Peace of Mind for Tenants

New condo, bulk buyer law takes effect today
July 01, 2010 12:00PM
The Distressed Condominium Relief Act, which was signed by Gov. Charlie Crist June 1, took effect Thursday, giving condo associations the right to demand that renters in delinquent units pay their rent directly to the association, not the unit owners. Those who don’t comply now face eviction. “It gives tenants more peace of mind,” said Jon Mann, owner of Five Star International Realty in Miami. “They can pay the association a portion of their rent and they know they won’t be kicked out.” Among the law’s many provisions, it also shields bulk buyers from so-called successive developer liability. [Miami Herald]