Florida’s 2025 legislative session has concluded, bringing significant changes to the state’s real estate landscape. New laws and funding initiatives aim to address housing affordability, property fortification, and commercial real estate concerns, marking what many are calling a major victory for property owners across the state.
Key Takeaways from Florida’s New Real Estate Laws
- Condominium Act Amendments: The new HB 913 bill, effective July 1, 2025, amends section 718.503 of the Florida Condominium Act. This includes extending deadlines for structural-integrity studies by one year and allowing a temporary two-year pause in reserve funding after milestone inspections. It also grants condo associations flexibility in meeting reserve requirements, permitting the use of lines of credit or loans with owner approval.
- Increased Transparency: The new law mandates condominium associations to include approved Board of Directors meeting minutes for the preceding 12 months on their websites. This enhances transparency for prospective buyers regarding special assessments. Additionally, a buyer’s right to cancel a contract is extended to seven days after receiving governing documents, aiming to reduce post-closing litigation.
- Down-Payment Assistance: A $50 million allocation has been approved for down-payment assistance programs, specifically targeting essential workers such as teachers and first responders, to facilitate homeownership.
- Property Fortification: The My Safe Florida Home Program received a $280 million boost to help homeowners fortify their properties against hurricanes and other storms.
- Business Rent Tax Repeal: The repeal of the Business Rent Tax is expected to save Florida businesses over $900 million, providing significant relief to commercial property owners.
- Squatter Protections: New legislation allows property owners, particularly those with commercial and vacation rentals, to take quicker legal action to remove unlawful occupants.
- Enhanced Disclosures: The session also introduced new requirements for flood risk disclosures for long-term renters and increased transparency regarding mobile home park lot conditions.
Impact on Property Owners and the Real Estate Market
Governor Ron DeSantis signed the condominium-related bill, acknowledging that previous laws, while well-intentioned, negatively impacted affordability. The extensions and flexibility provided by the new law aim to alleviate financial burdens on condo unit owners who faced rising costs due to assessments for inspections and reserves. The Florida Association of Realtors has hailed these changes as a significant win, emphasizing the importance of supporting both supply and demand in the housing market.
Addressing Affordability and Future Challenges
While many celebrate these legislative changes, some lawmakers express concerns that the session did not go far enough to address broader housing issues, such as the ongoing crisis of housing affordability and out-of-control property insurance rates. Despite these criticisms, the comprehensive package of new laws and funding measures is set to reshape Florida’s real estate landscape, providing relief and new opportunities for many property owners and prospective buyers.
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.