Doing Business in Florida Blog

Florida State Sales Tax Rate on Commercial Real Property Leases Reduced Further Beginning January, 2019

May 16, 2018
Barry D. Lapides  |  Real Estate

As a follow up to my November 2017 post, the Florida Legislature passed a tax bill (HB 7087) which includes a further reduction in the sales tax rate on commercial leases. As anyone who is involved in leasing commercial real property in Florida is aware, the State of Florida imposes a sales tax on rental payments for the lease of real property. The tax

David Beckham-backed MLS Stadium Can Provide Assist to South Florida Real Estate Market

April 23, 2018
Joshua B. Brandsdorfer  |  Real Estate

As the Miami Heat gear up for the playoffs, the Miami Marlins get ready for Opening Day under new management, and the Miami Dolphins prepare for the NFL Draft, a new Miami sports franchise is still just trying to find a place to call home. This past January, to great fanfare in downtown Miami, Major League Soccer (MLS) officially announced league approval

Governor Signs Community Association and Condominium Legislation

March 28, 2018
Jeffrey R. Margolis  |  Condominiums, Real Estate

Following up on my February 16, 2018 post, Florida Governor Rick Scott signed House Bill 617, House Bill 841 and Senate Bill 7087 into law. Senate Bill 7087, which is the comprehensive tax package for the legislative session, authorizes vertical subdivisions of real property, specifically authorizing assessment of a “multiple parcel building” by

Affordable Housing in Florida: The Crisis is Real

March 26, 2018
Iryna Ivashchuk  |  Real Estate, Residential Real Estate

One of the biggest barriers to economic stability for households in the United States is the severe shortage of affordable homes. A household is considered severely cost burdened if it spends more than 30% of its income on housing (rent or mortgage payments). Florida is in the midst of an affordable housing crisis with the third largest homeless

Interesting Data Points From Southeast Multifamily Forum

March 25, 2018
Jeffrey R. Margolis  |  Real Estate

The Southeast Multifamily Forum provided information and statistics regarding the state of the multifamily real estate market, investment opportunities, trends. Below are some of the highlights. State of the Market After the election, growth in the multifamily real estate market picked up, not because of who was elected, but because uncertainty

Homeowners Association and Condominium Association Related Bills

February 15, 2018
Jeffrey R. Margolis  |  Condominiums, Real Estate

2018 Florida Legislative Session Update The 2018 Florida legislative session is in full swing with a number of proposed bills relating to homeowners associations and condominium association currently being considered. If passed by the legislature and signed into law by the governor, these bills will have a significant impact on operations of homeowners

South Florida Real Estate Bubble Won't Burst in 2018 According to Berger Singerman Survey

January 17, 2018
Real Estate

After new administration’s first year in office, South Florida real estate professionals are optimistic about 2018, but not as positive as last year MIAMI, FL – Jan. 17, 2018 – With the national stock market reaching all-time highs in the past year, many real estate experts have indicated that the U.S. real estate market is bound for a bubble burst. That

Florida State Sales Tax Rate on Commercial Real Property Leases Reduced

November 26, 2017
Barry D. Lapides  |  Commercial Real Estate, home owners associations, Real Estate, Real Estate Litigation

Florida State Sales Tax Rate on Commercial Real Property Leases Reduced Beginning January, 2018 As anyone who is involved in leasing commercial real property in Florida is aware, the State of Florida imposes a sales tax on rental payments for the lease of real property. The tax is imposed not only on the base rent, but also on any additional rent, or any

How to Obtain Multiple Extensions of Permit Expiration Dates

October 11, 2017
Daniel H. Thompson  |  Government and Regulatory, Government Permitting and Licensing, Real Estate, State & Local Government

Florida frequently faces hurricanes, floods, fires, and pestilence. Nonetheless, as Albert Einstein said, “In the middle of adversity there is great opportunity.”  In 2011 the Florida Legislature enacted the “State Emergency Management Act,” (the “Act”) Sections 252.31-252.60, Florida Statutes, which gave developers a great opportunity--to obtain potentially long-term extensions of certain environmental permits and development orders based upon the Florida governor’s issuance of multiple declarations of states of emergency under the Act. Governor Scott has issued such declarations, in the form of Executive Orders, with great frequency since 2011.  These declarations can become long-term because the Act allows the extensions to piggyback upon each other.

Why Amazon’s Foray Into the Retail Grocery Space Should Concern Shopping Center Owners and Their Lenders Too

August 28, 2017
Anthony J. Carriuolo  |  Amazon, Commercial Real Estate, commercial real estate, Real Estate, Real Estate, retail, Whole Foods

Just when you thought Amazon couldn’t get bigger, or couldn’t infiltrate your daily life any deeper, it has. Amazon’s acquisition of Whole Foods is both exciting and troubling.  Exciting, because Amazon already has undertaken significant cost-cutting measures that should reinvigorate interest in shopping at Whole Foods (which was ‘pricey’), and you can

FinCEN Increases Scrutiny to Combat Money Laundering on Residential Real Estate in Miami-Dade and Palm Beach Counties

August 28, 2017
Joshua B. Brandsdorfer  |  FinCen, Florida real estate, Florida Real Estate Attorney, Money Laundering, Real Estate, Residential Real Estate

Due to the continued effects of money laundering in certain geographically targeted areas, including Miami-Dade and Palm Beach Counties, the Financial Crimes Enforcement Network (FinCEN) has recently increased its investigation into high-end residential real estate transactions. All cash residential real estate transactions with purchase prices over the

Governor Signs Condominium and Homeowners Association Legislation but Vetoes Legislation Which Would Have Modified the Condominium Sprinkler Retrofit and Life Safety Requirements

June 26, 2017
Jeffrey R. Margolis  |  Condominiums, Homeowners Association, Real Estate, Residential Real Estate

Citing to the recent London high-rise fire, Florida Governor Rick Scott vetoed House Bill 653 which, among other things, sought to amend the condominium fire sprinkler retrofitting and life safety systems requirements. However, the Governor signed House Bill 1237 and House Bill 6027 into law on June 26, 2016.  The legislation signed by the Governor goes