The Real Deal Miami

New condo, bulk buyer law takes effect today

July 01, 2010 12:00PM

Gov. Charlie Crist

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