — is what actually gets you a reliable tenant.
What is a Contract to Lease?
The contract to lease is an agreement between landlord and tenant that sets the conditions for an actual lease; it functions as the tenant's offer. It's drafted by the Florida Realtors Association and Florida Bar to standardize how agents submit rental offers to landlords on behalf of tenants.
What's in the Contract to Lease?
Along with the property address and the parties involved, a contract to lease typically includes:
- A deadline for the lease agreement to be signed
- Who will prepare the lease
- The deposit amount showing intent to lease
- Details about the property
- The lease term
- Money due before occupancy
- Rent payment information
- Which utilities are included
- Maintenance responsibilities for landlord and tenant
- Condo association approval details, including who pays the fee and the application deadline
- The agents involved in the deal
Is a Contract to Lease the Same as an Actual Lease?
No. A lease is the legal document establishing the actual terms and conditions between landlord and tenant. A contract to lease is the agreement that outlines what those terms will be once the actual lease is signed.
Is the Contract to Lease Legally Binding?
Yes, it's meant to be legally binding, but the lease supersedes it — if the two documents conflict, the lease controls. If the tenant fails to follow through on the contract's terms, the landlord may retain the tenant's deposit as liquidated damages; if the landlord fails to perform, the tenant is typically entitled to their deposit back.
In practice, in most Miami deals the contract to lease functions mainly as the offer, and rarely becomes a legal dispute on its own. Many agents specify that a deposit is due "upon acceptance of offer" or "upon lease signing," which protects the tenant's deposit if they change their mind before the actual lease is signed.
Supporting Documents That Should Accompany the Offer
A tenant's agent should let the tenant know what documents need to accompany the contract to lease. As the landlord, expect to receive:
- Photo ID — a valid state license or passport.
- Credit score/report and background screening — most condo buildings have a property manager who runs credit and background checks as part of the association application, but landlords may also request an application with its own credit pull.
- Income verification — typically the last three pay stubs or three months of bank statements.
- Earnest money — usually one month's rent, held to secure the unit before lease signing.
How to Evaluate Offers
Review the contract to lease and its supporting documents carefully, and contact any references provided. Check:
- The proposed rent price
- What terms the prospect is proposing
- Their income and job stability
- Credit score and report
- Background screening
- The proposed lease start date
Pro tip: Interview the prospect in person or over video call, with their offer in hand, and confirm details like employment directly.
Interviewing Prospective Tenants
Ask about the job, income, and credit information submitted with the contract to lease. This confirms whether they can realistically afford the rent and are likely to pay on time. Asking about their reason for wanting the property can also give you a sense of how they'll treat it. If you have multiple offers, focus interviews on your top candidates rather than everyone who applied.
What to Do With Multiple Offers
When more than one prospective tenant makes an offer, weigh credit scores, income, and rental history alongside the proposed terms. Your options:
- Accept the best offer if an ideal prospect has made a strong offer.
- Counter the best offer if your preferred tenant isn't offering the highest price.
- Counter all offers if several prospects look ideal — ask each for their highest and best offer.
- Reject all offers if none of the prospects or rent prices meet your bar.
Once you've chosen a prospect, notify your agent so they can inform the tenant's agent and prepare the actual lease.
