Tired of Being a Landlord? Your Options in Florida (and How to Hand Off Your Rental, Even Mid-Lease)

Written by Jon C. Schmitt, Licensed Florida Real Estate Broker (BK645858) and Owner, True Patriot Property Management. Updated October 2026.

The 9 p.m. call about a leaking water heater. The tenant who is “a few days late” again. The weekend you spend between showings instead of with your family. If owning a rental has started to feel like a second job you never applied for, you are not alone, and you have more options than you might think. Here is a straight look at each one, and exactly how to hand off your Florida rental if you decide you are done doing it yourself.

The quick answer

If you are tired of being a landlord, you have three real choices: hire a property manager and keep the income, sell the property, or keep self-managing with better systems. For most owners who still want the rental income and long-term appreciation, handing it to a manager fixes the burnout without giving up the asset. You can make the switch at any time, even in the middle of a lease.

Signs you are burned out on being a landlord

• You dread your phone ringing, especially at night or on weekends
• You have put off raising the rent because you do not want the conversation
• Repairs sit longer than they should because coordinating vendors is a hassle
• You are not sure your lease, deposit handling, or notices would hold up if challenged
• Your rental is costing you time you would rather spend on work, family, or your next investment
• You live far away now, or you are planning to move

If three or more of these sound familiar, it is worth looking at your options seriously. The hidden costs of self-managing often add up to more than owners expect.

Option 1: Hire a property manager and keep the income

This is the option most tired owners choose, because it removes the work without selling an asset that is still building value. A full-service manager typically handles:

• Rent collection, late notices, and monthly owner statements
• Maintenance requests, vendor scheduling, and emergencies
• Tenant communication, renewals, and rent increases
• Inspections, required notices, and Florida compliance
• Marketing, showings, and screening when a unit turns over

Most Florida property managers charge about 8% to 12% of collected rent, plus a leasing fee when they place a new tenant. The headline percentage is only part of the story, so ask about maintenance markups and add-on fees. Here is what property management really costs in Florida, and you can see our pricing up front.

Option 2: Sell the property

If you are done with real estate entirely, or you need the equity for something else, selling may be the right call. You can sell vacant or with a tenant in place:

• Vacant: usually the widest pool of buyers, including owner-occupants, but you carry the property empty while it is on the market.
• With a tenant in place: in most cases the lease stays in effect after the sale and the buyer becomes the new landlord. This appeals to investors who want income from day one.

Either way, Florida law requires any security deposit and advance rent to be transferred to the new owner along with an accurate accounting (Section 83.49(7)). Before you decide, compare what the home could sell for against what it could earn as a rental. A free market evaluation from a licensed broker shows you both numbers side by side.

Option 3: Keep self-managing, but fix the worst parts

Some owners simply need better systems. If you want to stay hands-on, start here:

• Collect rent online with automatic reminders instead of chasing checks
• Write down screening standards and apply them the same way to every applicant
• Build a short list of reliable vendors before you need them
• Keep a repair reserve so surprise bills do not become emergencies
• Use a lease that is current with Florida law, including entry, deposit, and early termination terms

Our guides to Florida lease agreements and Florida security deposit laws are a good place to start.

Which option fits you?

Option	Best if you…	Trade-off
Hire a property manager	Want to keep the income and appreciation without the work	You pay a management fee
Sell the property	Are done with real estate or need the equity now	You give up future rent and appreciation, and pay selling costs
Self-manage with better systems	Enjoy being hands-on and live nearby	The calls, repairs, and legal risk stay with you

How to hand off your rental, even mid-lease

Switching to a property manager does not require waiting for the lease to end. Here is how a typical handoff works:

1. Gather your records. The current lease and any addenda, the security deposit amount and where it is held, keys and access codes, your vendor list, and any move-in photos or inspection reports.
2. Sign a management agreement. Read it for the fee structure, term, and how either side can end it.
3. Transfer the deposit with an accounting. Florida requires deposits and advance rent to move to the new agent along with an accurate accounting (Section 83.49(7)).
4. Notify the tenant in writing. Under Section 83.50, the tenant must be told the name and address of whoever is authorized to receive notices and demands. The previous person keeps that authority until the tenant is notified otherwise, so do not skip this step.
5. Do a walkthrough. A fresh inspection creates a clear baseline for the property’s condition from day one.
6. Set up payments and reporting. The tenant starts paying the manager, and you start receiving statements instead of phone calls.

Switching from your current property manager

Tired of chasing your manager instead of your tenants? Switching works much the same way:

• Read your management agreement for the notice period, any termination fee, and what happens to tenants the manager placed
• Line up your new manager before you give notice so there is no gap
• Give written notice and request the lease, ledgers, deposit records, keys, and maintenance history
• Confirm the deposits are transferred with an accounting, which Florida requires when the designated rental agent changes (Section 83.49(7))
• Make sure the tenant receives written notice of the new manager’s name and address

Not sure if it is time to switch? Here are the property manager red flags we see most often.

Frequently asked questions

What should I do if I am tired of being a landlord?

You have three real options: hire a property manager and keep the rental income, sell the property, or keep self-managing with better systems. If you still want the income and long-term value of owning, hiring a manager usually solves the burnout without giving up the asset.

Can I hire a property manager while a tenant is already living in my rental?

Yes. The existing lease stays in place. Your manager takes over rent collection, maintenance, and communication, receives the security deposit with an accounting, and notifies the tenant in writing of the new name and address for notices and payments.

Can I sell my Florida rental with a tenant in it?

Yes. In most cases the lease stays in effect after the sale and the buyer becomes the new landlord. Florida law requires the security deposit and any advance rent to be transferred to the new owner along with an accurate accounting.

How do I switch property management companies in Florida?

Review your current management agreement for the notice period and any termination fee, give written notice, and line up your new manager first. Under Florida law, security deposits and advance rents must be transferred to the new agent with an accounting when the designated rental agent changes.

How much does a property manager cost in Florida?

Most Florida property managers charge about 8% to 12% of collected rent, plus a leasing fee when they place a new tenant. Always ask about maintenance markups and other add-on fees, which can matter more than the headline percentage.

The bottom line

Being tired of landlording does not mean you have to give up your rental. You can hand off the work and keep the income, sell if you are truly done, or tighten up your systems if you want to stay hands-on. If you choose a manager, the handoff can happen any time, even mid-lease, as long as the deposit moves with an accounting and your tenant is notified in writing. If you want to talk it through, reach out to our team or schedule a free market evaluation to see what your property could rent or sell for.

This article summarizes Sections 83.49 and 83.50, Florida Statutes (2026), and is general information, not legal or tax advice. For your specific situation, consult a Florida attorney or tax professional.