Pg. 06 - The Bad Bills Are Likely
Dead This Session. Let’s Recap
Pg. 16 - CT Electric Rates Set to Jump As Regulators Signal
Approval for Bill Adjustments
Pg. 08 - TenantTracks
Collaborates with CT REALTOR Boards
Pg. 26 - A Major Source of Eviction Records IS NO LONGER Providing Housing Court Records from CT
Table of Contents
Publisher’s Message
A Message From Bob DeCosmo, President Of CTPOA
News And Views From The Capitol
The Bad Bills Are Likely Dead This Session.
Let’s Recap:
Realtor Report
TenantTracks Collaborates with CT REALTOR
Boards
Insurance Insights
What is Rental Property Insurance?
Property Management Tips & Tricks
Spring Cleaning Recommendations for Landlords Helping
By Bob DeCosmo Advocate For Property Owner Rights
Landlords and tenants uniting?
While it might seem odd to some that landlords and tenants are forging a coalition, but in fact it is a natural alliance. Good tenants deserve good landlords and vice-a-versa. For the past few years, the relationship between tenant advocates and property owners has not been very cordial at the State Capitol, however good landlords and good tenants get along fine.
What is different at the Capitol is some tenant advocates are political advocates that want to change capitalism to socialism for our economic structure and there is no common ground in the housing agenda.
Policies to conceal criminal records, conceal eviction records, create a winter eviction moratorium, and eliminate lapse of time evictions will hurt good tenants by forcing higher rents in the future and putting good tenants at risk from troublesome and possibly dangerous renters
moving in next door to them.
Landlords historically just wanted to run their businesses and not get involved in the political process. This all changed in 2023 when rent control was introduced and awakened many landlords in Connecticut. Government Affairs Committees in real estate organizations became popular and people in the housing industry began to take notice of the direction that policy was heading in Connecticut.
Last month, a fundraiser for the Super-PAC, the Property Owners Defense League was held in New Hartford and drew many concerned real estate individuals to the event. The message was simple,
ELECTION OUTCOMES MATTER.
While property owners have access to money, tenants have political power with their votes. Landlords are now engaging their tenants and talking about what is transpiring in Hartford. These tenants will be encouraged to help defeat the politicians that are pushing harmful housing policies come election day.
The PAC will fuel this effort with funding to defend legislators that help property owners and good tenants and target politicians that want to reshape the economic structure of our housing industry. It’s time for both tenants and landlords to work together to put a stop to the recent housing agenda that will harm all good landlords and good tenants in Connecticut.
The Bad Bills Are Likely Dead This Session. Let’s Recap:
By: CTPOARegarding SB143:
This bill insight was provided by David Haberfield, Connecticut
Landlord and Advocate:
The proposed Connecticut legislation that would have eliminated lapse of time evictions and destroyed property rights and further raised rents is most likely dead.
Hopefully the misguided people, who have no understanding of housing who proposed it, were afraid of voter backlash after so
many people worked to educate citizens of Connecticut on why lapse of time evictions are necessary and needed.
If it had passed, Connecticut leases would have been the only contract in the country that didn't end when it ended. The tenant could have forced the contract to continue past its expiration date which is absolutely improper and ridiculous.
On behalf of homeowners and landlords everywhere, thank you to everyone who made an effort to push back against that exceptional level of stupidity.
Regarding SB5242:
This Bill would have put good tenants in jeopardy and risked their health, safety, and welfare.
• Would allow pedophiles to move into units with single moms and young children.
• Permit those that have committed acts of physical violence against others on multiple occasions to pass screening.
• Arsonists, murderers, and those with numerous convictions for disorderly conduct and breach of peace could not be denied.
• Tenants expect us to be able to protect them and 5242 will put good tenants in harm’s way.
While we believe individuals with serious criminal records need housing opportunities, private landlords are not equipped in most cases to deal with some of the justice impacted individuals with multiple convictions. This bill would have likely forced local mom and pops, who were not prepared to deal with unruly renters, to sell to potentially outof-state landlords.
TenantTracks Collaborates with CT REALTOR Boards
By: CTPOATenantTracks' screening service popularity has grown significantly as quality of data from alternative screening companies diminishes, and now, more REALTOR boards are choosing to affiliate directly with TenantTracks. Most recently to join TenantTracks as an affiliate is the Eastern Connecticut Association of REALTORS (ECAR)!
Here are a few benefits of choose
TenantTracks as a REALTOR:
• Maintain top quality tenant screening data while our competitors do not. Besides
TenantTracks, most screening companies that begin the application process by sending the rental applicant a link to do a background check in CT do NOT currently provide eviction records from the CT courts.
• Added New Hampshire eviction records to our internal database to search for “Alias Name” eviction matches. We now cover; CT, R.I, MA and NH with this superior search logic. The more data we have, the more accurate your reports will be.
• Added the capability to generate an easily shareable link into MLS Rental listings or anywhere else, such as a social media posting making the screening process that much easier for you, tenants and your clients.
• OPEN ACCESS clients can now report negative tenant rental performance directly to our system making for a more accurate consumer report on rental applicants.
• Created a “Report Receipt” dashboard link to be compliant with Connecticut's new law, PA 23-207 tenant screening requirements.
• Access to additional apartment protecting benefits such as pet screening, income verification and more, many features of which are free to
landlords and a great resource to you and your clients.
Signing up is a breeze! Visit www.TenantTracks.com, and click on "Sign Up,". If you’re part of a REALTOR board in Connecticut and unsure if your organization is already affiliated with TenantTracks, reach out to them and ask! If you’re an individual interested in running reporting with TenantTracks or joining as an affiliate member (& earn commission), visit our website or email us at info@tenanttracks.com
What is Rental Property Insurance?
By: Bob Haegele, with forbes.comRental property insurance, also known as landlord insurance, covers risks associated with renting your property (home, apartment, condo, etc.) to others. It can provide financial protection in the event your property is damaged, or someone is injured on your property.
Depending on the policy you purchase, rental property insurance may also protect your rental property income if the property becomes uninhabitable due to a problem listed in your policy.
If you’re considering renting your property, it’s important to check to see what, if any, coverage is available from your existing homeowners insurance.
What Does Rental Property Insurance Cover?
Rental property insurance often includes the following coverage.
Dwelling coverage
This covers physical damage to the building caused by problems listed in your policy, like wind, fire and hail.
Liability coverage
Liability coverage protects you financially if you’re found legally liable for someone else’s medical bills or property damage related to the rental property. It will also cover your legal defense if you’re sued, up to the limits of your liability coverage.
Personal property
If you own items at the property for tenants to use, such as appliances or lawnmowers, they can be covered by a rental property insurance policy. Some insurance companies offer this as optional coverage.
Loss of rental income
If you are unable to rent your property for a period of time because of a loss caused by a problem
problem listed in your policy, such as a fire, the lost rental income may be covered. This is also offered as optional coverage by some insurance companies.
What Does Rental Property Insurance Not Cover?
Certain expenses will not be covered by rental property insurance.
Tenant’s personal property
If your tenant’s personal property is damaged, it is not covered by rental property insurance. Tenants need their own renters insurance for coverage for their personal belongings.
Maintenance or equipment failure
Things sometimes break. But if the hot water heater in one of your rentals dies, you will likely have to pay out of pocket for repairs or for a replacement.
Shared property
Home sharing, such as renting out a spare bedroom or a floor in your house, is generally not covered under a rental property insurance policy. Rental property insurance is intended for properties that are not occupied by the owner.
Flood or earthquake damage
These disasters require their own, separate insurance policies.
If you live in an area prone to such natural disasters and are renting out your primary residence, you might already have a separate earthquake insurance or flood
insurance policy for your home.
Rental Property Insurance Optional Coverage
Certain situations are not usually covered by rental property insurance, but you might be able to add them to your landlord insurance policy, such as:
Vandalism
If your property is intentionally damaged or vandalized, damages typically aren’t covered by a standard property insurance policy. Some insurers offer vandalism coverage as an add-on feature for purchase.
Burglary
Rental property insurance might cover the damage your property sustains in the event of a break-in, but it typically will not cover any stolen items. You might be able to add coverage for items used to maintain the property such as a lawn mower or appliances—at an additional cost.
Property under construction
If your property is under construction, you may be able to purchase special coverage for the structure until it is ready for tenants.
Building codes
If you have to make repairs to a property, you might be required to make certain updates to comply with new building codes. You can sometimes purchase coverage to reimburse you for those situations.
Personal injury
This coverage can help if you are sued for wrongful eviction.
Do I Need Insurance on My Rental Property? Insurance for short-term rentals
If you only rent your primary residence occasionally, you may not need rental property insurance.
For instance, perhaps you go on a few weekend vacations per year and rent your primary residence out during those times. In this case, your homeowners insurance policy might cover you in the event your home is damaged while you are away. That is because homeowners insurance sometimes covers short-term rentals.
Ask your homeowners insurance company if those rentals are covered, as every policy is different. You may need to add an insurance rider to ensure you have adequate coverage.
If you rent out your primary residence frequently, however, it’s generally considered a business and not covered by homeowners insurance.
In this case, look into home-sharing insurance.
Insurance for long-term rentals
If you rent your property for long periods of time, such as for several months or even years, you will probably need rental property insurance to protect yourself from potential financial losses.
How Much Does Rental Property Insurance Cost?
The Insurance Information Institute says that rental property insurance is about 25% more expensive than a standard homeowners insurance policy.
A recent Forbes Advisor analysis found that the average cost of homeowners insurance is $1,854 per year for $300,000 of dwelling coverage and $100,000 of liability coverage. This would make rental property insurance about $2,318 per year.
As is the case with any insurance product, the best way to find the cheapest rental property insurance is to shop around. Compare homeowners insurance quotes from multiple insurers before making your decision.
Spring Cleaning Recommendations for Landlords
By: CTPOASpring is the perfect time for landlords to spruce up their rental properties and give them a fresh start for the season ahead. While indoor cleaning is essential, outdoor cleaning is equally important as it creates the first impression for prospective tenants. In this article, we will discuss some recommended outdoor spring cleaning tasks for landlords.
1. Pressure wash the exterior: Over time, the exterior of your rental properties can become dirty, covered with grime and mildew. Pressure washing is a great way to remove dirt and grime from the exterior of your property, including walls, sidewalks, and driveways. This will help to give your properties a fresh and clean appearance, which can attract potential tenants.
2. Clean gutters and downspouts: During the winter, gutters can become clogged with debris such as leaves, twigs, and dirt. This can
cause water to overflow and damage the roof or siding of your property. Cleaning the gutters and downspouts will help to prevent this damage and ensure that water is properly diverted away from the property.
3. Trim trees and bushes: Overgrown trees and bushes can detract from the beauty of your rental property and create safety hazards. By trimming the trees and bushes, you can create a more polished and inviting appearance. This will also help to remove any dead branches that could fall and damage your property or injure tenants.
4. Repair and paint exterior: Harsh winter weather can take a toll on the exterior of your rental properties. Take the time to inspect for any damage such as cracks or peeling paint, and make repairs as necessary. Repainting the exterior will help to create a fresh and updated look that can make your property stand out
from the rest.
5. Clean and repair outdoor fixtures: Outdoor fixtures such as light fixtures, mailboxes, and fences are exposed to the elements and can become damaged over time. Clean and repair these fixtures to ensure that they are in good condition and functioning properly. This will help to create a polished and welcoming appearance that tenants will appreciate.
Bonus: Here are some indoor spring cleaning recommendations:
1. Check smoke and carbon monoxide detectors: Smoke and carbon monoxide detectors are critical safety features in rental properties, and they should be tested regularly to ensure they are working properly. Spring is a good time to test and replace batteries in these detectors to keep your tenants safe.
2. Replace air filters: HVAC systems work hard to keep your properties comfortable, and they need regular maintenance to continue functioning properly. Spring is a good time to replace air filters in your rental properties to improve air quality and prevent breakdowns. Clean air filters also help reduce energy consumption and save you money on utility bills.
3. Schedule professional carpet cleaning: Over time, carpets can accumulate dirt, dust,
and stains that can be difficult to remove with regular vacuuming. Spring is a great time to schedule a professional carpet cleaning for your rental properties to freshen them up and remove any allergens that may have built up over the winter. This can also help extend the life of your carpets and improve indoor air quality.
In conclusion, spring is an excellent time for landlords to focus on indoor and outdoor spring cleaning tasks to maintain and enhance the beauty of their rental properties. By pressure washing the exterior, cleaning gutters and downspouts, trimming trees and bushes, repairing and painting the exterior, and cleaning and repairing outdoor fixtures, landlords can create a more inviting and wellmaintained environment for their tenants. This can help to attract new tenants paying at a higher rate and/or retain existing ones, ultimately leading to a more successful rental business.
CT Electric Rates Set to Jump As Regulators Signal Approval for Bill Adjustments
By: Patrick Skahill, with ctmirror.orgSome charges on electric bills are set to increase this summer.
Connecticut regulators Wednesday approved an electric rate adjustment for utilities Eversource and United Illuminating.
United Illuminating said the average customer will see a monthly bill increase of roughly $30.
A statement from Eversource did not indicate the amount of a bill increase, but the company said it understands how difficult the increase will be for customers.
Utilities say the latest round of rate adjustments are pass-through costs they do not control, which are needed to help recoup expenses for policies enacted by lawmakers.
But rate hike requests have generated pushback from advocates and Connecticut elected officials, who say the state’s electric rates are not sustainable and that bills are already too high.
On Wednesday, the state’s three-member Public Utilities Regulatory Authority voted 2-1 in favor of the rate adjustments with Chairman Marissa Gillett voting against the increase. The adjustments will be finalized in coming weeks and last for 10 months starting on July 1. But Gillett said that the bill increase should have been spread out over a longer time period to lessen the impact on customers in a state with some of the highest electric costs in the nation.
in a dissent over the rate adjustments. “This would provide timely recovery for the utilities and reduce the rate shock for ratepayers.”
“Instead, customers will bear the brunt of this extraordinary volatility and anomalous conditions over the course of an unreasonably short period of time given the magnitude of costs at stake,” she wrote.
“This decision could have struck a fair balance by allowing the recovery of this substantial liability over a period of 2-3 years, rather than just 10 months,” Gillett wrote
Make Your Home More Energy Efficient
Article From: portal.ct.gov
Start saving more money by improving the energy efficiency of your home and/or business. You will use less energy to achieve the same output. Doing so will help you cut your bills and also reduce pollution.
Cost Reducing Solutions by
EnergizeCTAn initiative known as EnergizeCT offers different ways to help lower your energy costs. Their solutions include:
• rebates
• clean energy improvements
• financing
• energy efficiency services
• bill assistance programs
• electric rate comparisons
By providing advice, information and financial
incentives, EnergizeCT empowers Connecticut to make smarter energy choices.
For Your Home
EnergizeCT’s offerings for residential homes include:
• energy assessments
• energy savings plans
• new construction programs
• home energy solutions
• solar investment programs
• recommendations for Energy Star retail products.
If financing new initiatives is a concern, EnergizeCT also offers various loan options.
For Your Business
Your business is yet another area that uses a lot of energy. EnergizeCT can offer smart energy efficient recommendations by first assessing your facility. Based on your usage, they create:
• energy management strategies
customized energy savings plans
EnergizeCT provides building solutions for:
• small businesses
• commercial buildings
• education
• industrial centers
• multifamily facilties
• towns and municipalities
Commercial financing options are available for business owners.
Make Smarter Energy Moves
Smarter choices can go a long way towards helping Connecticut residents save money on high energy costs and enjoy more of their lives. By providing better knowledge, strategies, guidance and solutions.
EnergizeCT hopes to make a real difference for everyone in the state.
How to Get Started
Consider an energy audit for your home or business. You will understand your current energy usage and where things can be improved.
EnergizeCT will come to your home or work to make these assessments and recommend brand new cost-saving solutions to help you streamline your energy usage.
Visit EnergizeCT to learn more.
Weatherization Assistance Program
The Weatherization Assistance Program is funded by the US Department of Energy, and assists low-income persons to minimize energy-related costs and fuel usage in their homes through retrofits and home improvement measures. In Connecticut, the program is administered by the Department of Energy & Environmental Protection (DEEP) in partnership with the Connecticut Community Action Agency network. Local Community Action Agencies qualify households and coordinate services.
For more information, visit: Weatherization in Connecticut
8 Important Legal Tips for Landlords and Property Owners
By: Liran Koren, with luxurypropertycare.comLawsuits are everywhere and they can happen to anyone including you.
Rental properties are a lucrative investment but they come with the risk of litigation. Aside from making sure that your property is “rent-ready”, you should also make sure that you’re prepared to defend yourself in case you’re facing legal action.
Below, let’s take a look at eight things you can do to prevent nasty lawsuits:
#1 Keep Records of Everything
And by everything, we mean everything As a property owner, you should keep records of rent receipts, work orders, eviction notices, and more. Proper documentation can protect you when you’re faced with legal issues. To avoid pointing fingers, you should hold on to pertinent documents that may be considered as evidence.
This includes all landlord-tenant communication including emails, text messages, call logs, and the like. Whenever you’re discussing important matters with your tenant (e.g. late rental payment fees, eviction, etc.), it’s best to stick to written modes of communication.
#2 Understand Data Privacy Laws
Although the US doesn’t have federal-level data privacy laws unlike the UK’s General Data Protection Regulation (GDPR), the US does have state-level statutes such as the Californian Consumer Privacy Act (CCPA) and the Hawaii Consumer Privacy Protection Act (SB 418). These laws provide consumers with greater control over their personal data, such as their names, addresses, phone numbers, and more.
The state of Florida does not yet have laws governing data privacy, but there have been
talks about introducing a law that is similar to the CCPA.
Data privacy laws apply to all landlords and property managers that collect personal information from their tenants. This includes the information found in the rental application.
#3 Require Renters Insurance
A property owner’s typical landlord insurance won’t cover the costs of replacing the tenant’s belongings in the event that they get destroyed or stolen. It also won’t cover the tenant’s medical expenses should they get injured on the property.
To protect yourself from lawsuits, consider requiring your renters to obtain renters insurance. Not only does it protect your tenant’s personal property, but it also guards you in the event that your tenant decides to sue.
Keep in mind that including this clause in the rental agreement may be prohibited in certain states. Be sure to check with your property manager to ensure that your requirements are within the law.
#4 Don’t Enter the Unit Without Notice
You may own the rental property, but the moment that it is rented out, you lose the ability to walk inside the home whenever you want. Tenants have the right to utilize their rented space without the interference of their
landlord. This is called the right to the “quiet enjoyment” of their home. As a general rule, you may enter the property only when the tenant has given you permission.
There are, however, exceptions to the rule. You may enter the rental unit without notifying your tenant when:
• There is an emergency (e.g. gas leak, fire, flood)
• The is reasonable cause to believe that the tenant has abandoned the property
• The tenant has been absent from the property for an “extended absence”
#5 Require a Security Deposit
A security deposit is a fee that a tenant has to pay on top of the first month’s rent. It is a refundable amount that the tenant can get back when they move out. Its purpose is to protect you, the landlord, in the event that the tenant damages the property or fails to satisfy their financial obligations (e.g. rent payments and utilities).
The law does not require landlords to collect a security deposit from their tenants, however, it would be in your best interest to do so. If you decide to require a security deposit, keep in mind that some states have set a cap on the maximum amount that you can collect.
#6 Keep Your Security Deposit in a Separate Account
Landlord-tenant laws vary by state when it comes to where the security deposit should be stored. Generally, you shouldn’t store your tenant’s security deposit in your personal bank account since it yields interest.
In Florida, you should keep your tenant’s security deposit as a surety bond, in a dedicated bank account, or a non-interest-yielding bank account. It’s worth mentioning that security deposits stored in an interest-yielding bank account must be returned to the tenant along with the accrued interest.
#7 Follow the Fair Housing Act
As a landlord, you should know the Fair Housing Act (FHA) by heart. The FHA protects “protected classes” by prohibiting discriminatory acts in housing, such as:
• Refusing to rent the property due to race, religion, national origin, etc.
• Having preferences regarding the type of tenant/ s (e.g. “whites only” and “families only”)
• Failing to provide the same services, amenities,
etc. to tenants of protected classes
If a prospective tenant sues you for discrimination and if the Department of Housing and Urban Development (HUD) investigates the claim, you may want to consult an attorney. The penalty for first-time offenders can be as high as $16,000 excluding attorney’s fees, damages, etc.
#8 File Your Taxes Accurately
Filing your taxes is a skill you need to master if you’re planning on becoming a landlord. If you intentionally submit a false report of your annual income or claim unfounded tax deductions, you may soon be getting a visit from the Internal Revenue Service (IRS).
However, if you made an innocent mistake, you should file an amended tax return as soon as possible. You shouldn’t let the period for filing lapse.
Remember, if you purposely attempted to evade your taxes, you may face a maximum fine of $100,000. It’s best to hire a property management company that has its own team of attorneys and accountants to ensure that you don’t violate the law.
When disaster strikes your property, call Ranciato Public Adjusters Group, LLC, as soon as possible. We will be your fierce advocate and do what it takes to maximize your settlement.
Whatever you do, don’t take the word of your insurance company’s assigned claims adjuster. After all, it’s in their best interest to downplay damage to your property and underpay you, since it’s their job to save the insurance company money. There’s a better way to get the insurance settlement you deserve.
Instead, leverage the expertise of our public insurance claims adjusters. We work for you. Whether you’re in Connecticut, Vermont, or Florida, we’ll fight on your behalf and do everything we can to help you get your life back on track.
Contact us today to receive a free review of your claim. The sooner you engage our public adjusters after a loss, the more beneficial your settlement will be.
Phone: (888) 298-9014
Website: Click here!
