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June 21, 2024
Public Policy Update
Hello everyone. Earlier this week, Gov. DeSantis received SB 280, the vacation rental bill we are opposed to, from the legislature. This kick starts the 15-day clock for the governor to take action on the bill.
As you have likely seen from our SB 280 veto campaign, we want vacation rentals to be regulated, but not at the expense of their very existence. That’s effectively what SB 280 would allow local governments to do – severely limit and/or block vacation rentals without any regard to the rights of owners who purchased the property.
So, how exactly does the bill do this? Well, for starters, it lets local governments:
- “Tax” short-term rental owners through unlimited fees.
- Suspend and take away vacation rental registrations using undefined violations.
- Force short-term rental owners to appeal disciplinary actions through the courts.
But that is just the tip of the iceberg. We haven’t even gotten into how devastating something like this would be on our tourism industry and our economy. For a more detailed analysis of the major concerns of the bill, click here.
We believe there is a compromise to be had, but we need time to work things out with stakeholders on both sides of this complicated issue. If the governor vetoes the bill, we can get back to work on legislation that strikes a fair balance between the rights of private property owners to rent their property on a short-term basis and the ability of local governments to regulate those rentals.
If you have not already, please consider emailing the governor and asking him to veto the bill by going to our Call for Action webpage.
Final Florida Realtors Legislative Priority Signed Into Law
Late last Friday, after our weekly update had already gone out, the governor signed HB 1021 – Community Associations. This is the bill that you may have heard our very own Trey Goldman talk about as “Condo 3.0” and it was a big priority for us this year because it requires an association managing a condominium with 25 (previously 150) or more units to post digital copies of official condominium documents on its website. These documents include condominium bylaws and rules, articles of incorporation, declaration of condominium, annual financial statements and budget, the FAQ sheet, building inspection reports, and reserve studies. This will significantly increase the transparency surrounding these units, which is something our members have been asking for.
There is a lot more to this new law which you can read about in this Florida Realtors news article.
FL’s GDP Growth Rate Doubles the National Rate Over the Last Five Years
Florida Commerce released the latest jobs and economic report today, and it shows that Florida’s real Gross Domestic Product (GDP) grew by 21.9 percent from the first quarter of 2019 to the first quarter of 2024, nearly double the national growth rate of 11.1 percent during the same period. Florida remains one of the world’s strongest economies, with an annual GDP of nearly $1.3 trillion. Florida also continues to lead the nation in new business formations, with more than 3 million formed since 2019 and over 266,000 formed already in 2024.
Florida’s private sector job growth rate continues to surpass the national rate, with a 2.2 percent increase (+192,000) compared to the national private sector job growth rate of 1.6 percent. In May 2024, the construction sector gained the most jobs among all major industries, adding 5,500 jobs (+0.8 percent) from the previous month. This was followed by the education and health services sector, adding 2,700 jobs (+0.2 percent).
Get the full report here.
NAR Settlement FAQs
NAR has been updating its settlement-related FAQs as information changes/becomes available. Get the latest FAQ document here.
US Environmental Protection Agency Revises Lead Paint Disclosure Form
NAR is reporting that the U.S. Environmental Protection Agency (EPA) finalized revisions to the Buyer/Seller and Landlord/Tenant Lead-Based Paint Disclosure form. The changes will help agents and consumers fill out the form correctly, standardize responses and reduce errors, thereby reducing agent liability.
The changes do not alter what information is required of agents or consumers — the form has been revised to improve and clarify how the information is conveyed. NAR staff has reached out to the EPA for any additional guidance on the changes to the form. Get more information by going here.
Convention Registration Now Open
We wanted to make sure you were aware that registration for the Aug. 21st Florida Realtors Annual Convention & Trade Expo is now open. Learn more about the convention, register and set your schedule by going the convention website.
Please reach out to us at publicpolicy@floridarealtors.org with any questions you may have.
Sincerely,
Andy Gonzalez
Vice President of Public Policy
Florida Realtors®
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