Legal Question in Real Estate Law in Texas
Uncollect security deposit.
My husband and I recently purchased an investment home in Boerne Texas. We hired a property management company to handle the property while we are stationed in another state. Our management company did not collect the full amount of the deposit at the time of rental and did not do the necessary background investigation on the tenants they put in our new home. We were never informed of this verbally or in writing for approval. The tenants have since bounced two rent checks, only one of which we were informed of and have been evicted from the property. The repairs made to our new home will total more than the security deposit that was originally collected. What rights as owners do we have to make the property management company pay for any damages exceeding what was collected. The house was completed in Feb. of 06, rented in April of 06, vacated in June of 06. Do we have any resources available to us as owners to help with this situation?
2 Answers from Attorneys
Re: Uncollect security deposit.
Sorry, but whatever rights you have will be governed by Texas law and not California law. Despite the fact that I do not know Texas laws, I am sure your remedies, if any, would be embodied in your contract with the managment company. Did they agree to do something they did not? If so, then they breached their contract with you.
Re: Uncollect security deposit.
I would agree that Texas law will apply, and you should probably re-ask your question directed to Texas LawGuru participants. Having said that, I would add that while the contract terms and the possibility of a breach of contract should be the first line of approach, the Texas lawyers who assist you may also raise the possibility that, even if there were no breach of an express term of your contract, the manager was negligent and may be sued under a tort theory.
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