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A few years ago, they passed a new law in Garland Texas that you have to register each of your rental properties with the city and pay a $65 a year fee + get it inspected annually or when the tenant moves out.
all my properties are in a trust. So the trust is the owner.
These forms ask for drivers license number and birthdate of the owner of the trust. plus work, home, cell phones and emails.
I put NA NA NAThey also require me to provide detailed info on each tenant, where they work, their home, work, cell numbers and email addresses.
It is a total invasion of my tenant’s privacy. I bet I could get sued for giving out their personal information.
what do you do when the trust agreement says don’t disclose who the owner is but the city ordinance says you have to?
I wrote “confidential for privacy” but they sent it back and said I have to submit the info to get a permit.
I don’t want to play this BIG BROTHER game.
Any suggestions?
Jackie,
The anti-capitalist socialists in Illinois want to do the same thing. You would pass out if you heard some of the laws that are being discussed in our state right now. Everything from licensing and union only labor for repairs, to forgiving late rent if they simply pay the existing months rent to keep current. This is a great thread to discuss registration. I believe many of us either are, or will be going through the same thing.Do you have sandwich/master leases set up? Could you put the information from the master lease on the form? If the master lease never ends, you will not have to have inspections. What is their reason for asking for all of this information? Since when did Texas become such a heavy handed totalitarian state?
Investing in Texas has been getting harder for the last 5 -6 years. The government keeps taking things away from us.
I think it was in 2001 they changed the rules for selling with a Contract for Deed. If you’re a buyer it is great. But if you’re selling with a contract for deed it stinks plus it requires a 60 day notice to cure a default whereas a Warranty Deed only requires a 39 day notice.
A few years ago they took away lease options. If you buy with a lease option, you need to move in to the house. If you sell with a lease option, there has to be no loan on the property (free and clear) or if there is, the underlying lender must be notified and cashed out within 6 months. PLUS you cannot make the option consideration non-refundable. If you fail to give annual accounting, you can be forced to pay triple what the tenant/buyer has paid to you since they moved in. Needless to say SMART investors in Texas are not doing lease options anymore.
Then they started this attempt to force landlords to reveal private information and mandantory inspections each year. I really feel it is an attempt to eliminate rental properties in some areas.
The latest thing is you can only do 5 seller finance deals a year unless you have a mortgage brokers license.
I’m sure there will be more to come….
They need to just put a sign at all borders of Texas that says, “Real Estate Investors NOT Welcome”
Joe,
A land trust does not change real property to personal property.
the beneficial shares are personal property.
The city ordinance covers any real or personal property that a tenant(s) live in.
Good try though.
Jackie
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