With all the short sales and foreclosures occurring in the Florida real estate marketplace, renters need to know their rights under the recently passed Distressed Condominium Relief Act. Otherwise, they might just find themselves at odds with their landlord and the units association.
Under the new law that went into effect in June, associations are now allowed to collect rent directly from tenants residing in units that are delinquent on their fees. Refuse to pay heed to the association’s demands and you could find yourself facing an eviction notice from the community.
Bankrate has released its annual survey on home closing costs again this week. In Florida, the news was actually better than expected. For 2010, the closing costs on a $200,000 home purchase averaged $3,987, a rise of $381 over last year’s cost of $3,368. And, while still expensive, Florida’s number dropped it from No. 3 on last year’s list to No. 12 this year.
While Florida already had one of the toughest 
As was expected, Governor Crist signed the Distressed Condominium Relief Act on Tuesday. The new law expands the powers of community associations when it comes to dealing with delinquent unit owners and makes it easier for lenders to approve bulk sales on foreclosed units. It also repealed the requirement that individual unit owners carry additional hazard insurance above the association’s policy.
The 2010 hurricane season is set to begin this week and it is important for Southwest Florida residents to pay attention and be prepared. With three years of relatively quiet storm seasons, it’s easy to become complacent. However, ignoring the possibility of a major storm coming our way can be a major mistake. All you have to do is remember two very important points:
