FL S0114

Authorizes mobile home park owners to increase lot rental for purchasers of mobile homes on leased lots, limited to a one-time fair and reasonable adjustment based on the 12-month Consumer Price Index change for the previous calendar year.

Requires the initial rent increase to take effect at the next scheduled annual rent increase with at least 90 days' notice to all residents.

Mandates park owners explain rent adjustment provisions to purchasers before signing the purchase agreement and execute a disclosure statement at time of purchase, with copies maintained by the park and forwarded to the Department of Business and Professional Regulation within 15 days.

Limits rent increases on lots with lifetime leases to an amount no greater than the lowest monthly rental in the mobile home park at time of sale.

Imposes penalties up to $5,000 on mobile home park owners for failure to comply with these requirements, effective July 1, 2014.