Special offer

Florida legislative wrap up 2023 for the real estate industry

Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826

The Florida legislature finished up their 2023 annual session on May 5. This was a very active year for the real estate industry legislatively and frankly a little exhausting for me to keep up with.

We were actively monitoring 23 real estate related bills being bantered about the halls in Tallahassee. 10 of these bills passed and are on their way to the governor to sign or veto.  The full text of all these bills is available at https://flsenate.gov under the “enrolled” version in the links below. Please make sure to always consult your own attorney if you have specific questions on how a law might affect your business.  Here is a summary of what happened during this session.

HB 102: https://www.flsenate.gov/Session/Bill/2023/102  This is a 110-page long affordable housing bill known as the “Live Local Act.”  It changes rules about zoning density, tax incentives, infrastructure requirements, and many other things.  The big thing it did for us real estate investors is that it eliminates local cities’ and counties’ ability to pass “rent control” ordinances like they did in Orange County in 2022.  This bill has already been signed by the governor and is now law. It goes into effect on July 1, 2023.

HB 133https://www.flsenate.gov/Session/Bill/2023/133  This bill creates a new statute, section 83.491 which allows landlords to give tenant’s an option to pay a “fee” in lieu of paying a security deposit.  The law goes into great detail about charges, deductions, insurance claims, and more.  It also requires a special disclosure to be signed by the tenants.  It goes into effect on July 1, 2023.

SB 154https://www.flsenate.gov/Session/Bill/2023/154  This is a 77-page long bill regarding condominium and cooperative complexes.  It covers inspections, insurance, duties of the associations, duties of developers, and much more.  It goes into effect upon becoming law.

SB 574https://www.flsenate.gov/Session/Bill/2023/574  This tweaks section 83.682, Florida Statutes, of the landlord/tenant act regarding termination of leases of servicemembers. It further details the definition of “government quarters” in the statute. It goes into effect on July 1, 2023.

SB 708https://www.flsenate.gov/Session/Bill/2023/708  This makes changes to sections 701.04 and 701.041, Florida Statutes regarding the timeframes for mortgage lenders to provide payoffs and estoppel letters.  In most instances this has been reduced to 10 days now.  It goes into a lot of detail about properties in foreclosure, limitations on fees, timelines, and more. It goes into effect on October 1, 2023.

HB 761: https://www.flsenate.gov/Session/Bill/2023/761  This bill amends section 501.059, Florida Statutes regarding telephone marketing, text messages, and voicemails.  Definitely read up on these changes if you are using any of this technology to contact property owners.  It goes into effect upon becoming law. 

HB 770: https://www.flsenate.gov/Session/Bill/2023/770 This bill amends the real estate license law by creating section 475.279.  It defines and then regulates “residential loan alternative agreements.”  There are some creative brokerages that were recording liens / clouds on title in order to create decades long listing agreements (some up to 40 years in duration).  You can read in more detail about the creative liens in this Tampa Bay Times newspaper article: https://www.tampabay.com/news/real-estate/2022/09/06/florida-company-pays-quick-cash-to-list-your-home-the-catch-a-40-year-contract/ .  It goes into effect on July 1, 2023.

HB 1185: https://www.flsenate.gov/Session/Bill/2023/1185 This is an 82-page long bill that makes changes to the mortgage licensing law.  It also regulates “crowd funding” campaigns looking to raise money for certain transactions.  There is a lot to read here.  It goes into effect on July 1, 2023.

HB 1417: https://www.flsenate.gov/Session/Bill/2023/1417 This bill amends the landlord/tenant act.  It creates a new section 83.425, Florida Statutes which preempts all regulation of rental properties, landlords, and tenants to the State of Florida.  This new statute basically terminates all local city and county created “tenant bill of rights” and other overlays of Chapter 83.  The bill also tweaks section 83.57 by now requiring 30 days’ notice on any month-to-month agreements.  And tweaks section 83.575 by now requiring between 30- and 60-days’ notice of non-renewal of long-term leases.  This goes into effect on July 1, 2023.

HB 1419: https://www.flsenate.gov/Session/Bill/2023/1419 This bill attempts to combat real estate fraud by creating new statutes. Sections 28.2225 and 28.47 requires county recording offices to create a fraud alert registry.  New section 65.091 regarding quieting the title of fraudulently conveyed property.  And new section 689.025 regarding the statutory requirements for a “quitclaim deed.” This goes into effect on July 1, 2023.

If anyone becomes aware of any legislative issues that might affect the real estate industry in Florida, please reach out to me.  We are stronger by sticking together. 

Catherine Riggleman
VBC - Anchorage, AK

Thanks for the info! You can have fun with tiny fishing

Jan 02, 2024 11:48 PM