NAIOP Florida Chapters Celebrate Signing of Bill
FORT LAUDERDALE, Fla. (July 8, 2020)– Executing a commercial lease in Florida can now be streamlined and digitized to meet the post-COVID age. The Florida chapter of NAIOP, the Commercial Real Estate Development Association, in partnership with Florida Realtors, Florida Apartment Association and the Florida Bar’s Real Property Probate and Trust Law Section, announces the enactment of a milestone bill removing witness requirements from commercial and residential leases.
Just signed into law by Governor Ron DeSantis, Florida House Bill (HB 469) went into effect on July 1.
“The witness requirement is a cumbersome and unnecessary holdover from the pre-digital era,” said NAIOP Florida President Darcie Lunsford, executive vice president of Butters Realty & Management. “This is particularly crucial in the post-COVID environment, where we are looking for ways to limit interpersonal contact while still trying to conduct business, keep our economy going and our buildings full.”
State law already allows for electronic signing of contracts, but the witness requirement for leases had to be addressed to remove the last hurdle to electronic execution of leases in Florida, one of seven states that still had the requirement. The law passed unanimously by both chambers.
“This is a huge win for our industry during an extremely challenging time,” Lunsford added. “The commercial real estate industry continues to grow and is important to the economic viability of our state.”
The 1,000-member NAIOP Florida is a coalition between the state’s five regional chapters in South Florida, Central Florida, Tampa Bay, Northeast Florida and Northwest Florida, and works to advance responsible commercial real estate development in the state and advocates for effective public policy.
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NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 19,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit naiop.org.
Samantha Van Nuys