According to Business Insider Texas remains one of the best states to invest in rental properties. Texas boasts several cities with great rental property returns including San Antonio and Dallas. In fact, Dallas was ranked number one in October for the 13 best places to buy rental property. Texas may be a great place to invest in rental properties because of the states relatively low home prices and high monthly rent returns, but Texas can be where unwitting landlords or property managers find themselves in legal trouble if they do not abide by their landlord responsibilities.
According to Nolo, there are several laws a landlord in Texas must follow to stay out of legal trouble:
Follow Federal and State anti-discrimination laws: In Texas, a landlord can reject tenant applications based on bad credit history, negative references or other facts that may make a tenant risky, but they cannot discriminate based on race, religion, national origin or familial status.
Follow State Rent Rules: Texas has several state rental laws including laws for late fees, terminations for not paying rent and rent increase rules.
Do not break Texas Security Deposit Limits or Return Rules: Texas Security Deposit rules include giving tenants back their security deposit within 30 days of them moving out and itemizing any deductions taken from their security deposit.
Prepare a legal lease or rental agreement: Texas leases cannot include illegal clauses that wave tenant rights.
These are just some of the important legal responsibilities that landlords and property managers must abide by if they are operating rental units in Texas. If you’re a landlord and property manager in Texas, make sure that you stay abreast with all new rental laws to avoid failing victim to legal trouble.
This post is provided by RISSOFT Residential and Commercial Property Management Software, specializing in innovative and cutting-edge property management software for all 50 states. Request a demo or contact us today to receive more information.
Disclaimer: The information provided in this post not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.