Lease Option & Rent to Own Homes in Austin, TX

Changes to the Texas Property Code (Sec. 5.061 et seq.) made in 2005 define Austin lease option/rent to own homes in Austin, Texas for longer than 6 months as “executory contracts” which are subject to strict regulation under the Code. Numerous initial and ongoing requirements must be observed and the burden is on the landlord/seller to meet these. Failure to do so incurs not only penalties under the Property Code but potential liability for the landlord/seller under the Deceptive Trade Practices Act.