re: ALL Landlords take notice
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Alex Gurevich
Feb 5, 2024, 4:32:43 PMFeb 5
to InvestorUndergroundAustin
Hey Ladies and Gents,
There was an interesting landlord / tenant case being litigated in Travis county in recent years. Yes, years. It started in 2015 when a landlord sued tenant, and it turned into a counter suit, appeals, etc... Just now wrapped up.
All those who have rentals or aspire to have them in the future should take notice.
A (very) short summary
- Landlord committed 6 lease violations: not returning Sec. Deposit, retaliating against tenant, 3 itemized violations related to a sliding door security devices (pin lock, security bar, latch), failure to install keyless entry deadbolt.
- The initial award to tenant including attorney's fees was $48K.
- Landlord went to appeal in a higher court.
- The final award to tenant was $160K including various court costs, legal fees, AJ fees, writ fees, 18% interest from the date of original judgment, etc.
I attached a couple of PDF pages below with summaries, if you'd like to take a look.
Conclusion -- treat your tenants right, have properties in good repair and up to required codes. Certainly, if tenant complains about problems, get these issues resolved ASAP, and document well both the communications with tenants and actions you take to address tenant concerns.
I'm thinking, it'd take $300-$500 tops to fix the security issues in this case.
Obviously, far from every landlord gets sued for these violations. But this was a case where a "contingency fee" attorney represented the tenant. The lawyer was not going to leave ANY stones unturned to win the case.... and landlord offered them enough room to get a juicy win.
I happen to be familiar with that tenant's lawyer in connection with a deal I've done on another property. His firm was relentless initially in getting a fat judgments (in that case nearly $300K), and then in collecting on the judgement against the guy who was selling me his house -- from seizing cash from his bank accounts, to secondary cars, to real estate. They made that debtor's life miserable for years.
I happen to be familiar with that tenant's lawyer in connection with a deal I've done on another property. His firm was relentless initially in getting a fat judgments (in that case nearly $300K), and then in collecting on the judgement against the guy who was selling me his house -- from seizing cash from his bank accounts, to secondary cars, to real estate. They made that debtor's life miserable for years.
Happy (and safe) landlording!
For Austin Area Homeowners:
> Funds for HOA payments
> Funds for mortgage payments
> Funds for property taxes
> Funds to pay off credit cards & other debt
> Funds to pay off liens & judgments
> We buy payments on Notes and Leases
> Funds for HOA payments
> Funds for mortgage payments
> Funds for property taxes
> Funds to pay off credit cards & other debt
> Funds to pay off liens & judgments
> We buy payments on Notes and Leases
(can buy partial payments too)
> ...And we also buy houses, 2-4 units
Dan Castro
Feb 5, 2024, 4:49:18 PMFeb 5
to Alex Gurevich, InvestorUndergroundAustin
Thanks for sharing Alex!
That's good stuff!
Take care,
Dan Castro
CEO, Investor Underground
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Randy Gool
Feb 5, 2024, 5:07:41 PMFeb 5
to Dan Castro, Alex Gurevich, InvestorUndergroundAustin, Randy Gool
Makes us all want to run out and buy a rent house, doesn't it? Last eviction I had was in Williamson County that lasted 2 years and $45K in attorney fees. I did get a $200K judgement on a person that had no assets. In the beginning I could have paid them $20K to leave and I said hell no. Looking back that would have been a great deal. Avoid going to court whenever you can.
Randy Gool
Best Regards!
Randy Gool
Texas Real Estate Broker
NRDS ID# 785014122
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Dan Castro
Feb 5, 2024, 5:12:27 PMFeb 5
to Randy Gool, Alex Gurevich, InvestorUndergroundAustin
Well said Randy!
Dan Castro
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Guy Gimenez
Feb 6, 2024, 8:33:45 AMFeb 6
to Alex Gurevich, InvestorUndergroundAustin
I will never have a contract of any sort without binding arbitration included. Can it be usurped? Sure...we live in a world where much of the the judiciary have become social activists...but I will take all measures to stay out of court. And of course understanding a landlords obligations under both the TX property code and the lease agreement is critical...and these are areas where I find most landlords fall woefully short.
Guy E. Gimenez
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