Can I Rent Out My Home Or Condo?
Florida’s real estate market seems to constantly be in a state of flux in this day and age, and more and more people are purchasing homes and condos in order to put down roots where they can. However, a phenomenon that is becoming more common in some associations is people or business entities purchasing units in order to rent them out. Not only are renters often unknown quantities for the other residents of a homeowners’ association (HOA) or condo association, the law surrounding such arrangements is complex and does not always allow such a pattern of behavior. If your board is seeing units purchased for the purpose of renting, it is important that you know the law before attempting to regulate the practice.
Condo Associations: Rental Restrictions Common
It is not at all uncommon for condo owners to rent out their homes or pieds-à-terre for a bit of extra money. However, Florida law does allow condo associations to regulate this trend with relative ease. They are permitted to pass amendments to the governing documents (if they pass muster) that restrict the right to rent at all, or to limit the number of rentals per calendar year or the duration for which the unit can be rented, among other details.
That said, it is important to be aware, both as a board member or a unit owner, that Florida law holds that if an amendment regulating these issues passes, it would only apply to owners that (1) consent to the amendment; and/or (2) that acquire title to their units after the amendment’s passage. Unit owners have a degree of autonomy in terms of which amendments to the governing documents they must accept, depending on the relative date of their passage, and regulations of this type cannot be compelled in most cases.
HOAs: Do They Apply?
For homeowners in a Florida HOA, the question of whether they can rent out their home is similar, though with one slight difference. The relevant law for HOAs follows the regulation for condo associations; it states that regulatory amendments can be passed by the board of directors, but they cannot be forced upon all owners. Like in condo associations, owners who consent to be ruled by the amendment and owners who acquire title after its passage are the only ones who are governed by the amendment on rental regulations.
Be advised that Florida law explicitly allows HOAs to “prohibit or regulate” rental agreements for a term of less than 6 months, or the rental of a parcel more than 3 times per calendar year. If this type of amendment is passed in an HOA, it will apply to all owners, not just those who consent to it – but only amendments covering these two specific regulations qualify.
Call A Tampa Community Association Attorney
Florida residents generally have the right to rent out their home – but only under certain circumstances that will not create issues for those around them. If you have questions or concerns about your ability to rent out your home or second home, a Tampa community association attorney from the Seward Law Office may be able to help guide you. Call us today at 813-252-6789 to schedule a consultation.
Source:
flsenate.gov/Laws/Statutes/2021/718.110
