Florida Rent Control — Is There Such a Thing?

Gemma Smith
Last updated
December 13, 2024
5 min read

Table of Contents

Table of Contents

Florida’s rental housing market is as dynamic as the state itself. It's shaped by economic trends, population growth, and a vibrant housing landscape.

With no statewide rent control laws, Florida offers landlords significant freedom in setting rental rates. However, this free-market approach creates its own set of challenges, including navigating fluctuating rent increases and addressing tenant retention.

The history of rent control in Florida

Florida’s rental housing market has undergone dramatic shifts over the past decade, driven by economic changes, population growth, and a complex housing affordability crisis. While the state has historically embraced a free-market approach to rental pricing, recent trends and challenges have reignited debates about the role of rent control in addressing housing issues.

Post-2008 financial crisis: The shift to renting

Following the 2008 financial crisis, Florida saw a wave of former homeowners transitioning to the rental market. This shift led to a surge in rental demand as families and individuals sought housing options amidst foreclosures and tightening lending practices. 

The resulting strain on the rental market marked the beginning of a decade-long transformation in Florida’s housing landscape.

2010-2019: Rapid growth and rising rents

Between 2010 and 2019, Florida added nearly half a million rental units to meet increasing demand. However, this growth came with significant changes in affordability. Units renting for $1,000 or less became increasingly scarce, while higher-priced rentals flourished.

  • Single-family rentals grew by 15%, adding over 119,000 units.
  • Multifamily developments saw substantial growth, including a 19% increase in buildings with 5-49 units and a doubling of buildings with 50+ units.

This period solidified Florida’s reputation as a hotspot for luxury rentals, leaving many middle- and lower-income residents struggling to find affordable options.

2020-2022: Pandemic-era surges

The COVID-19 pandemic further intensified housing challenges in Florida. Many metro areas experienced unprecedented rent increases as demand outpaced supply. Tampa, for instance, saw rents skyrocket by 37.8% year-over-year in 2022.

This surge highlighted the vulnerabilities of Florida’s rental market and led to renewed calls for protective measures for tenants.

Recent trends (2023-2024): A cooling market

As of 2024, the median rent in Florida stands at $2,500, reflecting a modest $100 decline from the previous year. Major cities like Jacksonville, Tampa, Orlando, and Miami have seen rent price declines, with Jacksonville experiencing a record 12.4% drop in median asking rent.

Factors contributing to this cooling trend include the following:

  • An increased supply of rental units, including multifamily apartments and converted single-family homes.
  • A surge in apartment construction during the pandemic to meet demand.
  • Higher interest rates, which have slowed new building permits and construction starts.

Despite these changes, many tenants still face high living costs, making affordability a persistent concern.

Ongoing debate: The future of Florida rent control laws

As of 2024, Florida does not have any permanent rent control ordinances, allowing landlords to set rental prices based on market demand. While this approach has fostered a thriving rental market, it has also contributed to significant rent increases in many areas — like the following:

  • Tampa’s average rent rose from $1,248 in 2018 to $1,602 in 2023.
  • Boca Raton experienced a 13% increase in rents between 2016 and 2017, with monthly rates averaging $2,197.

These trends have sparked ongoing debates about the need for rent control or other tenant protections to address Florida’s housing affordability crisis. However, such measures remain a contentious topic among policymakers, landlords, and residents alike.

Key regulations and considerations for Florida landlords

While Florida’s lack of statewide rent control laws gives landlords significant freedom in setting and increasing rents, there are still important regulations and best practices to follow to ensure compliance and maintain positive tenant relationships.

Lease agreements

Landlords cannot raise rent during an active lease term unless explicitly allowed in the lease agreement. For fixed-term leases, rent increases generally occur only at the time of renewal, offering tenants predictability and stability during the lease term.

Read more about Florida lease agreements here.

Notice requirements

Florida law doesn’t mandate a statewide notice period for rent increases, but landlords are advised to follow lease termination notice guidelines to avoid disputes:

  • Yearly leases: 60 days’ notice
  • Quarterly leases: 30 days’ notice
  • Month-to-month leases: 15 days’ notice

Some jurisdictions have stricter rules. For instance, Miami-Dade County and West Palm Beach require a 60-day notice for rent increases exceeding 5% year-over-year.

Florida rent increase laws

Rent increases must comply with federal and state laws:

  • Anti-discrimination laws: The Federal Fair Housing Act prohibits discrimination based on race, color, religion, sex, disability, familial status, or national origin.
  • Non-retaliatory practices: Rent increases cannot be used to retaliate against tenants for reporting property issues or exercising their legal rights.
  • Legislation limits: The Live Local Act (FL Stat. § 125.0103) prohibits most forms of rent control, ensuring landlords retain the ability to set market-driven rents.

Alternatives to rent control in Florida

While Florida does not impose rent control, landlords play an important role in addressing housing affordability challenges. To balance profitability and social responsibility, several alternative policies and programs provide opportunities for landlords to contribute to affordable housing efforts while benefiting from incentives.

Florida has implemented initiatives to expand affordable housing options, creating opportunities for landlords and developers alike:

  • State Housing Initiatives Partnership (SHIP): This program provides funding to local governments for creating and preserving affordable housing, including multifamily rental properties. By partnering with SHIP-funded projects, landlords can participate in efforts to improve housing availability while ensuring steady occupancy rates.
  • State Apartment Incentive Loan (SAIL): Offering low-interest loans to developers, SAIL supports the construction of affordable rental housing. Landlords involved in SAIL projects can benefit from reduced financing costs and consistent tenant demand.

Emergency rental assistance programs

Tax incentives for landlords

Florida encourages affordable housing development through tax incentives, providing financial benefits for landlords:

  • Low-Income Housing Tax Credit (LIHTC) Program: This program offers tax credits to developers and landlords who build or rehabilitate affordable rental housing. Properties under the LIHTC program are restricted to tenants earning 60% or less of the Area Median Income (AMI), allowing landlords to serve a targeted tenant base while benefiting from reduced tax liabilities.
  • Tax deductions for participating landlords: By working with affordable housing programs, landlords may qualify for additional state and federal tax benefits.

How landlords can thrive without rent control

Operating in a state without rent control, like Florida, provides landlords with the flexibility to set their own rental terms. However, this freedom also requires a proactive approach to managing properties responsibly and maintaining profitability. Here are strategies for thriving in Florida’s competitive rental market.

Maintaining long-term tenants

Tenant turnover is one of the biggest expenses for landlords, making tenant retention a critical part of maximizing profits. Here’s how to keep good tenants:

Setting competitive rents

While landlords have the freedom to set rental rates, pricing too high can lead to vacancies, while underpricing can leave money on the table. To strike the right balance, consider the following:

  • Research comparable properties: Use platforms like Azibo, Rentometer or Zillow to compare rents for similar units in your area.
  • Evaluate property amenities: Highlight unique features or upgrades to justify higher rent while staying within market expectations.
  • Adjust incrementally: If raising rents, do so in small, predictable amounts to maintain tenant trust and avoid sticker shock.

Understanding market trends

Staying informed about local rental trends enables landlords to adapt to market changes and make data-driven decisions.

  • Track local data: Monitor reports from real estate associations, government resources, or online platforms that provide insights into Florida’s rental market.
  • Use property management tools: Software like Azibo offers features to collect and track rent payments, and generate financial reports.
  • Follow legislative updates: As we've already discussed, while Florida currently lacks rent control, staying aware of potential housing policy changes can help you prepare for shifts in the market.

Understanding trends ensures landlords stay ahead of the competition and make strategic adjustments to their business plans.

Does Florida have rent control? Now you know the answer!

Florida’s lack of rent control laws presents landlords with unparalleled opportunities for flexibility and profit. However, this freedom also demands responsibility. By setting competitive rents, maintaining positive relationships with tenants, and staying informed on market trends, landlords can maximize their success while contributing to the stability of the rental market.

As housing affordability continues to dominate conversations statewide, landlords who take a proactive and ethical approach to property management will not only thrive financially but also build a reputation as trusted contributors to their communities.

With the right strategies and awareness of local regulations, Florida landlords can navigate this evolving market with confidence and long-term success.

Florida rent control FAQS

What is the maximum rent increase allowed in Florida?

In Florida, there are no statewide caps on rent increases; landlords can raise rent without a maximum limit. However, they must provide proper notice before implementing any increase.

What is the new renters law in Florida in 2024?

As of 2024, Florida has not enacted new statewide renter protection laws. However, proposed legislation, such as House Bill 31, aims to limit rent increases and mandate air-conditioning provisions, but it has not been passed into law.

What is the 3x rent rule in Florida?

Landlords often require prospective tenants to have a monthly income at least three times the rent to ensure affordability.

Written by

Gemma Smith

With 9 years in property management, Gemma serves as a key content strategist at Azibo.com. While excelling in writing, editing, and SEO, she also enhances Azibo's social media presence. Passionately, Gemma educates others to make informed real estate investment decisions in the ever-changing market.

Important Note: This post is for informational and educational purposes only. It should not be taken as legal, accounting, or tax advice, nor should it be used as a substitute for such services. Always consult your own legal, accounting, or tax counsel before taking any action based on this information.

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