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Gaylene Lonergan

Texas Required Landlord Disclosures REAL ESTATE EDUCATION for PROFESSIONALS

Texas required landlord disclosures OBJECTIVE To learn about the disclosures that landlords in Texas must provide tenants, usually in the lease or rental agreement. Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas required landlord disclosures NONREFUNDABLE FEES Landlords may charge nonrefundable fees. Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Owner or agent identity. In the lease, other writing, or posted on the property, landlord must disclose the name and address of the property's owner and, if an entity located off-site from the dwelling is primarily responsible for managing the dwelling, the name and street address of the management company. (Tex. Prop. Code Ann. §92.201) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Security device requests. If landlord wants tenant requests concerning security devices to be in writing, this requirement must be in the lease in boldface type or underlined. (Tex. Prop. Code Ann. 92.159) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Return of the security deposit. A requirement that a tenant give advance notice of moving out as a condition for refunding the security deposit is effective only if the requirement is in the lease, underlined or printed in conspicuous bold print. (Tex. Prop. Code Ann. §92.103) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Domestic violence victim's rights. Victims of sexual abuse or assault on the premises may break a lease, after complying with specified procedures, without responsibility for future rent. Tenants will be responsible for any unpaid back rent, but only if the lease includes the following statement, or one substantially like it: "Tenants may have special statutory rights to terminate the lease early in certain situations involving family violence or a military deployment or transfer. (Tex. Prop. Code Ann. §92.016) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Tenant's rights when landlord fails to repair. A lease must contain language in underlined or bold print that informs the tenant of the remedies available when the landlord fails to repair a problem that materially affects the physical health or safety of an ordinary tenant. These rights include the right to repair and deduct; terminate the lease; and obtain a judicial order that the landlord make the repair, reduce the rent, pay the tenant damages (including a civil penalty), and pay the tenant's court and attorney fees. (Tex. Prop. Code Ann. §92.056) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Landlord's towing or parking rules and policies. For tenants in multiunit properties, if the landlord has vehicle towing or parking rules or policies that apply to the tenant, the landlord must give the tenant a copy of the rules or policies before the lease agreement is signed. The copy must be signed by the tenant, included in the lease or rental agreement, or be made an attachment to either. If included, the clause must be titled "Parking” or “Parking Rules” and be capitalized, underlined, or printed in bold print.) (Tex. Prop. Code Ann. §92.0131.) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas requires landlords to make the following disclosures to tenants: Texas required landlord disclosures Texas requires landlords to make the following disclosures to tenants: Electric service interruption. Landlord who sub meters electric service, or who allocates master metered electricity according to a prorated system, may interrupt tenant's electricity service if tenant fails to pay the bill, but only after specific notice and according to a complex procedure. Exceptions for ill tenants and during extreme weather. (Tex. Prop. Code Ann. §92.008(h)) Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Texas required landlord disclosures Questions?

Gaylene Rogers Lonergan The Lonergan Law Firm, PLLC 214-503-7509 Texas required landlord disclosures Gaylene Rogers Lonergan The Lonergan Law Firm, PLLC 214-503-7509 LonerganLaw.com Escrow2@LonerganLaw.com Copyright 2018, Lonergan Law Firm, PLLC, Gaylene Rogers Lonergan

Cathy Crowe

Frank Friesenhahn

Harry crowe

Judy andujar

Proper maintenance will preserve and increase the value of your investment Systems for Preventative Maintenance Maintenance Crew Contractors Vendor Relationships Benefits of outsourcing PM and Maintenance Tracking maintenance requests Turnovers and Renovations

Kim stallings

How Claims Work

UH-OH! So you Think you’ve had a claim?

Call your Agent to verify claim Call Insurance Carrier to Report Claim What is the Process on a Claim? Call your Agent to verify claim Call Insurance Carrier to Report Claim Meet Adjusters Sign Loss Settlement Cash a Check

Why Call my Agent? On site management Policy may not cover all possible claims There may be a sublimit or threshold amount Deductible amount may make it unwise Clue Report Impact may be unwise Guidance on claim filling times and process Processing Knowledge

Calling the Carrier…. You will get a claim # You will be assigned an adjuster The Agent may have to file your Claim Varies carrier to carrier Calling the Carrier….

Meeting the Adjusters 2 kinds of adjusters Public TPA(3rd Party Aduster) Multiple Adjusters per Claim Arrange for your Contractor to also meet you Be Nice…Be Educated…

Loss Settlement Document outlining the Adjusters opinion of the claim Explains the disbursements Allows you to Contest Execution of Agreement allows claim to start Typically 2 checks (ACV & Recovered Depreciation) Can request more for claim at the end-prove case/show records Arbitration/Mediation/Subrogation Loss Settlement

Co-Insurance Did/Should (is it >< or = to Co%) *Loss Amt – Ded The Worst kind of Deductible! –Really a Penalty! NIL, 80%, 90%, 100% of value or expressed as a price per Sqft. Did/Should (is it >< or = to Co%) *Loss Amt – Ded Your Check….. In Every Policy

Meet Adjusters Again Verify completion of work Start argument if necessary for Additional Expenses Agree on Closing Claim Be Nice…Be Educated…

What is NOT a Claim? Pre Existing Damage Damage not from a covered Peril Old worn out mechanical systems Exterior sewer pipes Foundations Damages under the Deductible Damages that are over 1 year from Claim date Damages under or over the Sublimit Routine Maintenance Items Damages when no Insurance policy is in effect and up to date on payments What is NOT a Claim?

The Takeaways Your Insurance Your Claim Agents should assist Be Educated on your Policy Be Educated on the Process Have Contractors with you Don’t make Frivolous Claims Be Aware of Co-Insurance

Everything Fits Together……. Any Questions…..?

Investor Knowledgeable Investor Friendly Investor Knowledgeable

Register with code ALLSTAR for a 20% discount on Early Bird tickets Register with code ALLSTAR for a 20% discount on Early Bird tickets.  Early Bird is almost sold out so REGISTER TODAY for our best pricing.  Text ALLSTAR to 797979 for Cathy's direct registration link and special price.

See you Apr 19th for the next meeting of the Landlord Investor Network!