What You Need to Know

TAR sent out this information to REALTORS® across the state, and it is packed with information you need to know. We are sending it out as well to try to make sure as many people as possible know about all these important items. Please take special note of the ability to apply for assistance from the Texas REALTORS® Disaster Relief Fund (or to donate to it if you are able), as well as the information dispelling the inaccuracies about the new homeowner’s insurance law that goes into effect on Friday (spoiler alert: it doesn’t impact regular insurance claims and only applies to lawsuits filed against insurance companies).

Thank you, and please know your REALTOR® family is here for you.

Cindy Hamann
HAR Chair of the Board

The destruction left by Harvey is on a scale Texas has never experienced. With estimates of the economic impact reaching $160 billion, it has the potential to become the costliest natural disaster in U.S. history. And the human toll is just as steep, with tens of thousands displaced and over 200,000 already registered for assistance. A large part of our Texas REALTOR® family lives and works in the communities included in the governor’s declaration of disaster, and the Texas Association of REALTORS® is committed to helping them rebuild through the Texas and National Association of REALTORS® Relief Fund, which has received support from NAR and state and local associations across the nation. But we know recovery will be a long, costly process. Below you’ll find information about how to apply for assistance or donate, legal questions related to Harvey, and other resources and information you might need.

How you can help those affected by Harvey
The NAR/Texas Association of REALTORS® Relief Fund helps people who have suffered losses due to natural disasters in Texas. One hundred percent of donations go directly to those affected by the storm, and contributions are tax-deductible to the extent allowed by law.

Thanks to generous contributions from individuals and from state and local associations of REALTORS® in Texas and around the country—and with more than $1 million allocated from NAR’s REALTORS® Relief Foundation—the Texas Association of REALTORS® Relief Fund will provide much-needed assistance to many people affected by this devastating storm.

What to do with Harvey-affected transactions already under contract
Thousands of clients are in limbo due to the devastation left by Hurricane Harvey. And while every situation is different, here are sections in the TREC One to Four Family Residential Contract (Resale) and related addenda that might apply to transactions affected by this disaster. The TAR commercial contracts and other TREC contracts have similar provisions. Read more

Texas REALTORS® with additional questions about transactions affected by Harvey can call the TAR Legal Hotline at 800-873-9155.

TAR clarifies misinformation about new homeowners insurance law
Contrary to misinformation on social media and in some news reports, a new Texas homeowners insurance law known as House Bill 1774, which takes effect September 1, will not change the homeowners insurance claims process—no matter when claims are filed. Read more

Important information for landlords considering raising rents in counties designated as disaster areas
With high demand for shelter in areas of Texas affected by Hurricane Harvey, some landlords are considering raising rent for intact properties. However, raising rents on current or prospective tenants may be considered price gouging, which is illegal. Read more

What are tenants’ and landlords’ rights for terminating a lease due to Harvey storm damage?
Paragraph 25 of TAR’s Residential Lease deals with casualty loss, which includes a loss due to weather events, such as Harvey. If the property is deemed partially or completely uninhabitable, Paragraph 25 references the Texas Property Code Section 92.054 for guidance. Read more

TREC extends August license expirations for 30 days
If your license is set to expire in August, the Texas Real Estate Commission has extended that date for 30 days to give those affected by Harvey some relief. Read more

If you’re registered but unable to attend the Texas REALTORS® Conference
The Texas REALTORS® Conference will be held as scheduled September 8-11 in Dallas. TAR understands that some members who registered may not be able to attend due to circumstances brought on by Harvey. Although the cancellation deadline has passed, TAR will ensure that no member affected by the storm will be charged for cancelling. If you need to cancel or modify your conference registration and/or hotel registration, please email the TAR Meeting Planning Department or call 800-873-9155 at your earliest opportunity.

Click here for additional resources and information on texasrealestate.com.

Copyright © 2017 Texas Association of REALTORS®


HAR Communications Dept.

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