Since the launch of TAA’s Lease 2.0 in February, TAA has been actively seeking member input and feedback. As part of that effort, TAA President Clay Hicks appointed two workgroups to help us identify minor adjustments that might be needed in advance of our regular lease review cycle. The Legal Workgroup, led by Brian Cweren, and the Operations Workgroup, featuring a group of operators from a variety of owner member companies, both reviewed the lease and related forms and made recommendations for minor adjustments.
TAA’s Executive Committee approved recommended changes, and TAA’s Board of Directors was notified of updates at its meeting in Galveston last month.
Revised forms are expected to be released in TAA Click & Lease by the end of August, and printed versions will be available by or before early September. Below is a summary of the adjustments we’re making to the Lease, which do not affect any fields or mapping for TAA Click & Lease users and integration partners.
- In Box L, change the label for “concierge trash” to “trash service,” which is broader and gives owners flexibility
- In Box M, add “utilities” to clarify that they may be covered under this category and not necessarily be variable charges
- In paragraph 11.1, rework language for clarity and to remove duplication
- In paragraph 20.1, emphasize that the Inventory and Condition Form should be returned within 48 hours
- In paragraph 23.4, rework language related to holdovers to help avoid potential confusion and misinterpretation, and
- In paragraph 24, add the mortgage subordination clause to the lease from the community policies addendum.
In addition, we’re making some additions to TAA’s Community Policies Addendum, including:
- In paragraph 4, rework language to add TCPA provisions and reinstate a clause from the previous version of the lease regarding access to the dwelling by a previous resident. We’ve also added a place to provide the after-hours phone number
- In paragraph 9, we’ve added a simplified fair housing policy, which covers owners that don’t have a separate policy and stipulates it’s not intended to expand or limit obligations under the law.
Please email firstname.lastname@example.org with comments or questions about forms changes, and watch for updates soon to TAA Click & Lease and TAA REDBOOK Online.