Bill > S1810

This bill creates a new law restricting large business entities from purchasing and renting single-family homes in Florida. Specifically, the bill defines a "business entity" as various types of legal organizations (like corporations, LLCs, and partnerships), with exceptions for nonprofit entities and residential construction companies. A "single-family residential property" is defined as a parcel with one detached dwelling that has a certificate of occupancy. The key provision prohibits business entities that own more than 1,000 single-family residential properties from purchasing additional single-family homes and then leasing or renting them out. If a business entity violates this restriction, the Attorney General can bring a civil action that includes a $100,000 penalty for each violation, a requirement to sell the property to an independent third party within one year, and payment of attorney fees and costs. The bill protects sellers from liability for any violations by the purchasing business entity and establishes these legal remedies as the exclusive method for addressing such violations. The law is set to take effect on July 1, 2025, and appears aimed at preventing large corporate entities from dominating the single-family home rental market.

https://www.flsenate.gov/Session/Bill/2025/1810