Law isn’t everyone’s cup of tea. Just picturing the fancy legal jargon and the thousands of words in small print is enough to make anyone’s head reel!
Fortunately, we’ve done the hard work for you and condensed three must-know property and real estate laws in Texas. Check them out below.
1. Rental Agreements
What do you do if a tenant trashes your home? Your first port of call is checking the rental agreement they signed with you. Rental agreements are also known as home leases and act as a legal contract between the property owner and the tenant.
Rental agreements contain legally binding clauses to protect both parties. In simpler words, if either the tenant or property owner goes against the rental agreement, they must compensate the other party.
Rental agreements contain the names of the tenant and property owner, the property’s address and description, the rental and security deposit amounts, and the length of the agreed stay. They also contain additional details like rules on pets and maintenance procedures.No matter what rules you want to set for your house before you rent it, you must list them in the rental agreement.
2. Property Fencing
Did you know there are nearly a quarter of a million farms and ranches in the Lone Star State? That’s a whole lot of fencing to put around properties! If you’ve bought a farm or ranch in Texas, you’re not legally required to put a fence around it. However, we recommend investing in one anyways for two reasons:
First, fences will mark your property and make trespassers think twice about walking onto your property. It’ll also prevent trees on neighboring properties from taking up your land. Second, if someone else’s tree branches are taking up space on your property, Texan laws state that you can cut those branches off. However, the last thing you want is making enemies of your neighbors—especially if you’re new in the area—so prop up a fence and save yourself the trouble!
3. Security Deposits
Did you know there’s no limit to the amount property owners can charge tenants for security deposits in Texas? This might sound great if you’re a property owner, but we wouldn’t recommend charging an astronomical security deposit for one simple reason—nobody’s going to pay it!
Texas law requires tenants to give property owners a 30 or 60-day written notice before moving out to get their security deposit back. The only lawful reason for a property owner to take out money from the security deposit is if the tenant fails to pay their rent.
If you’re looking for property investment advice in Texas, reach out to Z Finance Solutions today. We pride ourselves on providing expert property advice to streamline the home purchasing process, whether you’re a seasoned investor or a first-time home buyer in Texas. Our combined experiences in mortgages and realty leave us well-positioned to offer expert advice on home buying loan programs in Texas for every client.
Send us a message today to find out more.