Miami-Dade Board of County Commissioners will consider today for first reading an amendment to the Miami-Dade County Code which would require sellers of residential property located within a special taxing district to disclose to buyers that such property is located within a special taxing district and subject to payment of assessments.[…]
The desire for live, work and play lifestyles is not slowing down in Florida as major mixed-use projects are continuing to be developed throughout the state, from Miami Worldcenter to the Cascades Project in Tallahassee. However, the popularity of these mixed-use projects has created a legal conundrum.[…]
The availability of large tracts of land on which to build new projects in advantageous locations is shrinking. As a result, there is a growing trend of buyers considering the purchase of properties with unresolved environmental issues that they never would have considered in the past due to, among other things, potential liability, internal risk[…]
Florida, along with 28 other states, have legalized marijuana for medicinal purposes. In addition, nine states and the District of Columbia have legalized marijuana for recreational use. The growth of the legal cannabis industry is proving to be big business, not only for growers and sellers, but also for owners of real estate serving the industry. The[…]
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[…]
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[…]
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[…]
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[…]
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[…]
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[…]
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 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[…]