$25,190
In campaign service
contributions from RPAC to
ORRA-supported candidates
$55,000
To produce and mail a postcard
indicating ORRA-supported
primary election candidates to
72,000 homeowners in Orange
and Seminole counties. Donate Now.
It is not uncommon for an open permit to interfere with the closing
of a real estate transaction. Florida Realtors® supports legislation to
help property owners close both open and expired permits when
the original contractor is unable or unavailable to do so. Such legislation
should provide an alternative method for owners to close
permits with the applicable local government and it should apply
to residential, commercial, and mixed-use properties.
ASSIGNMENT OF BENEFITS
An Assignment of Benefits (AOB) provides
insurance policyholders with the ability to
assign their post-loss insurance benefits to
a contractor. These contractors can then
directly charge the insurance company for
the cost of remediation or repairs. However,
a growing number of contractors have
been inflating the cost of repairs.
When the insurance company refuses to pay the claim, the
contractor initiates litigation. Insurers typically pay these inflated
claims to avoid the high cost of litigation. This increase in legal
costs is oft en passed along to policyholders in the form of higher
premiums.
• AOB abuse has reached staggering levels. In 2006, there were
405 AOB lawsuits. In 2016, that number rose to 28,200, according
to the Off ice of Insurance Regulation.
• A study of more than 80,000 Florida insurance claims for water
damage showed the average AOB claim was approximately
$17,000 – 50 percent more than non-AOB claims.
• Policyholders are paying in the form of higher insurance premiums.
In 2017, 90 percent of insurance companies requested
rate increases compared to only 37.6 percent in 2014.
• Reform is needed to stop the abuses that raise homeowners’
insurance rates.
BUSINESS RENT TAX
Florida currently charges a 5.7 percent
sales tax on business rent, creating a financial
burden for any business that leases
space. Lowering the business rent tax will
provide Florida businesses with the capital
to expand, hire more employees, improve
benefits and raise salaries.
• Florida Realtors® is grateful for the
support of the 2017 and 2018 Florida
Legislatures, which have lowered the
state sales tax rate on commercial
space to 5.7 percent.
• These two consecutive years of rate
cuts have saved Florida businesses $93
million.
LIDAR MAPPING
Flood insurance is an essential part of
homeownership in Florida and the cost of
these policies directly impacts the state’s
real estate industry. Elevation mapping is
one of the tools that the Federal Emergency
Management Agency uses to determine
flood insurance zones and rates. LIDAR
(light detection and ranging) mapping is
currently the most technologically advanced elevation mapping
process that has been developed. The 2018 Legislature appropriated
funds to LIDAR map a portion of Florida.
Source: Florida Realtors®
LEGISLATIVE
ORRA RPAC
Fundraising
2019 RPAC GOAL
336,984
2018 RPAC GOAL
$282,099
ORRA REALTORS®
MAKING THE
IMPACT
One investment
at a time
2018 RPAC CONTRIBUTIONS
$294,950
Made by 2,609 ORRA members
2018 RPAC SPENDING
$29,000
In direct contributions from RPAC
to ORRA-supported candidates
REALTOR® ACTION:
Continue to
advocate for further
reductions to this
to the business
rent take in order
to give businesses
the financial
resources to grow
their companies
and enrich their
communities.
REALTOR® ACTION:
Support legislation
that would reform
the assignment of
benefits process to
help stop this abuse.
REALTOR® ACTION:
Support the most
accurate elevation
mapping process
available and the
funding needed to
pay for it.
18 Orlando REALTOR® Spring 2019