Bill > H1593

This bill, named the "Real Affordable Housing Relief Act," aims to restrict large business entities from purchasing and leasing single-family residential properties in Florida. Specifically, the bill prohibits any business entity (defined broadly as companies, corporations, partnerships, real estate investment trusts, etc.) that already owns more than 100 single-family residential properties in the state from buying additional single-family homes with the intent to lease or rent them. The bill defines single-family residential property as a parcel with one detached dwelling unit that has a certificate of occupancy. If a business entity violates this restriction, the Attorney General can bring a civil action that would result in a $100,000 penalty for each violation, mandatory sale of the property to a natural person or independent third party within one year, and payment of attorney fees and costs. The bill includes exceptions for nonprofit entities and organizations primarily engaged in residential housing acquisition, rehabilitation, or construction. The legislation is set to take effect on July 1, 2025, and is intended to help prevent large corporate entities from monopolizing the single-family housing market and potentially driving up housing costs for individual homebuyers.

Housing and Urban Affairs

https://www.flsenate.gov/Session/Bill/2025/1593