New Florida Housing Law?

florida-homesAffordable Florida housing can be an anomaly. If Florida rental laws change however, this could change. This will happen if the Florida legislature allocates funds for its State Housing Initiatives Partnership – a move that has not occurred in the last three years.

A group of real estate agents in Sarasota was informed by an affordable housing advocacy group that these funds are “critically” needed. Part of the reason for this is due to the fact that the price tag on Southwest Florida shelter is escalating at a speedier rate than worker wages. If this is not dealt with, the entire economy of Florida (along with those who live there) will be negatively affected.

Indeed, according to President of the Florida Housing Coalition, Jaimie Ross, “this is the most important fund to affordable housing in Florida. The difference between a market home and an affordable home is subsidy. SHIP [State Housing Initiatives Partnership program] is critical.”

Looking at the larger issue of Florida rental laws, Florida is actually somewhat unique in that it needs its local jurisdiction to provide affordable housing. That is usually covered through SHIP, which has funds that are set aside for housing subsidies and handed out to each county on a population-based formula. The municipality has a choice as to how to spend its SHIP allocations – from the homeless, to assisting first time home buyers, renovations needed, etc.