Summary
A new law in Florida, effective October 1, requires landlords to inform tenants of any known flood damage before they sign a lease. Home sellers must also disclose any flood-related damage or insurance claims to buyers. The law is part of broader efforts to protect renters and buyers from unforeseen costs related to flooding.
Key Facts
- The new law, called HB 1015, focuses on transparency about flood risks and damage.
- Landlords must provide flood information to tenants before signing a lease for a year or more.
- Details required include if the property is in a FEMA flood zone and any past flood damage or claims.
- Home sellers must disclose any flood damage or assistance received during their ownership.
- Non-compliance allows tenants to end their lease and get a rent refund if substantial flood damage occurs.
- The law only affects new leases signed on or after October 1.
- Approximately 35% of homes in Florida’s high-risk flood areas have insurance coverage.
