New Laws Going Into Effect For Landlords
The rental housing Bill HB 1417 and local ordinance bill SB 170
If you haven’t already heard, as of July 1st 2023 new Florida laws have gone into effect that affect landlord and tenant relationships. These new laws are a big win for landlords! Landlords no longer have to worry about different rules and regulations in different counties. The new bill now creates one set of rules that governs landlords and tenants. Many landlords, investors, and builders stopped investing in housing in areas that imposed strict rules for landlords to follow and hefty fines when they were broken. This bill will encourage more real estate investments in areas that need an increase in housing.
Here are some key takeaways to make note of.
HB1417 impacts local rental regulations. Under this bill, landlords will not have to worry about local regulations that usually create confusion between landlords and tenants. The residential tenancies regulations will now fall under state law. Many areas that are heavily populated like Broward County have had local governments pass ordinances commonly referred to as “tenant bill of rights” that usually impose stricter regulations than current state laws listed in the Florida Residential Landlord and Tenant Act.
The bill also works on creating new affordable rental housing in Florida over the next 10 years.
SB 170 will now help local businesses (including vacation rental companies) take a stand against regulations that may cause them economic harm and hardship by giving them new tools to challenge any unnecessary and burdensome regulations.
Please note that this is an overview and investors should consult an attorney regarding how these laws may impact their legal rights and responsibilities. The information above should not be construed as legal advice or representation.
