June 26, 2019
In discussion of the new statewide rent reform package, much has been made of the repeal of existing laws by the new package. However, an analysis by Greysteel points out four areas in which there is “no precedent.”
These four all-new provisions include the following:
• The Rent Guidelines Board cannot set additional increases based on the current rental cost of a unit or the amount of time since the owner was authorized to take additional increases.
• Maximum collectible rent increases now use the average of the five most recent RGB annual rent increases for one-year renewals.
• The state Division of Housing and Community Renewal must report annually on implementation, administration and enforcement of the rent regulation system.
• The package creates transformational protections for all residential tenants, bans the use of tenant blacklists, limits security deposits, includes protections for tenants during the eviction process, and creates the crime of unlawful eviction.
Connect Texas Multifamily will take place August 15, 2019 in Dallas. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny