Florida’s 2025 legislative session has concluded with significant new laws impacting property owners, hailed as a major victory by the Florida Association of Realtors. These changes aim to enhance transparency, extend deadlines for inspections, provide financial relief, and empower condo owners, while also addressing broader housing and real estate concerns across the state.
Florida’s New Real Estate Laws: A Win for Property Owners and Condo Residents
Florida Governor Ron DeSantis has signed into law a series of bills designed to reshape the state’s real estate landscape, with a particular focus on condominium reforms and broader property owner protections. These legislative efforts, largely supported by Florida Realtors, are set to take effect on July 1, 2025.
Key Takeaways
- Condo Reforms: New laws extend inspection deadlines, narrow application of milestone inspections and structural integrity reserve studies (SIRS), and offer flexibility in reserve funding.
- Financial Relief: The legislation allows a temporary two-year pause in reserve funding post-milestone inspection and permits condo associations to use lines of credit for reserve obligations with owner approval.
- Increased Transparency: Condo associations must now post BOD meeting minutes online for the preceding 12 months, and buyers have an extended right to cancel contracts.
- Affordability Initiatives: $50 million is allocated for down-payment assistance for essential workers, and $280 million boosts the My Safe Florida Home Program.
- Business and Rental Protections: The Business Rent Tax is repealed, and new laws provide swifter action against squatters.
Empowering Condo Owners and Enhancing Transparency
One of the most significant aspects of the new legislation is its impact on condominium owners. The previous reforms, enacted between 2022 and 2024, introduced requirements for milestone inspections and SIRS, leading to increased costs for many unit owners. The new law addresses these concerns by:
- Extending the deadline for SIRS to December 31, 2025.
- Narrows the application of milestone inspections and SIRS from buildings three stories or more to three habitable stories or more.
- Allowing a temporary two-year pause in reserve funding immediately following a milestone inspection.
- Providing flexibility for condo associations to meet reserve requirements.
- Permitting associations to use lines of credit for reserve obligations if approved by a majority of owners.
Furthermore, the new law significantly improves transparency for prospective condo purchasers. Associations are now required to include approved Board of Directors (BOD) meeting minutes for the preceding 12 months on their websites. This measure aims to inform potential buyers about special assessments that have not yet been formally adopted, reducing post-closing litigation. Buyers also gain an extended right to cancel their contract to seven days after receiving governing documents.
Broader Impact on Florida Property Owners
Beyond condominiums, the legislative session delivered several wins for property owners across the state:
- Down-Payment Assistance: A $50 million allocation will support down-payment assistance programs for essential workers, including teachers and first responders, aiming to boost homeownership.
- Home Fortification: The My Safe Florida Home Program receives an additional $280 million to help homeowners fortify their properties against natural disasters.
- Business Rent Tax Repeal: Commercial property owners will benefit from the repeal of the Business Rent Tax, a move expected to save Florida businesses over $900 million.
- Squatter Protections: New legislation allows for quicker legal action to remove unlawful occupants, particularly in commercial and vacation rentals.
- Rental Transparency: The session also introduced new requirements for flood risk disclosures for long-term renters and increased transparency regarding mobile home park lot conditions.
While these new laws are largely celebrated by the real estate industry, some critics argue that the legislature did not go far enough to address the state’s broader housing affordability and property insurance crises.
Sources
- Realtor-Supported Condo Bill Becomes Law, | Florida Realtors.
- New Florida laws will impact property owners: Here’s what to know, FOX 13 Tampa Bay.
- New Florida real estate laws hailed as ‘major victory’ for property owners, MPA Mag.