Under the Condo Act, what right is extended to tenants when an existing rental property is converted to a condominium?

In the context of the Florida Condo Act, tenants are afforded specific protections when a rental property undergoes conversion to a condominium. One of these rights includes the option to extend their current lease. This is particularly important as it provides stability and continuity for tenants who may otherwise have to vacate their homes during the conversion process.

This option to extend the lease means that tenants are not immediately displaced, allowing them to continue living in their units under existing lease agreements and offering them time to adjust to the changes that conversion entails.

Another aspect to consider is that this right helps to provide a measure of security for tenants, ensuring that they have time to evaluate their living situation amidst the transition, which can be a significant change both financially and logistically. This provision aims to protect tenant interests while landlords navigate the complex process of condominium conversion.