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Late fees law changes September 1

Synopsis

Are you ready to implement the new law affecting late fees taking effect September 1? Here’s how the Texas Apartment Association is helping members prepare for a smooth transition.


Key takeaways

  • The Texas Apartment Association Board of Directors has approved revised lease language to comply with the new law. Revised leases will be available August 28 in the TAA Click & Lease program for use with leases entered into or renewed September 1 or later.
  • TAA is offering members a free legal webinar on August 7 at 10 a.m. to do a deep dive on complying with the new law.

A new late fees law takes effect September 1, 2019—which means it will apply to any leases entered into or renewed on or after that date. After successfully lobbying for this new legislation to provide more certainty to members and residents, the Texas Apartment Association is taking steps to educate members and prepare them for the transition.

Free late fees webinar August 7

TAA will host a free webinar on August 7 for members, to explain the new legislation and review operational changes and options presented by the new legislation. The webinar will be instructed by TAA General Counsel Sandy Garcia Hoy and TAA Of Counsel Bill Warren.

The 75-minute webinar begins at 10 a.m. Central. Learn more about the webinar and register here.

Lease revisions

The TAA Board of Directors approved changes to the TAA Lease at its July meeting, and leases will be available on TAA Click & Lease August 28 for use on leases executed September 1 or later. Local associations will also have the option to print paper leases on demand for members who are not using Click & Lease.

REDBOOK Online, TAA REDBOOK

Late fees information in the TAA REDBOOK Online will also be revised prior to September 1, and the new published version of the TAA REDBOOK, available in February 2020, will also include this information.

You can read more about the late fees legislation in our special Legislative Update edition of Viewpoints here.

More from August 2019 Member Newsletter

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