If you are collecting tenant security deposits in advance of rental and such deposits are comingled with other deposits, you are required under the Florida Statutes Section 83.39 to file a Florida Landlord and Tenant Security Deposit Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Florida Landlord and Tenant Security Deposit Bond holds you accountable for your business decisions.
By possessing a Florida Landlord and Tenant Security Deposit Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.