Big Legislative Wins for Florida Property Owners and the Real Estate Market

South Florida homeowners, real estate investors, and business owners have good reason to celebrate. This year’s Florida legislative session wrapped up with a series of major wins that will positively impact property values, homeownership opportunities, and the overall real estate market across the region.

Business Rent Tax Eliminated—A $900 Million Win

A long-awaited change has finally become law: Florida’s business rent tax (BRT) has been completely eliminated. This move is expected to save property owners and tenants over $900 million annually. Florida had been the only state in the country to impose a sales tax on commercial leases. Previously reduced from 4.5% to 2%, the full elimination of the tax marks a major step toward economic growth for business owners and investors across the state.

According to southfloridaagentmagazine.com, this change will ease the financial burden on Florida’s employers, making it easier for them to expand operations, hire new staff, and invest in their communities.

Increased Support for First-Time Homebuyers

Affordable housing also saw a major boost this session. Legislators approved an additional $50 million in funding for the Hometown Heroes Housing Program, designed to help working Floridians purchase their first home in the communities where they live and work.

Since launching in 2021, the program has already helped over 20,000 residents become homeowners. It offers up to $35,000 in down payment assistance—or 5% of the first mortgage amount—for full-time workers earning under 150% of their county’s median income.

Additional funding was allocated to long-standing housing initiatives:

• $163.8 million for the State Housing Initiatives Partnership (SHIP), which provides closing cost and down payment assistance.
  
• $71.2 million for the State Apartment Incentive Loan (SAIL) program to increase the supply of affordable rental housing.
  

Programs like these are helping bridge the gap for thousands of first-time buyers in today’s competitive real estate landscape. Alex Algarin and The Algarin Group are committed to keeping you informed about resources that make homeownership more accessible.

More Flexibility for Condominium Owners

Florida’s new condo reform bill (HB 913) introduces important changes to benefit condominium associations and owners. The legislation extends the deadline for mandatory building inspections to December 31, giving communities more time to meet structural safety requirements.

Condo boards now also have the ability to vote on financing new reserve requirements, providing owners with more time and financial flexibility when it comes to covering upcoming assessments.

New Anti-Squatter Laws Now in Effect

Two new laws took effect on July 1 to combat squatting and protect property owners from unauthorized occupancy and misuse. The new provisions strengthen the rights of commercial property owners and hotel operators, while introducing faster eviction processes and criminal penalties for fraudulent occupancy claims.

Key points include:

• Expedited eviction procedures for unauthorized tenants on commercial properties.
  
• Clearer rules for classifying hotel/motel guests as transient unless specified in writing.
  
• Flexible notice delivery via email, text, or printed form.
  
• Criminal charges up to first-degree felony for squatters involved in fraudulent leasing or property access schemes.
  

These updates offer added protection for landlords, investors, and hospitality businesses, reinforcing the importance of secure property ownership.

Continued Advocacy for South Florida Real Estate

While these wins are impressive, they represent just part of an ongoing effort to strengthen Florida’s housing market. Advocacy groups continue to work closely with state and national legislators to protect homeownership, private property rights, and fair real estate practices.

From Tallahassee to Capitol Hill, real estate leaders are pushing forward on policy that benefits buyers, sellers, investors, and communities alike.

Stay Informed with The Algarin Group

At The Algarin Group, we’re committed to helping you stay ahead of the curve. Whether you’re buying, selling, or investing, we keep you updated on the latest developments shaping the real estate market in Miami and across South Florida.

Have questions about how these legislative changes may affect your property goals? Let’s talk.

Alex Algarin and The Algarin Group – your trusted source for South Florida real estate news and insights.

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Source: southfloridaagentmagazine.com