Miami REALTORS Chief of Residential & Advocacy Danielle Blake and Douglas Elliman agent Jessica Julian converse to Fox Information Digital about two latest authorized modifications inside Florida’s condominium market.
For many years, buying a Florida rental was a leap of religion masked by palm bushes and ocean views. However within the new 12 months, the veil of secrecy has lifted.
Between a brand new necessary digital transparency regulation and a landmark court docket ruling that handed a so-called “poison capsule” to builders, the facility dynamic in the Sunshine State has shifted dramatically.
“I believe it is positively correcting,” Douglas Elliman Palm Seaside agent Jessica Julian instructed Fox Information Digital in regards to the state of the condominium market. “I might say final 12 months we noticed extra of those older buildings have been hurting, not as many patrons for them. Everyone was form of scared to dip their toes into an older constructing after what occurred in Miami on Surfside. And so now that assessments are being paid and repairs are being achieved, we’re positively seeing that correction.”
“I believe momentum might be the very best phrase that we have now. Issues have stabilized. We’re gonna transfer ahead… And once more, the demand right here in South Florida is so robust,” MIAMI REALTORS Chief of Residential & Advocacy Danielle Blake additionally instructed Fox Information Digital.
FLORIDA’S AGING WATERFRONT CONDOS BECOME GOLD MINES AS OWNERS CASH IN ON DEVELOPER BUYOUTS
The primary main shift of 2026 contains provisions that took impact below Home Invoice 913, which requires associations with 25 models or extra to have a devoted, safe digital portal the place potential patrons can see a rental’s financial institution statements, reserve particulars and even structural studies of a constructing.
A lifeguard tower sits on the seashore on a sunny day in entrance of condos on August 16, 2023, in Miami, Florida. (Getty Photographs)
“The press of the button, you possibly can go in there, you possibly can have a look at all these paperwork – together with the funds – earlier than you make that supply,” Blake mentioned. “We’re big proponents of it. It brings transparency and accountability, and we proceed to advertise that.”
“It is making the rental market extra predictable. So condos which have delayed reserves or delayed points with their constructing are seeing much more ongoing negotiations,” Julian famous, “the place buildings which have thought forward and have totally funded reserves, they’ve a aggressive edge available in the market.”
In Miami-Dade, 65% of lively stock consists of older rental buildings, and gross sales within the $200,000 to $400,000 vary are up 21% 12 months over 12 months regardless of rising insurance coverage prices and assessments, in accordance with REALTORS knowledge. The specialists weighed in on whether or not patrons are being courageous or simply longing for a slice of paradise.
Compass dealer affiliate Scott Diffenderfer and BH Group head of acquisitions Alex Tukh converse to Fox Information Digital about why South Florida’s older condos are at present promoting quicker than newer models.
“I want to say it is all due to our advocacy work. I imply, transparency is admittedly necessary, however I believe it has to do extra with market circumstances. And in South Florida, it is a very popular market. Everyone desires to maneuver right here. The climate is completely stunning. Folks need to make the most of that. And so that is actually the final reasonably priced stock that we have now, and they’re transferring in,” Blake defined.
“I get a number of patrons which are desirous to get down right here in South Florida, however they’re very well-informed. They’re normally coming to me already doing their due diligence,” Julian added. “They may have already got the buildings that they’ve pinpointed. They’ve researched the opposite ones, discovered which of them appear slightly weak on these reserve research.”
The second main shift in Florida’s rental market is the latest Biscayne 21 court docket ruling, which set a authorized precedent successfully granting minority holdouts, as few as 5% to 10% of householders, the facility to dam main redevelopments if the unique declaration requires unanimous consent.
OLDER SOUTH FLORIDA CONDOS NOW SELLING FASTER THAN NEW CONSTRUCTION UNITS AMID AFFORDABILITY CRUNCH
Julian referred to as the choice a “poison capsule” for builders who have been eyeing older, waterfront Miami buildings as prime targets for ultra-luxury conversions.
Harbor Condominium treasurer Juan Llorente, Blanca CRE EVP Cary Cohen and MSP Group CEO Deme Mekras converse to Fox Information Digital about how all of them got here to a buyout deal of the North Bay Village, 29-unit, waterfront constructing.
“The poison capsule, which is [a] 100% buyout, it makes issues very tough. In order that they have not been pursuing these as a lot,” she mentioned. “It is an excessive amount of unknown to strive to do this, to vary the rental bylaws, and attempt to take a constructing down that approach. So I believe it is gonna change going ahead as builders are going to take a look at buildings much more with scrutiny and persistence.”
Julian handled buyout wars personally in late 2025 at Harbor Towers & Marina in West Palm Seaside when two builders sued a number of house owners caught within the crosshairs of a battle for management of the constructing.
“What they do not notice, that I see behind the scenes, is these builders are scooping up different buildings which are extra reasonably priced to them, that make extra sense in pencil. And ultimately, we’re gonna be oversaturated.”
“There are a handful of buildings on the market that also have language of their rental bylaws that say 75 to 80% can terminate a constructing… So builders are more than likely going to do their due diligence and they are going to be trying in the direction of these buildings first,” Julian mentioned.
“I believe this case actually highlights the significance of studying the federal government docs,” Blake famous. “It is actually necessary for builders to verify that and know what you are moving into earlier than you incorporate that into your plan.”
Together with her advocacy position in thoughts, Blake additionally supplied recommendation on what fixes realtors could push for to make sure that one or two residents cannot forestall a complete group from escaping the monetary burden of an older constructing: “Speak to native authorities, speak to the state. Everyone must be knowledgeable to allow them to provide you with the best resolution. And we might help that.”
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Gutman Growth Advertising’s Phil Gutman, The Continuum Firm’s Ian Bruce Eichner and BH Group CEO Isaac Toledano clarify to Fox Information Digital why they help Florida’s ‘Rental 3.0’ invoice.
And whereas each specialists agree that the 2 main modifications in Florida’s rental market put an necessary emphasis on readability and communication, Julian did share one warning about the way forward for the market setting.
“Greed is form of going down slightly bit. So [buyers] are holding again till they get many extra thousands and thousands of {dollars} [from developer offers]. However what they do not notice, that I see behind the scenes, is these builders are scooping up different buildings which are extra reasonably priced to them, that make extra sense in pencil. And ultimately we’re gonna be oversaturated,” she mentioned.
“So if they’re ready, pondering that they are going to get the last word payout, they may need to rethink that.”
