Major Legislative Wins for Florida’s Real Estate Sector: A Look at the 2025 Session

The 2025 legislative session in Florida marked a pivotal moment for real estate professionals and property owners in South Florida, thanks to significant advocacy efforts by industry leaders. Key achievements include the elimination of Florida’s business rent tax and enhanced funding for affordable housing initiatives.

Elimination of Business Rent Tax

One of the standout victories from the session was the elimination of Florida’s business rent tax (BRT), projected to save residents approximately $900 million annually. The BRT’s removal is anticipated to relieve the financial burden on employers across the state. This tax, which was unique to Florida, previously imposed a sales tax on commercial rents. Advocates have been campaigning for this change for over a decade, successfully reducing the BRT from 4.5% to 2% last year.

Benefits of Eliminating the BRT

• Encourages Business Growth: Without the tax, businesses can allocate funds toward expansion and hiring.
• Benefits to Employees: Easier business operations may result in a better work environment for employees.

Enhancements in Affordable Housing Funding

Another major highlight from the legislative session was the increased funding for the Hometown Heroes Housing Program, securing $50 million to aid Florida families in purchasing their first homes. Since its inception in 2021, this program has enabled over 20,000 Floridians to buy homes in their local communities.

Funding Breakdown

• Hometown Heroes Housing Program: $50 million
• State Housing Initiatives Partnership (SHIP): $163.8 million
• State Apartment Incentive Loan (SAIL): $71.2 million

Eligibility Criteria for Hometown Heroes Program

• Open to full-time workers in Florida.
• Income must be less than 150% of the county’s area median income.
• Maximum down payment assistance of $35,000, or 5% of the first mortgage amount.

Condo Reform Bill

In an additional legislative win, Florida Governor Ron DeSantis signed a condo reform bill (HB 913) that extends deadlines for condominium associations to pay new assessments for maintenance and repairs. This amendment facilitates a more manageable financial structure for condo owners while ensuring efficient maintenance of properties.

Key Features of the Condo Reform Bill

• Extended Inspection Deadline: Inspections now have a deadline of December 31.
• Flexible Financing Options: Condo associations can vote on financing new reserve requirements.

New Anti-Squatter Laws

Two important bills were also signed into law to curb squatting in Florida. Effective July 1, these measures aim to protect property owners’ rights more effectively.

Legislative Highlights

• SB 322: Expedites eviction procedures for unauthorized occupants of commercial properties and simplifies the reclaiming process for property owners.
• SB 606: Clarifies the rights of hotel and motel owners against guests who do not comply with payment terms, deeming guests transient unless a different agreement is in place.

New Notification Procedures

Squatters must now receive written notice, which can be delivered via email, text, or printed form, enhancing flexibility in communication.

Penalties for Squatting

The new laws introduce penalties of up to a first-degree felony for squatters involved in illegal activities related to leased properties.

Ongoing Advocacy Efforts

The advocacy work continues, with committed efforts to protect the interests of South Florida property owners through initiatives like Capitol Hill visits and participation in events such as Great American Realtor Days. These efforts ensure that the real estate industry is well-represented and heard in legislative discussions.

For more comprehensive insights about Florida’s real estate landscape or to learn about upcoming advocacy events, explore the official state resources or engage with your local real estate professionals.

This article highlights the crucial developments from Florida’s 2025 legislative session, showcasing how targeted advocacy can lead to substantial changes benefiting the local economy and community. For continuous updates, stay connected with reputable real estate news outlets and local advocacy organizations.