This bill introduces new requirements for landlords and developers regarding flood risk disclosures in residential real estate transactions. Specifically, it creates a new section, 83.512, in the Florida Statutes that mandates landlords to provide a detailed flood disclosure to prospective tenants before executing a rental agreement for a term of one year or longer. The disclosure must include information about the landlord's knowledge of past flooding, any claims filed for flood damage, and assistance received for flood damage. If a landlord fails to provide truthful information and a tenant suffers substantial loss due to flooding, the tenant has the right to terminate the rental agreement and receive a refund for any rent paid in advance for the period after termination.

Additionally, the bill amends existing statutes to enhance flood risk disclosures for prospective purchasers of residential real property and condominium units. It revises the flood information that sellers and developers must disclose, including the requirement to inform buyers that homeowners insurance does not cover flood damage and to encourage them to consider separate flood insurance. The bill also defines "flooding" and outlines the conditions under which a tenant or buyer may seek recourse if they suffer losses due to undisclosed flood risks. The act is set to take effect on October 1, 2025.

Statutes affected:
S 948 Filed: 689.302, 718.503