Grandfathering of Rental Restrictions in Condos and HOA’s
Florida's Chapter 718 Statutes have introduced significant changes to rental restrictions in both Condominiums and Homeowners Associations, impacting property owners who wish to lease their units for short-term periods. Under the existing Chapter 718, condominiums had provisions stipulating that any new rental restrictions approved by the membership through amendments to governing documents would only apply to those who voted in favor of the changes or to those who acquired property after the amendment's approval and recording in the County Public Records. Similarly, Section 718.110(14) of Florida Statutes for Condominiums specified that amendments restricting unit owners from renting their units or altering rental durations would only apply to consenting unit owners and those who acquired ownership after the amendment's effective date. Now, HOAs have adopted new short-term rental restrictions under these revised statutes. These restrictions are applicable to all property owners and limit rentals to a maximum of three times a year, with each lease period being less than six months. For property owners under HOAs who voted in favor of these amendments or acquired ownership after their effective date, further restrictions come into play. These include rental restrictions of six months or longer or limits of three, two, or one lease per year. As these rental restrictions come into effect, the affected property owners must adapt to the changes while the real estate market and communities adjust to the new regulations.