Florida’s New Squatters Law: A Game-Changer for Investment Property Owners

Friday, December 06, 2024

Recent Articles/Turnkey Investment/Florida’s New Squatters Law: A Game-Changer for Investment Property Owners

Florida Governor Ron DeSantis recently signed HB 621 into law, a new measure aimed at addressing the issue of squatting. This law provides a clear legal process for dealing with unauthorized occupants and is seen as a win for homeowners and investors. According to Governor DeSantis, the goal is to put an end to 'squatter scams' and strengthen property rights across the state.

Understanding HB 621: What It Does

Understanding HB 621: What It Does

HB 621 provides a straightforward approach for property owners to act quickly when dealing with squatters. The law focuses on three key provisions:

  • Immediate Law Enforcement Intervention: Property owners can now request the immediate removal of squatters by law enforcement if the squatter unlawfully enters and refuses to leave, and there is no legal dispute over the tenancy.
  • Increased Penalties for Squatters: The law escalates penalties for squatting, making it a first-degree misdemeanor to use false statements or documents to acquire property. Additionally, significant property damage (exceeding $1,000) will result in a second-degree felony charge, while unlawfully advertising or selling property one doesn’t own will be classified as a first-degree felony.

This legislation is a major step forward in combatting the growing problem of squatters taking advantage of legal loopholes in Florida’s previous property laws.

What Does HB 621 Mean for Landlords and Build-to-Rent Owners?

What Does HB 621 Mean for Landlords and Build-to-Rent Owners?

For landlords and build-to-rent property owners, the new law offers substantial benefits::

  • Rapid Property Recovery: In the past, landlords and property owners often faced lengthy legal processes to evict squatters, resulting in significant financial losses. HB 621 enables swift action, allowing property owners to quickly reclaim their property and minimize disruptions to rental income and operations.
  • Deterrence of Property Misuse: By implementing more severe penalties, the law sends a strong message to potential squatters. The prospect of facing serious legal consequences significantly reduces the likelihood of properties being misused or occupied without authorization.
  • Enhanced Security for Real Estate Investments: The clear legal structure introduced by HB 621 provides property owners with a more secure environment in which to invest. For those involved in Florida’s build-to-rent market, this added legal support can enhance confidence in the state's real estate sector, attracting more investors and further driving the market’s growth.

A Comparison to Other States

A Comparison to Other States

Squatting issues are not unique to Florida. Across the United States, homeowners and landlords have struggled with squatters claiming residence and delaying eviction proceedings for months, if not years. In states like California and New York, squatters have been able to exploit the legal system, resulting in costly and protracted battles.

In contrast, Florida's HB 621 creates a more efficient process, providing quicker solutions for property owners. By enabling law enforcement to respond swiftly and raising penalties for squatting, the state is enhancing protection for homeowners and investors against criminal activity.

Governor DeSantis has made it clear that Florida stands firmly behind property owners. The signing of HB 621 is a strong statement that the state prioritizes the rule of law and the sanctity of homeownership. This new law not only strengthens legal protections for property owners but also helps to deter criminal behavior by making it more difficult for squatters to take advantage of legal loopholes.

What This Means for Your Future Investments in Florida 

What This Means for Your Future Investments in Florida 

HB 621, which went into effect on July 1, 2024, represents a major shift in Florida’s approach to property rights. For build-to-rent owners, landlords, and investors, the new law promises a more stable, secure, and predictable environment in which to manage and grow real estate holdings. The swift legal process for eviction and the increased penalties for squatting will likely lead to a decline in such incidents, reducing financial risks and operational disruptions for property owners.

As Florida continues to lead with proactive legislation like HB 621, the real estate market in the state stands to benefit from enhanced security and increased investor confidence. This game-changing law not only improves the property rights landscape but also lays the foundation for continued growth and success in Florida’s real estate sector.

​With the implementation of HB 621, Florida is positioning itself as a state that not only supports but actively protects property owners, ensuring that the dream of homeownership and investment is secure for all who enter the market.

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   Eugene Kamenskiy
Author

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