Governor Ron DeSantis recently signed 185 new laws that took effect on July 1, 2024, and several of them have a direct impact on the real estate market. From HOA transparency to builder warranties and insurance reforms, these changes matter whether you're buying, selling, or managing property. Here’s a look at the key legislation that could affect you.
HB 59 - HOA Rules and Covenants
Homeowners' associations (HOAs) are now required to provide both digital and physical copies of their rules and covenants to all members by October 1, 2024, and to new members moving forward. Updates must also be promptly communicated.
As a real estate professional, I’m thrilled to see this pass into law. Over the years, I’ve heard from countless homeowners frustrated by HOAs, often because they didn’t fully understand the rules upfront. This is a huge win for transparency, and while many agents gloss over these details, it’s something we’ve always made sure our customers are aware of.
HB 623 - Builder Warranties
This law mandates a one-year warranty for newly constructed homes, covering defects in materials, equipment, or workmanship that violate Florida’s Building Code. It does not cover issues due to normal wear and tear, house settling, natural disasters, or damage caused by buyers or their contractors.
This law mandates a one-year warranty for newly constructed homes, covering defects in materials, equipment, or workmanship that violate Florida’s Building Code. It does not cover issues due to normal wear and tear, house settling, natural disasters, or damage caused by buyers or their contractors.
Most builders already provide this, but it's great to see it formalized into law. It gives buyers an added layer of security and confidence when purchasing a new home.
HB 1021 - Community Associations
This bill introduces stricter management and accountability for community associations, be it condos or homes. It requires records to be returned by managers within 20 days after service agreements end, creates new record-keeping requirements, imposes criminal penalties for fraud, and mandates quarterly meetings for associations with 10 or more units.
This bill introduces stricter management and accountability for community associations, be it condos or homes. It requires records to be returned by managers within 20 days after service agreements end, creates new record-keeping requirements, imposes criminal penalties for fraud, and mandates quarterly meetings for associations with 10 or more units.
When you buy into a community, you’re not just buying the view or the neighborhood, you’re buying into the rules that come with it. This law underscores how important it is to understand the association's management before making that purchase.
HB 1029 - Condo Pilot Program
The "My Safe Florida Condominium Pilot Program", similar to the existing “My Safe Florida Home Program,” will help condo associations apply for grants that strengthen their buildings against storm damage and enhance their hurricane resilience.
The "My Safe Florida Condominium Pilot Program", similar to the existing “My Safe Florida Home Program,” will help condo associations apply for grants that strengthen their buildings against storm damage and enhance their hurricane resilience.
HB 1161 - Verification of Homestead Exemption
This law establishes a system with the Florida Department of Revenue to verify homestead exemption eligibility for veterans or surviving spouses based on the submission of necessary documentation.
This law establishes a system with the Florida Department of Revenue to verify homestead exemption eligibility for veterans or surviving spouses based on the submission of necessary documentation.
HB 1203 - Homeowners’ Associations
This law introduces several changes for HOAs, including requiring those with 100 or more parcels to post official records online by January 1, 2025. It also imposes criminal penalties for kickbacks and prohibits HOAs from requiring approval for interior modifications, HVAC installations, or banning vegetable gardens—as long as these cannot be viewed from the front of the property, an adjacent property, or common areas.
This law introduces several changes for HOAs, including requiring those with 100 or more parcels to post official records online by January 1, 2025. It also imposes criminal penalties for kickbacks and prohibits HOAs from requiring approval for interior modifications, HVAC installations, or banning vegetable gardens—as long as these cannot be viewed from the front of the property, an adjacent property, or common areas.
This is a key law that every homeowner in an HOA-governed community should be aware of. The updates not only ensure more transparency but also grant homeowners more freedom when it comes to making changes to their property without unnecessary interference. Be sure to review these changes closely.
HB 1503 - Citizens Property Insurance
This bill revises several aspects of Citizens Property Insurance, streamlining coverage options and permitting surplus line insurers to write policies on non-primary or non-homesteaded residences. Of note, it changes flood insurance requirements for Citizens policyholders, mandating that those who must purchase flood insurance for eligibility are now only required to buy dwelling coverage - not both dwelling and contents coverage. Additionally, it combines Citizens' Personal, Commercial, and Coastal accounts into one streamlined account, simplifying policy management. Citizens is also now authorized to share information with the National Insurance Crime Bureau to help fight insurance fraud.
This bill revises several aspects of Citizens Property Insurance, streamlining coverage options and permitting surplus line insurers to write policies on non-primary or non-homesteaded residences. Of note, it changes flood insurance requirements for Citizens policyholders, mandating that those who must purchase flood insurance for eligibility are now only required to buy dwelling coverage - not both dwelling and contents coverage. Additionally, it combines Citizens' Personal, Commercial, and Coastal accounts into one streamlined account, simplifying policy management. Citizens is also now authorized to share information with the National Insurance Crime Bureau to help fight insurance fraud.
This change simplifies coverage for property owners, especially those with secondary homes, while easing some of the flood insurance requirements. It's a significant shift for anyone using Citizens and should be closely reviewed if you're in an affected area.
HB 1611 - Insurance Changes
House Bill 1611 introduces several significant updates to Florida's insurance regulations. It requires property insurers to increase their reporting frequency to the Office of Insurance Regulation (OIR) from quarterly to monthly and to provide more localized data by ZIP code instead of by county. Additionally, the law limits the ability of surplus line insurers to cancel or not renew policies on properties with unrepaired hurricane or wind damage following a declared emergency, offering homeowners more protection.
Another key provision of this law is allowing Citizens Property Insurance to charge up to 50% above the established rate for policyholders previously covered by an "unsound insurer". and auth roofing contractors authorized to perform roof inspections for insurance assessments. Finally, the bill mandates that insurers use an average of at least two hurricane models for rate filings and justify any weighted averages used with the OIR, providing more transparency in how rates are calculated.
The law also introduces a requirement that insurers must use at least two hurricane models when determining rates and justify any weighted average used. Additionally, the bill raises the cap for per-loss occurrence amounts for Public Housing Authority self-insurance funds from $350,000 to an amount based on the fund’s sustainability. Roofing contractors are now included in the pool of authorized inspectors for insurance assessments, increasing the number of available professionals for this crucial service.
Moreover, the bill removes a provision allowing Citizens Property Insurance to charge up to 50% above standard rates for policyholders who were previously covered by an “unsound” insurer. This helps ensure more fair pricing for homeowners transitioning to Citizens from failed insurers.
These updates represent a concerted effort to stabilize Florida’s insurance market, improve transparency, and provide more protection to homeowners, particularly after natural disasters. It’s essential for homeowners and real estate investors to familiarize themselves with these changes to ensure compliance and take full advantage of the benefits.
SB 770 - Property Improvements
Senate Bill 770 expands the Property Assessed Clean Energy (PACE) program, which lets property owners make certain improvements to real property using annual non-ad valorem tax assessments. The program now allows financing for a broader range of property improvements, including roof repairs or replacements, waste systems upgrades, raising structures above flood elevation, building or repairing flood diversion apparatus, installing energy-efficient HVACs and water heaters, and replacing or installing insulation. This wider scope of eligible projects aims to enhance property resilience and energy efficiency.
Senate Bill 770 expands the Property Assessed Clean Energy (PACE) program, which lets property owners make certain improvements to real property using annual non-ad valorem tax assessments. The program now allows financing for a broader range of property improvements, including roof repairs or replacements, waste systems upgrades, raising structures above flood elevation, building or repairing flood diversion apparatus, installing energy-efficient HVACs and water heaters, and replacing or installing insulation. This wider scope of eligible projects aims to enhance property resilience and energy efficiency.
SB 7028 - My Safe Florida Home Program
This law increases funding from $107 million to $200 million for grants that help homeowners make storm-related improvements and repairs, continuing the efforts initiated in 2006 to reduce storm vulnerability and insurance costs. Applications for this program are currently closed, but will open again once more funding becomes available. Visit the website to sign up for alerts if this is something you'd like to apply for.
This law increases funding from $107 million to $200 million for grants that help homeowners make storm-related improvements and repairs, continuing the efforts initiated in 2006 to reduce storm vulnerability and insurance costs. Applications for this program are currently closed, but will open again once more funding becomes available. Visit the website to sign up for alerts if this is something you'd like to apply for.
Florida’s new laws are a clear step toward a more transparent and protected real estate environment. At the Duran Group, we are committed to helping you understand what these changes mean for you as a buyer or seller. From HOAs to insurance reforms to the new National Association of Realtors (NAR) settlement, we’re here to ensure you stay informed, so you can make confident, smart decisions in this ever-evolving market.
