The Preferred Tenant Program was designed to exact specifications to meet Texas Property Code 92.111 allowing tenants to pay a monthly Fee in Lieu of a Security Deposit. In essence, it follows the same logic as renting a hotel or an AirBnB – you pay for the damages incurred at the end of the lease. The result was far too many tenants unwilling to meet their financial obligations to the condition of the home they rented with RentWerx. Our attempts to represent the homeowner by collecting funds to compensate for damages at the end of the lease agreement have fallen short with too many tenants not willfully paying what damage they caused to the home they rented. Those non-paying tenants have been put into collections affecting their credit history.

As the property code is written and passed into law by Texas legislators, the Fee in Lieu of Security Deposit Program is NOT a fair and equitable agreement for the Homeowner, the Property Manager, or the Resident. It is an unfortunate situation, and we apologize for any inconvenience, but effective immediately all renewing tenants will be required to put forth a Security Deposit prior to lease renewal. Failing to comply will result in a non-renewal of the lease agreement.