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Florida Real Estate Wire - Real Estate News > Broward County Florida > Florida’s New Laws: A Major Shift for Property Owners and Condo Market

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Florida’s New Laws: A Major Shift for Property Owners and Condo Market

Florida property law changes

Florida’s real estate landscape is undergoing significant changes with new laws taking effect July 1, 2025. These legislative updates aim to enhance transparency for property owners, particularly in the condominium market, and address concerns surrounding HOA fees and building safety following past incidents. The changes are largely seen as a victory for property owners, though some critics argue they don’t fully tackle broader housing affordability issues.

Florida’s New Real Estate Laws: A Game Changer for Property Owners

The 2025 Florida legislative session has concluded, bringing forth a series of new laws and funding measures poised to reshape the state’s real estate market. The Florida Association of Realtors has hailed these changes as a "major victory" for property owners, emphasizing increased transparency and protections.

  • Key Takeaways:
    • Extended review periods for condominium buyers.
    • Increased transparency for condo association documents and meeting minutes.
    • Adjustments to Structural Integrity Reserve Study (SIRS) and milestone inspection requirements.
    • Financial assistance programs for essential workers and home fortification.
    • Repeal of the Business Rent Tax and new protections against squatters.

Condo Market Reforms and Transparency

Several new laws, including HB 913 and HB 393, specifically target the condominium market, aiming to add transparency for buyers and address concerns about rising HOA fees and building safety. These reforms are a direct response to past events, such as the Surfside condo collapse.

  • Key Changes for Condominiums:
    • Extended Buyer Review Period: Potential purchasers now have seven days (excluding holidays and weekends) to review association documents, up from three days. This applies to condominium, cooperative, and comprehensive rider contracts.
    • Document Transparency: Condo associations are now required to publish approved Board of Directors meeting minutes for the preceding 12 months on their websites. This helps prospective buyers identify potential special assessments.
    • Inspection and Reserve Study Adjustments:
      • The deadline for Structural Integrity Reserve Studies (SIRS) is extended to December 31, 2025, in some cases.
      • Milestone inspections and SIRS requirements now apply to buildings with three or more habitable stories, narrowing the previous scope.
      • Associations can temporarily pause reserve funding for two years immediately following a milestone inspection.
      • Condo associations have greater flexibility in meeting reserve requirements, including the ability to use lines of credit or Certificate of Deposit accounts if approved by a majority of owners.
    • Standardized SIRS Forms: The Department of Business and Professional Regulation and the Florida Building Commission will develop a standard form for SIRS, ensuring consistency and comparability.

Broader Impact on Property Owners

Beyond condominiums, the new legislation introduces several other significant changes benefiting property owners across Florida:

  • Financial Assistance:
    • Down-Payment Assistance: $50 million has been allocated for down-payment assistance programs specifically for essential workers, including teachers and first responders.
    • My Safe Florida Home Program: An additional $280 million has been provided to this program, which helps homeowners fortify their properties against hurricanes and other storms.
  • Commercial Property and Rentals:
    • Business Rent Tax Repeal: This move is expected to save Florida businesses over $900 million.
    • Squatter Protections: New laws enable quicker legal action for property owners to remove unlawful occupants from commercial and vacation rentals.
    • Flood Risk Disclosure: Increased requirements for flood risk disclosures for long-term renters.
    • Mobile Home Park Transparency: Enhanced transparency regarding mobile home park lot conditions.

While these legislative changes are largely welcomed by the real estate industry and many property owners, some lawmakers express concerns that they do not go far enough in addressing the state’s broader housing affordability crisis and property insurance issues.

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