Special thanks to Jeff Barringer and Paul Kellogg with the McGlinchey law firm who assisted TMHA in the development of our new Lease with a Purchase Option Addendum. We have updated our summary and background on leases with purchase options and have also included a detailed explainer on how to use the new form.
Jeff will also present in-person on this topic at TMHA’s coming Annual Convention in September.
In addition to the new addendum, is a consumer notice form for community operators who what to start using electronic signatures in their businesses. In order to comply with the provisions of the Electronic Signatures in Global and National Commerce Act and Texas’ Uniform Electronic Transactions Act, Chapter 322, Business and Commerce Code, a community operator who wants to use electronic signatures must provide a clear and conspicuous statement disclosing to a consumer certain rights and requirements under the law. Following the required disclosure, the community operator should obtain the consumer’s consent prior to utilizing electronic signatures. We have updated our TMHA leases as well to allow for the possibility of e-signatures, including the Spanish translated versions of our leases.
Recall the Spanish translated versions are to be used as informational aides only to provide optional assistance to prospective tenants. TMHA strongly encourages members to enter and execute final leases and contracts in the English versions of all forms.
These new additions to our TMHA member forms catalog and wikis are completely optional, non-mandatory, additions that some of our members may choose to incorporate into their operations.