Michael stays active and engaged in the legislative process as it has direct impact on investors/owners as well as property managers. He was recently in Tallahassee and here's the abridged outcome:

1) Michael is serving as a NARPM PAC Trustee for Florida and is actively involved in legislative issues that affect our residents, investor/owners and vendors with NARPM. Recently after 4 years there is light ahead regarding the 30 day vacate notice requirement for properties that have any federal loans or grants attached to them. We should see Congress pass clarification rules on the 30-day notice. 

2) Also, on the Florida state level as our residents and investor/owners have been asking for over the last couple of years there is a bill in Florida that will allow electronic notice filing. As everyone moves from the mail to email, text and social media platforms it is no longer practical to have to rely on the mail.  

3)  Something that we will be keeping an eye on in this Florida Legislative session (March 4, 2025 to May 5, 2025) is a bill that could limit how many investment properties you could own in the different counties. This would allow counties to say you could not purchase an investment property if you and your related entities own 3 or more properties.  

4) The rental market is, shall we say, temperamental and in the First Coast area rentals need to be just under $1,995 to move. It is forecast that 2026 and 2027 will see an increase in rental rates. So, 2025 will still see level rental rates or reductions. A positive sign is that 93% of FPM Properties leases are renewed and the average stay of a resident in an FPM property is now over 4.1 years.  

5) The sales market is still slow and we are still seeing significant price reductions and sellers paying for buyer’s closing costs.



This is a great time to purchase that investment property. So, you might want to consider increasing your portfolio. Preferred internal rates of return are between 8-10% or higher. 

What May Come

Mike is "retired" from being the national Governmental Affairs chair for NARPM (National Association of Residential Property Managers) but because these issues impact our owners right here in Florida and our NE FL counties he's staying "plugged in" locally and now serves on the advocacy committee of 2 groups locally.

This kind of advocacy and activism has become necessary to protect your interests and rights as property owners, investment and otherwise!

If you are curious about the details of any of these issues, email marketing and we'll plug you in!

The Team at FPM Properties