Property Management Webinar Series Property Management Forms Instructed by Kinski Leuffer, Associate Counsel January 19, 2011
Outline I. Forms Available II. III. IV. Recent Changes to Forms New Forms Benefits V. Q&As
I. Forms Available How do you find property management forms?
I. Forms Available
I. Forms Available Categories: Residential Lease and Addenda Numeric: 2001-2011 Property Management Agreements Numeric: 2201 2221
I. Forms Available Listing Agreement: Residential Real Estate Listing Agreement, Exclusive Right to Lease 1102
I. Forms Available Does TAR have a form for that?
I. Forms Available Residential Lease and Addenda: 2001 Residential Lease 2002 Agreement Between Brokers for Residential Leases 2003 Residential Lease Application 2004 Pet Agreement 2005 Extension of Residential Lease 2006 Residential Lease Inventory and Condition Form 2007 Residential Lease Guaranty 2008 Addendum Regarding Lead-Based Paint 2009 Agreement for Application Deposit and Hold on Property 2010 Pool/Spa Maintenance Addendum 2011 Residential Lease for a Multi-Family Property Unit
I. Forms Available Property Management : 2201 Residential Leasing and Property Management Agreement 2202 Commercial Property Management Agreement 2203 Repealed Addendum for Leasing Services 2204 Multiple Property Addendum 2205 Addendum for Authorization to Act for Owner Before Owners Association 2206 Owner s Notice Concerning Condition of Property Under Property Management Agreement 2207 Property Manager s Inventory and Condition Report 2208 Notice Terminating Right of Occupancy 2209 Late Notice or Notice of Other Breach of Lease 2210 Notice to Tenant of Change in Management and Accountability for Security Deposit 2211 Lease Amendment Concerning Tenant Change
I. Forms Available More Property Management : 2212 Denial of Lease Application 2213 Agreement to Pay Past Due Amounts Under Lease 2214 Request for Rental History 2215 Report of Incident Occurring on Property 2216 Itemization of Security Deposit 2217 Notice of Landlord s Intent Not to Renew 2218 Notice of Tenant s Intent to Vacate 2219 Request for Employment 2220 General Information for Tenant of Property Facing Foreclosure 2221 Amendments to Residential Leasing and Property Management Agreement
I. Forms Available 2 Additional Resources: Privacy Policy Remember: If you are requiring an individual to disclose their social security number, you must have a privacy policy in place and make it available to the individual. TB&CC 501.052(a). Tenant Selection Criteria Remember: At the time an applicant is provided a rental application, the landlord is required to make available printed notice of the landlord's tenant selection criteria and the grounds for denial. TPC 92.3515(a).
II. Recent Changes Questions about the forms??? What forms have been revised? What paragraphs changed? Why were the forms revised?
II. Recent Changes Remember: Use the most current forms. The Code of Ethics requires you to competently manage the property of your client (property owner).
II. Recent Changes What forms were recently revised? 2001 Residential Lease 2005 Extension of Residential Lease 2011 Residential Lease for Multi-Family Property Unit 2201 Residential Leasing and Property Management Agreement 2210 Notice to Tenant of Change in Management and Accountability for Security Deposit 2220 General Information for Tenant of Property Facing Foreclosure 2221 Amendment to Residential Leasing and Property Management Agreement
II. Recent Changes 2001 Residential Lease: Paragraph 18: Repair deductible was removed. 2005 Extension of Residential Lease Paragraph A: Repair deductible was removed to comply with the lease. 2011 Residential Lease for Multi-Family Property Unit Paragraph 18: Repair deductible was removed to comply with the lease.
2005 Extension of Residential Lease
II. Recent Changes 2201 Residential Leasing and Property Management Agreement Paragraph 4: Foreclosure paragraph was added to explain the property manager s rights and options in the event of a foreclosure on the owner s property.
II. Recent Changes 2210 Notice to Tenant of Change in Management and Accountability for Security Deposit Paragraph 1: Reflects the changes that were made to Paragraph 4 of the Property Management Agreement (Broker may terminate this agreement). Provides notice: 1) There has been a change in management because the property manager has terminated his relationship with the property owner; and 2) The Current Balance of the security deposit is being returned to the tenant.
III. New Forms New Forms: 2220 General Information for Tenant of Property Facing Foreclosure 2221 Amendment to Residential Leasing and Property Management Agreement
III. New Forms What do these forms do? 2220 General Information for Tenant of Property Facing Foreclosure If the tenant requests information from you about the status of the property, you should provide this form that explains the tenant s rights in the event of a foreclosure. 2221 Amendments to Residential Leasing and Property Management Agreement: A property manager and property owner may use this form to amend the existing agreement.
IV. Benefits All these forms are available as a member benefit.
IV. Benefits Why should you use these forms? Current Input for revisions is gathered from fellow property managers. Suggestions (new forms) come from fellow property managers.
V. Q & A Q1: What is the difference between Paragraph 4A and 4B of the Residential Lease?
V. Q & A Q1 Answer: Paragraph 4A refers to the Primary Term of the Lease. On the other hand, Paragraph 4B applies if the lease is on a monthto-month basis.
V. Q & A Q2: The TAR lease states that rent is due on the 1 st of the month. When is the earliest date that late fees may be charged?
V. Q & A Q2 Answer: If you are using TAR s Residential Lease and rent is due on the 1 st of the month, the earliest date you may charge late fees is the 3rd of the month.
V. Q & A Q3: A property owner hires a property manager to manage the owner s property. The property consists of 10 mobile homes, but the owner only wants the property manager to manage 5 of those mobile homes. What form should the property manager use?
V. Q & A Q3 Answer: The property manager should use the Residential Leasing and Property Management Agreement. Since the property manager will only be managing some of the mobile homes, they should also use the Multiple Property Addendum (TAR-2204).
V. Q & A Q4: If a property owner persists on using an older form, may I do so?
V. Q & A Q4 Answer: No. You should inform the landlord that the form is not current, and you are obligated to use a current form. Also, the older forms will not reflect current statutory changes.
V. Q & A Q5: What is the difference between the Notice Terminating Right of Occupancy (TAR-2208) and the Late Notice or Notice of Other Breach of Lease (TAR-2209)?
V. Q & A Q5 Answer: The Notice Terminating Right of Occupancy (TAR-2208) is a Notice to Vacate. The Late Notice or Notice of Other Breach (TAR-2209) is used prior to 2208 and provides notice that the tenant has breached a provision of the lease.
V. Q & A Q6: Does the Residential Lease (TAR-2001) allow the tenant to terminate the lease early?
V. Q & A Q6 Answer: No. The tenant does not have a right to early terminate unless the tenant has a special statutory right to early termination under Paragraph 28 or the landlord agrees otherwise.
V. Q & A Q7: A tenant s lease expired and is currently on a month-to-month status. The initial lease was written on a TAR Residential Lease (TAR- 2001) that was dated before June 1, 2010. Does the Extension of Residential Lease (TAR-2005) apply to month-to-month leases?
V. Q & A Q7 Answer: Yes, the form applies to all leases, including monthmonth leases. If the lease is dated before June 1, 2010, the first version of the form should be provided to the tenant.
TAR Forms 2001 Residential Lease 2002 Agreement Between Brokers for Residential Leases 2003 Residential Lease Application 2004 Pet Agreement 2005 Extension of Residential Lease 2006 Residential Lease Inventory and Condition Form 2007 Residential Lease Guaranty 2008 Addendum Regarding Lead-Based Paint 2009 Agreement for Application Deposit and Hold on Property 2010 Pool/Spa Maintenance Addendum 2011 Residential Lease for a Multi-Family Property Unit 2201 Residential Leasing and Property Management Agreement 2202 Commercial Property Management Agreement 2204 Multiple Property Addendum 2205 Addendum for Authorization to Act for Owner Before Owners Association 2206 Owner s Notice Concerning Condition of Property Under Property Management Agreement 2207 Property Manager s Inventory and Condition Report 2208 Notice Terminating Right of Occupancy 2209 Late Notice or Notice of Other Breach of Lease 2210 Notice to Tenant of Change in Management and Accountability for Security Deposit 2211 Lease Amendment Concerning Tenant Change 2212 Denial of Lease Application 2213 Agreement to Pay Past Due Amounts Under Lease 2214 Request for Rental History 2215 Report of Incident Occurring on Property 2216 Itemization of Security Deposit 2217 Notice of Landlord s Intent Not to Renew 2218 Notice of Tenant s Intent to Vacate 2219 Request for Employment 2220 General Information for Tenant of Property Facing Foreclosure 2221 Amendments to Residential Leasing and Property Management Agreement
Thank you Thanks for your participation in our 5th PM Webinar! Future Webinar March Invitation will be sent out Questions? Contact the Legal Hotline 800/873-9155 You can download this presentation by visiting the Property Management Page. View the Texas Property Code. Give us your feedback! Send to: kleuffer@texasrealtors.com