Florida's New Laws Spell Significant Change for the Real Estate World

July first was a fairly huge day for FL - over a hundred and fifty totally different new laws were place into impact, several of which can have a big impact on people who own and rent homes not solely within the metropolitan Jacksonville space, however all across the state.

Here square measure a couple of of the most important highlights of those laws and what they may mean to you:

According to new FL Law HB77, there square measure new provisions that create it easier for landlords to evict tenants UN agency solely create partial payments on their rent. Now, once a tenant makes a partial payment, they solely have a matter of DAYS to pay the remaining balance before eviction proceedings will begin.

According to this same law (Florida Law HB77) there's a replacement 2 strikes and your out policy. this suggests that if a tenant breaks rules of their lease (like parking violations or having unauthorized pets) twofold in ONE year, they'll be evicted.

Not all of the laws were negative, though. One law, FL Law SB342, eases homestead exemptions for people who have a homestead exemption however ought to rent their homes briefly. This doesn't provide long-run leases or rentals, however will defend some owners UN agency notice themselves in temporary binds (up to at least one month of rentals per annum.)

Another FL Law HB87 conjointly makes some important changes to the legal proceeding method here in FL, wherever we've got the best variety of foreclosures within the nation. this can do variety of things, together with inserting a larger burden of proof on lenders once it involves pursuit and maintaining the possession and default standing. It conjointly drops the statute of limitations for banks to travel when foreclosed homeowners and judgments from 5 years all the way down to one year.