With factors driving more people to rent than buy, the renters market is getting more competitive and more expensive. Landlords in Texas, as in other states, are having to deal with a very negative side of this exchange: evictions. This is why a writ of possession Texas surety bond is becoming very familiar to both landlords and tenants.
Rent Increase In Texas
According to a story on Market Place, the economy’s inflation is having a steady impact on how much income a renter spends on their rent. Rents in Dallas, Houston, and Austin, Texas are higher by over 5 percent since the past year which is more than the national average of 3 percent.
Putting that in perspective, a renter in Dallas is believed to spend at least 30 percent of their income on monthly rent.
The increase in rent is only one cause of evictions.
Job loss, health issues, and unexpected expenses take their toll on an individual or family budget. This means people have to move somewhere near their new job, closer to a better school, or a place that makes paying the rest of their bills affordable.
Bond Protection For Landlords And Tenants
Landlords have always had to remove some tenants who failed to pay or keep up property. Evictions in Texas isn’t a new thing by any means nor is a writ of possession Texas bond.
It’s a standard eviction process in Texas but as more attention is being paid to the general rise in cost-of-living and eviction rates it becomes more imperative for landlords to protect themselves and their tenants.
A writ of possession Texas surety bond provides that protection.
When a landlord seeks to take possession of the property and remove the Tenant, the state of Texas requires a writ of possession bond - this is also known as a replevin bond or claim and delivery bond. The surety bond must be secured by the Texas landlord if they wish these actions to occur before a court makes a final judgement in the eviction hearing.
The writ of possession Texas bond guarantees that if the repossession and removal are later deemed wrong by the court that the tenants will be able to collect damages. A Texas tenant’s right to be protected is always in play.
Make the right move as a landlord and let Jurisco secure a writ of possession Texas bond before moving forward. Jurisco provides same day surety bond services and the lawyer-trained staff understand all writ of possession Texas requirements that a landlord must abide by before removing a tenant.