Residential Rentals in Florianópolis: Yields, Guarantees and the Tenancy Law

Long-term renting is the other side of real estate investment in Florianópolis, quite distinct from seasonal rental: stable contracts, less hands-on management, and a yield best assessed with the real numbers.

What it earns today

According to the FipeZAP index, gross residential rental yield in Florianópolis was 5.60% per year in December 2025 (5.58% a year earlier), in line with the national average of 5.96%. Smaller units yield more: nationwide, a studio returned 6.68% against 4.90% for units with four or more bedrooms. It's an attractive yield, but below fixed-income returns while the Selic held at 15% through 2025; and the net yield, after IPTU, condo fees and vacancy, is lower.

The asking rent in Florianópolis was R$ 59.77/m² in December 2025, the fourth most expensive among state capitals, up 10.39% in 2024 — more than double that year's inflation.

The guarantees the law allows

The Tenancy Law (Lei 8.245/1991) sets a closed list of four guarantees, and the landlord may require only one; demanding more than one is an offense (Art. 37 and 43):

• Security deposit: in cash, capped at three months' rent, held in a savings account in the tenant's name.
• Guarantor: a third party who proves property ownership and income; no cost to the tenant, but increasingly hard to find.
• Surety bond insurance: paid by the tenant, typically costing the equivalent of 8%–15% of monthly rent per year; it's the fastest-growing segment.
• Fiduciary assignment of fund shares; in practice, a capitalization bond is also used as a variant of the security deposit.

Term, exit and adjustment

The market standard is a written 30-month contract: at expiry, the landlord can recover the property without cause (denúncia vazia, Art. 46). The tenant can leave early by paying a penalty proportional to the time remaining, with no penalty when moving for a job relocation. The adjustment is at minimum annual and is usually indexed to the IGP-M, the IPCA, or the FGV's IVAR — after the IGP-M spikes of 2020–2021, much of the market shifted to the more stable IPCA.

Demand that underpins the rental market

Santa Catarina was Brazil's top migration destination in the 2022 Census (net inflow of +354,350 people), and more than 84,000 people moved to Florianópolis between 2017 and 2022. With purchases made costlier by high rates, much of that demand turned to renting: negotiation discounts fell to historic lows and properties are renting faster.

Sources

• FipeZAP+ — Residential Rental Index, December 2025 (yield and asking rent).
• Lei nº 8.245/1991 (Tenancy Law), arts. 37, 38, 43, 46 — Planalto.
• SUSEP / CQCS — growth of rental surety bond insurance (2025).
• FGV — IGP-M and IVAR indices; IBGE — IPCA.
• IBGE — 2022 Census, migration balances for Santa Catarina and Florianópolis.
• QuintoAndar — tight rental market and negotiation discounts.