FL S1168

Mobile home park owners may increase lot rental when a new purchaser assumes a lease, limited to a one-time market rent adjustment based on the September Consumer Price Index in the year of purchase.

Rent increase cannot take effect until January 1 of the next calendar year or the next scheduled annual rent increase, whichever is later, and must provide at least 90 days notice.

Park owners and purchasers must sign a disclosure statement at time of purchase confirming the market rent adjustment terms were explained; copies must be provided to the purchaser and the Department of Business and Professional Regulation within 15 days.

For lifetime leases, park owners may increase rent upon sale to an amount no greater than the lowest monthly rental in the park at time of sale.

Department of Business and Professional Regulation may impose penalties up to $5,000 on park owners who fail to comply with these requirements.