FL S0884

Authorizes landlords to offer tenants the option to pay a fee in lieu of a security deposit under a written agreement signed by both parties.

Requires landlords offering the fee option to provide written notice explaining the tenant's right to pay a traditional security deposit instead and whether additional charges apply.

Allows fees to be structured as recurring monthly payments due with rent or on a custom schedule agreed upon by both parties.

Specifies that fee payments, insurance products, and surety bonds accepted instead of security deposits are not considered security deposits under Florida law.

Requires landlords who offer the fee option to offer it to all new tenants on the same premises, unless the landlord prospectively terminates the option for all future leases, effective July 1, 2022.