CT Real Estate Today - March 2024 Edition

Table of Contents

Publisher’s Message

A Message From Bob DeCosmo, President Of CTPOA

News And Views From The Capitol

The 2024 Political Craze on Housing is UnderwayStay Tuned!

Realtor Report

Real Estate Lawsuit Settlement Upends Decades

Long Policies That Helped Set Agent Commissions

Insurance Insights

How High Could Home Insurance Rates Jump This Year? Here’s What Experts Predict

Property Management Tips & Tricks

Spring Forward: A Comprehensive Guide to Spring Maintenance for Landlords (Even with Milder Winters)

By Bob DeCosmo Advocate For Property Owner Rights

Is It a Housing Agenda or a Political Agenda?

The past few years CT landlord / tenant law has taken a decided shift towards favoring tenants. Question is, is this shift part of a housing agenda, or a political agenda. The other question is do these laws help good tenants or hurt them?

The answer really doesn’t require much research, housing providers are facing a political agenda being pushed by the Democratic Socialists of America (DSA) and they have achieved about ½ of their goals already. The proposals being advanced protect the non-compliant and unruly renters, making good tenants suffer by living in properties where the non-cooperative tenants are being protected as they disrupt the lives of the other residents.

The goal of the DSA is supposedly to end private ownership of rental property by 2030. They want to have the housing for low income and working families supplied by non-profit entities and the government. Their motto is “Housing for the people and not for profit.”

Their agenda included free lawyers for tenants facing eviction, CT passed this in 2021. Concealing criminal records, CT passed this law in 2021 with the Clean Slate legislation. Fair Rent Commissions is an offshoot of their Rent Control aspirations and was passed in 2022 and they pursued Rent Control legislation in 2023 as well as concealing Eviction Records.

This year the Socialists are pursuing their “Just Cause Eviction” legislation with Senate Bill #143. The proposal brought about a large response from tenant advocates saying a lease should never end if the tenant pays their rent. The Bill also brought an even larger response from housing providers to say that nobody evicts without a reason and Lapse of Time evictions are essential in helping good tenants live in stable housing. Often, unruly renters are difficult to remove, and Lapse of Time is the tool to deal with these problem residents, especially if they are receiving a 100% rental subsidy from a program paying their rent.

Senate Bill 143 doesn’t just stop at Lapse of Time evictions, it also eliminate “No Right or Privilege to Occupy” which will make it impossible to remove a squatter that entered a property illegally.

Thomas Peterffy came to America from a Socialist country and became one of Connecticut’s wealthiest residents. He left CT due to the ever-increasing taxes applied to successful individuals in our State. He filmed a video 12 years ago, called Freedom To Succeed, watch it here where he talks about growing up in Socialist Hungry and says it’s a slippery slope we are on today. “Yes, under Socialism the rich will be poorer but so will the poor.”

People who don’t learn from the mistakes from the past are condemned to repeat these mistakes. Peterffy went on to say that America’s wealth is built on people striving to succeed. Take away this desire and bad-mouth success and we’ll all suffer as people lose interest in really working hard.

I hope our CT legislators will stand up to the efforts from the Socialists and see what a disaster it will create if they continue to advance their extreme political agenda on the residents in Connecticut.

The 2024 Political Craze on Housing is Underway - Stay Tuned!

By: CTPOA

Connecticut landlords face another wave of tenant-protection bills in the 2024 legislative session. We want to sincerely thank everyone who joined our Zoom meetings, submitted written testimony opposing these bills and even testified in-person or remotely. We could not have made the impact we did without your support.

Here's a breakdown of the key challenges:

Eviction Restrictions:

Senate Bill 143: Just Cause Evictions

1. SB143 will rewrite the statute on evictions. The result is the Bill effectively eliminates any ability to get rid of someone that has entered an apartment illegally such as a squatter..

2. It removes 2 other grounds for reasons to bring an eviction, not just Lapse of Time. These two causes for evictions deal with squatters and bank foreclosures.

a. “No right or privilege to occupy.”

b. “No right or privilege to occupy but once having one.

3. When a renter is receiving a 100% rental subsidy, they would have a perpetual lease even if they are troublesome renters.

a. Since the Police Accountability Act passed, police do not typically get involved in issues between tenants and say it’s a civil matter, not criminal.

b. Without arrests, it is nearly impossible to bring a nuisance eviction and win as the burden of proof is on the landlord.

c. In nuisance evictions good tenants will not go to court to testify against another tenant out of fear of physical retaliation against them. Again, good tenants get harmed.

4. When a Bank forecloses on a multi-family property, they will not be able to empty buildings as they do not want the liability of owning and operating rental property.

a. SB 143 could impact the availability of funding for future multi-family purchases. Banks use No Right or Privilege to Occupy, but Once Having One to evict the occupants in the foreclosed property, which SB 143 removes.

b. IfaBankwon'tbeabletoremove occupants in foreclosed property, it increases the Bank’s risk of being in the multi-family lending space. They could pull back on lending to multi’s, thus drying up fresh capital. This would potentially create another crash in property values. This occurred in 1987 and 2006 when banks restricted their funding.

5. Lapse of Time evictions are not immediate removal from the premises. Tenants can have up to 6 months to locate another unit and it also takes about 2 to 3 months to get into court with the mediator.

6. The Bill also seems to eliminate “Serious Nuisance” as a cause for evictions.

7. We need a shorter eviction process in CT. If you talk to operators of homeless shelters or case workers that manage tenants on supportive programs, most agree.

a. Landlords would be willing to take a chance and place their clients into apartments easier.

8. If 143 passes, owners will tighten up their leasing criteria and it will make finding an apartment more difficult in Connecticut for all tenants seeking a new place to live.

Criminal Protections

HB 5242, Consequences of Criminal Records

1. This Bill puts good tenants in jeopardy and risks their health, safety, and welfare.

a. Would allow pedophiles to move into units with single moms and young children.

b. Permit those that have committed acts of physical violence against others on multiple occasions to pass screening.

c. Arsonists, murderers, and those with numerous convictions for disorderly conduct and breach of peace could not be denied.

d. Tenants expect us to be able to protect them and 5242 will put good tenants in harm’s way.

2. I believe individuals with serious criminal records need housing opportunities and we must create more transitional housing and supportive housing to help this population.

3. Private landlords are not equipped in most cases to deal with some of the justice impacted individuals with multiple convictions.

4. It will likely force local mom and pops, that are not prepared to deal with unruly renters, to sell to potentially out of state landlords.

Landlord Registration & Fines:

Senate Bill 209, requiring non-resident landlord registration.

We are not defending irresponsibility for failure to maintain a property, but this Bill is NOT NEEDED BECAUSE IT FAILS TO SOLVE THE REAL PROBLEM, WHICH IS, CONNECTICUT LACKS JURISDICTION TO PROSECUTE OUT-OF-STATE HOUSING PROVIDERS IN OUR COURT SYSTEM.

Not to pick on New York housing providers but if they fail to respond to a certified letter from the Fire Marshall, we can only issue an arrest warrant but cannot serve it across the border. The only way for that arrest warrant to become effective is if that individual was pulled over in Connecticut in a traffic stop….THIS NEEDS TO BE FIXED.

Most housing providers are law abiding citizens and Connecticut owners are responsive to code compliance but the bad actors who fail to perform usually live out of State and are immune from prosecution.

To fix this issue, we should be able to work with our Attorney General in Connecticut and get some Compact or agreement to prosecute the out-of-

State repeat offenders for code violations. Until this issue is fixed, all we are doing with legislation like SB # 209 is pushing more local owners out of business in favor of out-of-State owners who we can’t prosecute!

The are two other flaws with this Bill;

1. First it has a heavy hand by levying a hefty fine for a “First Time” offender and a trip to housing court to face the prosecutor is all that is needed

2. It states in Section 2-a (2) except where the premises are intentionally rendered unfit or uninhabitable by the tenant, the words and, or recklessly need to be added as intent is often difficult to prove as we discovered when trying to utilize PA 96-74 (tenant damage to a landlord’s property).

Overall, Connecticut landlords continue to grapple with potential limitations on their ability to manage their properties and these proposals hurt good tenants and landlords While some proposals have been defeated or tabled, others including the ones mentioned above are still alive and could significantly impact how landlords operate in Connecticut.

Real Estate Lawsuit Settlement Upends Decades Long Policies That Helped Set Agent Commissions

By: Alex Veiga, with apnews.com

A powerful real estate trade group has agreed to do away with policies that for decades helped set agent commissions, moving to resolve lawsuits that claim the rules have forced people to pay artificially inflated costs to sell their homes.

Under the terms of the agreement announced Friday, the National Association of Realtors also agreed to pay $418 million to help compensate home sellers across the U.S. Home sellers behind multiple lawsuits against the NAR and several major brokerages argued that the trade group’s rules governing homes listed for sale on its affiliated Multiple Listing Services unfairly propped up agent commissions. The rules also incentivized agents representing buyers to avoid showing their clients listings where the seller’s broker was offering a lower commission to the buyer’s

agent, they argued.

As part of the settlement, the NAR agreed to no longer require a broker advertising a home for sale on MLS to offer any upfront compensation to a buyer’s agent. The rule change leaves it open for individual home sellers to negotiate such offers with a buyer’s agent outside of the MLS platforms, though the home seller’s broker has to disclose any such compensation arrangements.

The trade group also agreed to require agents or others working with a homebuyer to enter into a written agreement with them. That is meant to ensure homebuyers know going in what their agent will charge them for their services.

The rule changes, which are set to go into effect in mid-July, represent a major change to the way real estate agents have operated going

back to the 1990s, and could lead to homebuyers and sellers negotiating lower agent commissions.

Currently, agents working with a buyer and seller typically split a commission of around 5% to 6% that’s paid by the seller. This practice essentially became customary as home listings included built-in offers of “cooperative compensation” between agents on both sides of the transaction.

But the rule changes the NAR agreed to as part of the settlement could give home sellers and buyers more impetus to negotiate lower agent commissions.

“It may take some time for the changes to impact the marketplace, but our hope and expectation is that this will put a downward pressure on the cost of hiring a real estate broker,” said Robby Braun, an attorney in a federal lawsuit brought in 2019 in Chicago on behalf of millions of home sellers.

Analysts with Keefe, Bruyette & Woods also anticipate that the NAR rule changes will lead to lower agent commissions and could persuade some homebuyers to skip using an agent altogether.

“In our view, the combination of mandated buyer representation agreements and the prohibition of blanket compensation offers made by listing agents and sellers should result in significant price competition for

buyer agent commissions,” the analysts wrote in a research note Friday.

While setting the stage for homebuyers to negotiate a more competitive price for their agent’s services, the rule changes mean home shoppers will have to factor in how to cover their agent’s compensation.

Homebuyers could still ask a prospective home seller for a concession that includes money to help cover the buyer’s agent compensation. However, a home seller with multiple offers, for example, could refuse such a request, or opt to go with a bid from a different buyer who isn’t asking for such a concession.

“The real solution is for the industry to work to remove regulatory barriers that make it difficult for buyers to include this compensation in their mortgages,” said Stephen Brobeck, senior fellow at the Consumer Federation of America.

The NAR faced multiple lawsuits over the way agent commissions are set. In late October, a federal jury in Missouri found that the NAR and several large real estate brokerages conspired to require that home sellers pay homebuyers’ agent commissions in violation of federal antitrust law.

The jury ordered the defendants to pay almost $1.8 billion in damages — and potentially more than $5 billion if the court ended up awarding the plaintiffs treble damages.

The settlement, if approved by the court, resolves that and similar suits faced by the NAR. It covers over one million of the NAR’s members, its affiliated Multiple Listing Services and all brokerages with a NAR member as a principal that had a residential transaction volume in 2022 of $2 billion or less.

“Ultimately, continuing to litigate would have hurt members and their small businesses,” Nykia Wright, NAR’s interim CEO, said in a statement. “While there could be no perfect outcome, this agreement is the best outcome we could achieve in the circumstances.”

The settlement does not include real estate agents affiliated with HomeServices of America and its related companies.

Last month, Keller Williams Realty, one of the nation’s largest real estate brokerages, agreed

to pay $70 million and change some of of its agent guidelines to settle agent commission lawsuits.

Two other large real estate brokerages agreed to similar settlement terms last year. In their respective pacts, Anywhere Real Estate Inc. agreed to pay $83.5 million, while Re/Max agreed to pay $55 million.

How High Could Home Insurance Rates Jump This Year? Here’s What Experts Predict

By: Pete Grieve, with money.com

When your homeowners insurance policy comes up for renewal in 2024, be prepared for an unpleasant shock: You’re likely to face a premium increase of 10% to 15%, and the price jump could be much higher if you live in an area where there's risk of wildfires or severe storms. That's assuming you can find home insurance coverage at all.

Home insurance costs have soared recently, and policy renewal data shows that premiums have been increasing by more than 20% yearover-year, according to separate reports from insurance firm Matic and insurance marketplace Policygenius released in late 2023.

According to Matic, the national average annual cost of home insurance climbed to about $1,700 in 2023, up from $1,175 in 2019.

Rising prices have added stress on household budgets, and the number of people skipping home insurance coverage altogether has also soared.

While the rate of inflation in home insurance prices is expected to slow down this year, Stuart Winchester, founder and CEO of Marble, says he’s counseling customers to still expect 10% to 15% hikes. That would translate to premium increases of $100 to $250 for the year or hundreds more for customers in areas where home values or insurance rates are higher.

Citing a “rise in catastrophic events nationwide,” Matic predicts that insurance companies will continue to significantly increase premiums because they need to pass along their higher costs to policyholders. However, “as inflation slows down in 2024, it’s not likely

that premiums will rise at the record-high rates seen in 2023.” Notably, construction costs soared during the pandemic, but should be more stable going forward as inflation cools.

Why is home insurance so expensive?

The high number claims in the the last few years, which far exceeded what actuaries predicted, is the primary reason why home insurance is getting so expensive, says Matt Simon, president of CoverLink Insurance and an agent at Trusted Choice. Last year, 28 individual weather and climate events resulted in at least $1 billion of damages, up from a previous high of 22 in 2020, according to government data.

Beyond disaster risk, Loretta Worters, spokesperson at the Insurance Information Institute, says, "Much of the increase can be attributed to supply-chain issues and labor shortages driving up the cost of home repairs and replacement." She also points to several other issues that insurers are facing, including fraud, excessive claims and legal system abuse.

Amid these trends, insurers will likely push to implement higher rates in 2024. Still, several factors suggest that premiums won’t increase quite as much in 2024 as they did last year.

Inflation has eased in many areas of the economy, and as prices for home repairs and the costs of replacing home products stabilize, insurance companies shouldn't need to

increase premiums at such a fast pace. Also, after getting many rate hikes enacted in the past two years, insurance companies have, at least to an extent, already corrected for their pricing issues.

But insurance prices typically increase with inflation on a lagged timeline. Insurers must go through state regulators before they can increase premiums, and those processes take months. Even once a rate increase is approved, it can take as long as a year for the new rate to kick in because policy renewal happens every 12 months.

Depending on your home insurance company and where you live, you may have already been hit with a major premium hike, or one could be coming at some point this year.

“There's a delay between inflationary impacts and pricing for homeowners insurance because of the regulatory environment,” says Matthew Carrier, principal at Deloitte Consulting. “I think the cooling off of inflation will dampen the amount of rate increases coming through homeowners, but it's going to be delayed.”

Home insurance availability is more limited

Not only are home insurance policies much more expensive now than they were a few years ago, they’re also getting harder for customers to find.

In California, where wildfire concerns have snowballed since 2017, some insurers

discontinued their home insurance businesses last year or limited underwriting.

“There’s a very large portion of the insurers in the market that are not writing new business," says Tom Larsen, associate vice president of hazard and risk management at CoreLogic.

Some of the companies that stopped writing new policies are now getting huge rate increases. For example, after halting new business in 2023, California's largest insurer, State Farm, recently obtained approval for a 20% premium increase for renewals that will be effective in March.

Allstate, which also has a pause on new homeowners policies, requested a 39.6% rate increase, which the California Department of Insurance says is still under review.

In Florida, where the main risk is hurricanes, Larsen says the insurance market is even less competitive than

California's. Florida home insurance premiums increased by an average of 35% at renewal during the period from May 2022 to May 2023. Companies are still pushing for higher rates in 2024. In one of the most extreme cases, an Allstate subsidiary that insures condos in Florida is pursuing a 53.5% rate hike affecting 105,000 units.

Many homeowners in the state don’t even have access to any of the major insurance companies that operate nationwide, which Larsen says are the most stable and highest-rated companies. The situation got worse in 2023. In July, for example, Farmers stopped offering its own-branded home insurance in Florida, affecting about 100,000 policies.

According to Matic, insurance options have also become more limited for new customers in states including Georgia, South Carolina, New Jersey, New York and Arizona. This might mean that someone

who had six home insurance options in 2022 might only have two or three choices now, Winchester says.

Later in 2024, experts say insurance will become more available nationwide as rate increases kick in, but availability likely won’t return to normal levels last seen in 2020.

The lack of options is frustrating for homeowners. If you're facing a premium increase, the advice is always to compare quotes from as many companies as you can to see if you can save with a competitor. But in disaster-prone states, the options may be very limited (and expensive) right now.

question, in addition to trends in home repair costs, could determine how much premiums rise in 2024 and beyond.

How to pay less for home insurance

While there’s no question that an increase in serious weather events has coincided with rising inflation, consumer advocates dispute the necessity of the large rate increases that are being approved, arguing that insurance companies are being opportunistic.

Now that regulators are granting higher rates recognizing the need to make sure insurance remains available Winchester says insurance companies, which have taken major losses in the past few years, are surely thinking, “How high can we push this?” The answer to that

Experts recommend getting at least three price quotes when you shop for home insurance, and it's smart to compare options on an annual basis.

Hardening your home to better withstand extreme weather events can also result in savings, especially in disaster-prone areas. (There are sometimes discounts for installing storm-protected windows, for example.)

Other ways to save on home insurance include opting for a higher deductible, bundling your policy with auto insurance and improving your credit score

Spring Forward: A Comprehensive Guide to Spring Maintenance for Landlords (Even with Milder Winters)

By: CTPOA

Connecticut's winters may not be as brutal as they once were, but even a mild season can take a toll on your rental properties. Spring remains a crucial time for landlords to address the wear and tear accumulated during the colder months, ensuring your units are in top shape for the coming season. Here, we'll provide a comprehensive guide to spring maintenance for landlords in Connecticut, covering everything from inspections and repairs to tenant communication and preventative measures.

Why Spring Maintenance Matters, Even with Milder Winters

While the days of heavy snow and sub-zero temperatures might be less frequent, Connecticut still experiences freeze-thaw cycles, fluctuating temperatures, and occasional rain that can compromise your

properties. Here's why spring maintenance remains essential:

• Freeze-Thaw Cycles: These cycles can cause cracks in foundations, walkways, and driveways. Early detection and repair can prevent more extensive damage later.

• Fluctuating Temperatures: Temperature changes can stress building materials, leading to leaks, warping, and other issues. Addressing these issues early keeps your properties structurally sound.

• Moisture Issues: Rainfall, even in milder winters, can contribute to moisture build-up inside and outside your rentals. This can lead to mold growth, pest infestations, and wood rot. Spring maintenance allows you to identify and address these problems.

• Preventative Measures: Spring serves as a perfect opportunity to check systems and appliances before the summer heat or fall rains put a strain on them. Proactive maintenance saves you money on costly repairs later in the year.

Spring Maintenance Checklist for Connecticut Landlords

This comprehensive checklist covers key areas to focus on during your spring maintenance routine in Connecticut:

Exterior Maintenance:

• Roof and Gutters: Schedule a professional inspection to assess the roof for damage, even if the winter wasn't harsh. Ensure gutters are clear of debris and functioning properly to direct water away from the foundation.

• Siding and Exterior Walls: Inspect the siding for cracks, loose panels, or signs of moisture damage. Address any issues promptly to prevent water infiltration and potential mold growth.

• WindowsandDoors: Check for drafts, loose caulking, or damaged screens. Ensure windows and doors open and close smoothly and seal properly to prevent energy leaks.

• Driveways, Walkways, and Patios: Patch any cracks or uneven surfaces that could create tripping hazards. Check for

drainage issues and ensure proper water flow away from the foundation.

• Landscaping: Trim overgrown trees and shrubs to prevent them from blocking windows or damaging the property. Remove leaves, debris, and fallen branches to beautify the property and discourage pests.

Exterior Lighting: Replace burnt-out bulbs and ensure all exterior lights are functioning properly for safety and security.

Interior Maintenance:

• Smoke and Carbon Monoxide

Detectors: Replace batteries in all smoke and carbon monoxide detectors and ensure they are functioning properly.

• Plumbing: Check for leaks under sinks, bathtubs, and around toilets. Test faucets and ensure proper drainage. Address any dripping or slow drains to avoid water damage.

• Electrical Systems: Look for loose outlets, switches, or flickering lights. Consider scheduling a professional inspection for any potential electrical hazards.

• HVAC Systems: Change air filters in heating and cooling systems. Schedule professional maintenance to ensure the systems are operating efficiently for the upcoming season, especially if they haven't

been used much during a mild winter.

• Appliances: Test all appliances (refrigerator, stove, oven, dishwasher) and ensure they are functioning properly. Consider scheduling professional cleaning for major appliances.

• Walls and Ceilings: Check for water damage, cracks, or peeling paint. Address any issues promptly to prevent further deterioration.

• Flooring: Clean carpets and inspect them for signs of wear and tear. Repair any damage to hardwood floors or other flooring materials.

Doors and Windows: Check for drafts, loose caulking, and proper sealing. Ensure locks are functioning properly for tenant safety.

Preventative Measures:

• PestControl: Consider preventative pest control measures, especially if you've had issues in the past. This can help prevent infestations and maintain a comfortable living environment for tenants.

• Outdoor Water Spigots: Even with milder winters, it's good practice to disconnect and winterize outdoor hose bibs to prevent bursting

pipes during colder months.

Mold Prevention: Check areas prone to moisture build-up like bathrooms and basements for signs of mold growth. Address any moisture issues to prevent mold from taking root.

Tenant Communication:

• Schedule Spring Maintenance: Inform tenants about necessary maintenance work and schedule appointments at their convenience.

Communicate Expectations: Clearly explain the scope of maintenance

Spring may arrive with milder temperatures in Connecticut, but neglecting spring maintenance can lead to costly repairs down the road. By following this spring maintenance checklist and taking a proactive approach, you can ensure your rental properties are in top shape for the coming season. Remember, well-maintained properties not only attract and retain good tenants but also improve their overall living experience, fostering a positive landlord-tenant relationship. So, embrace the spring sunshine, roll up your sleeves, and get ready to tackle those maintenance tasks!

Empowering Small Property Managers: The Importance of Automated Income Verification

By: Paul Jenney, Compliance Officer at TenantTracks

Navigating the intricate world of property management is no easy feat. From juggling financial stability to ensuring tenant satisfaction, the journey often feels like a daunting maze. However, amidst these challenges, a beacon of innovation emerges: automated income verification systems. These tools signify a paradigm shift towards greater efficiency and effectiveness in property management.

Here's why landlords, especially small property managers, should seriously consider integrating automated income verification into their operations:

1. Preventing Evictions:

Evictions are not just financial burdens

they're emotionally taxing for both landlords and tenants alike. Automated income verification provides deeper insights into applicants' financial histories, reducing the risk of future eviction scenarios. Armed with comprehensive income data, landlords can ensure better matches between tenants and properties, fostering longterm stability and tenant satisfaction.

2. Enhancing Revenue Predictability:

Certifying applicants' ability to pay rent is crucial for maintaining a steady revenue stream. With automated verification processes, landlords eliminate guesswork and expedite the filling of vacancies. Streamlined operations and

reduced delays translate to greater financial predictability and efficiency, ultimately bolstering the bottom line.

3. Maximizing Occupancy Rates:

Gone are the days of drowning in paperwork. Automation streamlines the income verification process, allowing landlords to focus on maximizing occupancy rates. By prioritizing resident satisfaction over administrative tasks, landlords create a positive living experience that attracts and retains tenants, thereby boosting property profitability.

4. Promoting Fairness:

Transparency and fairness are cornerstones of every rental agreement.

By relying on accurate, bank-verified income data, landlords ensure that tenant selections are rooted in integrity. Property owners can trust that decisions are made fairly, fostering trust and satisfaction among all parties involved.

5. Adding an Extra Layer of Security:

While we're familiar with resident screening processes like eviction and

criminal records checks (please don't forget CORI is MA only, you need a nationwide criminal screening), automated income verification adds an additional layer of security. It helps detect forged pay stubs and bank records, ensuring that landlords rent to trustworthy tenants.

In conclusion, automated income verification is not merely a luxury—it's a necessity for small property managers.

By embracing this technology, landlords can overcome challenges with ease, ensuring success for themselves and their residents. Let's seize this opportunity to revolutionize property management and pave the way for a brighter future.

Automated income verification is now available on the TenantTracks platform in addition to its best in-class comprehensive nationwide background checks.

10 Energy Saving Tips for Spring

By: Caitlin Ritchie, with saveonenergy.com

As spring rolls in, it is time to perform seasonal maintenance around your home. Throughout the winter, snow, ice, and strong winds could have impacted your home’s energy efficiency.

Having an energy-efficient home ensures you consume less electricity and in return, helps you lower your power bills. Use this checklist to help you prepare for the warm months ahead and save energy this spring.

1. Understand your home’s energy usage

Understanding where you are using the most electricity in your home can make it easier to know how you can reduce your energy consumption. The SaveOnEnergy usage calculator makes it simple to estimate how much electricity you use every month and shows the appliances and devices that consume the most energy in your home.

2. Clean your air conditioning unit and get it

inspected

The average home spends about 12% of its total energy usage on air conditioning. Clutter and debris can affect your air conditioning unit’s efficiency, meaning it has to work harder to keep your home cool. Clear away leaves from inside or around the unit and dust, vacuum, or spray the condenser fins to remove remaining dirt and debris. You should also replace the air filter inside your house and schedule a yearly HVAC inspection with a licensed professional.

3. Examine your roof and siding

Cracking ice, downed tree limbs, and the weight of heavy snow could have dislodged shingles or siding on your home. This can create small gaps that let outside air, bugs, and small creatures inside and temperature-controlled air escape. You can often fix minor issues yourself, but should contact a professional for major repairs.

4. Caulk around windows and doors to seal any cracks

Similar to your roof and siding, harsh winter weather could have damaged the seals around your doors and windows. These gaps can let cool air sneak outside, impacting your home’s overall energy efficiency. Check to make sure you don’t see or feel any cracks. If you do, use a caulking gun to fill them.

5. Open the windows on warmer days

The spring months often bring varying temperatures. Some days might be warm while others are below freezing. You can turn off the heat and open the doors and windows when the temperature warms up. Not only will this help you lower your heating costs, it also allows your home to air out any built-up pollutants or humidity.

6. Switch the direction of your ceiling fan

In the winter, your ceiling fans should rotate clockwise on low speed to distribute the rising warm air around the room. In the spring and summer, the fan should turn counterclockwise to force air down into the room to help keep you cool.

7. Clean off the refrigerator coils

Warmer weather means more dust, pollen, and pet hair will collect on the coils of your refrigerator and make the refrigerator work less efficiently. A long-handled brush is perfect for dusting and cleaning coils on the bottom or back of the refrigerator.

8. Change the settings for lights that are on a timer

You may have set indoor or outdoor lights on a timer so they are lit when you get home in the evenings. Now that the afternoons are getting longer, you may want to reset your lights for later or turn the timer off altogether. Only using your lights when you need them will bring down your total energy usage.

9. Clean the grill

Cooking outdoors is a great way to keep your kitchen cool, so pull out your grill from the garage and give it a good clean. If it’s a gas grill, make sure you have a full tank and check the lines for any holes or cracks.

10. Lower your water heater temperature

As the warm weather returns, it could be time to lower your water heater temperature. According to the Department of Energy, your hot water heater could cost you more than $400 annually. Turning down the temperature by 20 degrees could bring that cost down and will not have a big impact on how hot your water feels. What’s more, it will also mean your water heater won’t need to work as long and will use less electricity.

Strong Showing at Serenity Woods PAC Fundraiser Defending Property Rights

By: CTPOA

Hartford - Waterbury, CT – 3/12/24 –

The Property Owners Defense League Political Action Committee (PODL) held a highly successful initial fundraiser on March 7th at Serenity Woods in New Hartford. The event drew support from many real estate professionals from across the state of Connecticut.

A diverse range of speakers addressed the crowd, including Attorneys that handle landlord / tenant cases, representatives from The CT Coalition of Property Owners, the CT Property Owners Alliance, and the CT Apartment Association, as well as

prominent local elected officials and legislative affairs representatives. All speakers emphasized the importance of protecting property owners' rights and creating the best housing environment ensuring a fair situation for both residents and owners.

Bob DeCosmo, Treasurer and Chair for the PAC said, “It’s time for all housing providers to come together and help restrain the hostility from our elected officials in Hartford towards private property ownership in Connecticut. Good tenants and good landlords are suffering at the hands of too many politicians that have an

extreme political agenda.

Landlords and tenants need each other and respect each other in most housing relationships, but the legislation that has been flowing out of Hartford has been driving a wedge between both parties by demonizing housing providers. The PAC will be watching which pieces of legislation make it through the legislative process and support those politicians who support property owners' rights. As for those pushing the "anti-landlord" agenda, we will remind voters in November of their positions."

abilities of Connecticut's housing providers to protect their tenants and ensure a balanced approach to legislation. The event served as a kickoff to raise vital funds for the PAC. Organizers are now planning their next fundraising event for early April and will host more events around the State before the November election.

About PODL PAC

The enthusiastic turnout and insightful discussions underscored the deep concern within the housing provider and real estate communities regarding the extreme political and practical property management challenges they are facing. The funds raised will support candidates that help to defend the rights and

The PODL is a non-partisan political action committee dedicated to supporting candidates that embrace fair and responsible policies that help property owners and promote a healthy real estate market. To learn more, call 800-369-6153 or visit PODL.net.

The Credit Accessibility Movement

By: Leslie Hyman, from linkedin.com

High credit scores are a powerful form of currency in the U.S. economy. But in the context of real estate, the credit reporting that helps improve credit scores is not extended to everyone. Ironically, mortgage payments have been reported to credit bureaus for decades, but rental payments are not reported – even though renters are typically trying to build credit in order to buy a house.

Less than 10% of U.S. renters see on-time payments reflected on their credit scores, meaning most renters aren't improving credit scores through the one area that can make a substantial difference. To the detriment of renters, that's been the status quo for decades. Finally, this is beginning to change.

Credit accessibility gaining momentum

I recently had the pleasure of speaking with Maine Legislators in support of bill LD1107, which aims to improve access to credit for low-income individuals. Passing this bill would open the door to so many opportunities for renters who otherwise

wouldn’t get credit for their on-time rent payments.

Michele Evans, executive vice president and head of multifamily for Fannie Mae , highlighted the importance of passing the bill:

“The absence of credit history reduces a renter's ability to access housing in higher-opportunity neighborhoods, obtain a mortgage and attain lower-cost credit, such as auto loans and education financing. By enabling easier and more expansive adoption of positive rent payment reporting, we can knock down this long standing barrier to building credit and help more consumers establish a strong financial foundation.”

At Circa, we couldn’t agree more with Evans and we’re proud to support the residents of Maine and be a part of the solution. Our comprehensive rent payment platform reports on-time payments to credit bureaus so that residents can start building their credit and plan for their future. We stand in solidarity with the Maine Legislators fighting to pass bill LD1107, as well as each and every resident across the country.

Credit accessibility for renters has come a long way, but there’s still work ahead of us. Let's review a history of credit scores and why this discussion is so important to the movement.

The beginning of a movement

California was the first state to pass a bill into law that requires operators who receive local, state or federal housing subsidies to offer residents the choice of having their monthly rent payments reported to major credit bureaus.

A first-of-its-kind bill, California’s senate bill 1157 makes it possible for low-income residents to build their credit without having to open a new credit card or take out a personal loan. Other states, including Colorado and Washington DC, have passed similar legislation in an effort to help lowincome renters improve their credit scores.

Give credit where credit is due

Almost two years ago, Freddie Mac announced that it would introduce a credit building initiative for renters. The program encourages operators to utilize third-party platforms that facilitate the reporting of on -time payments to the three major credit bureaus. Additionally, companies like Experian have added the ability for consumers to get credit for their ontime rent payments through Experian RentBureau, a separate report that solely includes rental payment history.

Equifax , Experian and TransUnion all include rent payment information when calculating a credit score if it is provided to them. Even though renters can find avenues to report their payment history themselves, bills that support rent payment reporting are vital to making a real change in how low-income renters build credit.

Credit scores have always affected the ability for individuals to get approved for loans or lease an apartment. But with an influx in the number of renters and changes in the behavior of modern consumers, the long-term value of good credit is becoming increasingly apparent. Credit scores are becoming more crucial to an individual's financial growth than ever before.

The value of credit scores

High credit scores are currency – particularly for renters. Nearly every apartment rental application includes a credit check, yet rent payments have historically not been reported to major credit bureaus. But rent is one of the largest areas renters, especially low-income renters, can notably improve their credit scores.

According to the Credit Builders Alliance’s (CBA) Power of Rent Reporting Pilot, nearly 80% of participants experienced an average credit score increase of 23 points. While 23 points may not sound like much, for individuals who have zero to low credit scores, and minimal means to build credit, it’s a real game changer. An optimal score allows for better interest rates for qualified loan borrowers, increased credit limits and can even be the difference between a company hiring someone or not.

High credit scores can transform the trajectory of somebody's life. From having a better chance at homeownership to increasing access to otherwise unattainable loans, renters can finally improve their odds of building financial security. With no shortage of reasons to support legislation that facilitates rental payment reporting to major credit bureaus, Circa will continue to do its part in leveling the playing field for everyone.

TenantTracks Unveils Powerful New Add-Ons!

By: TenantTracks

Calling all property owners! TenantTracks just dropped a game-changer for your rental arsenal. Our brand new add-on suite equips you with the ultimate tools to streamline your leasing process, safeguard your investments, and rent with confidence.

Imagine:

• Effortless income verification: Wave goodbye to rental application guesswork. Verify your applicant's income quickly and easily. PREVENT FRAUD

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• Rent guarantee for ultimate protection: Breathe easy knowing you're covered in case of tenant default on both rent payments and security deposits.

• Boost tenant credit scores: Help responsible tenants build their credit history by reporting their on-time rent payments to the credit bureau.

Ready to unlock these superpowers and become a leasing pro?

Join us in partnering with CTPOA for their monthly webinar on March 27th at 1 PM. Our team will delve deeper into each addon service, answer your questions, and show you how to take your rentals to the next level. Don't miss out on this FREE event! Space is limited, so register today!

What’s Happening Near You?

The Statewide Events and Meetings calendar is a resource for local landlords and property owners to meet up, network and grow your real estate opportunities.

March 2024

Events & Meetings & Networking

Connecticut Real Estate Investors Association

(CTREIA)

Next Meeting: Mar. 18th

Time: 5:45 PM - 9:00 PM

Where: Sheraton Hartford

100 Capital Blvd. Rocky Hill, CT 06107

Contact: (860) 265-4414

About: Monthly Meeting with Ariana Ceneviva. Ariana Ceneviva is an attorney in Meriden at the Ceneviva Law Firm, LLC focusing in the areas of real estate and landlord/tenant law. With a wealth of experience, Ariana offers invaluable insights into tenant/landlord relations, ranging from acquiring and retaining tenants to navigating the complexities of eviction processes.

Register here!

Connecticut Real Estate Investors Association

(CTREIA)

Next Meeting: Mar. 19th

Time: 6:30 PM - 9:00 PM

Where: Marriot

780 Bridgeport Ave Shelton, CT 06484

Contact: (860) 265-4414

About: Monthly Meeting with Tammie Crainich. I am passionate and dedicated to helping you integrate your mortgage into your long and short term financial goals.

I’ll help you manage your cash flow, payment, and equity position. I provide more than pretty rates, comparable fees and excellent customer service.

Register here!

Connecticut Real Estate Professionals

(CTRE PROS)

Next Meeting: Mar. 20th

Time: 6:00 PM

Where: Red Fox

218 Smith Street Middletown, CT 06457

Contact: (860) 538-3672

About: is welcome - all encouraged to attend. attendees will benefit fall under one of the following:

• Real estate investor getting started

• Agent or wholesaler looking for buyers

• Meet new investors, brokers, contractors, important members your network.

Register here!

3672

Connecticut Property Owner Alliance (CTPOA)

Next Meeting: Mar. 21st

Time: ^;00 PM - 8:00 PM

Where: Black Rock Castle

3171 Fairfield Ave

Bridgeport, CT 06605

Contact: (800) 369-6153

About: Join us for networking, dinner and a presentation on:

Improved NOI with higher occupancy, less time chasing late payments, improved arrears management, and fewer evictions.

New ways to collect rent payments & more!

Register here!

Connecticut Property Owner Alliance

(CTPOA)

Next Meeting: Mar. 27th

Time: 1:00 PM - 2:00 PM

Where: Zoom

Contact: (800) 369-6153

About: Calling all property owners! TenantTracks just dropped a game-changer for your rental arsenal. Our brand new add-on suite equips you with the ultimate tools to streamline your leasing process, safeguard your investments, and rent with confidence. Join us for a demo and overview of these powerful services, many of which are FREE to landlords.

Register here!

Connecticut Property Owner Alliance (CTPOA)

Next Meeting: Mar. 27th

Time: 6:00 PM - 8:00 PM

Where: Tiano Smokehouse

1388 E Main Street Meriden, CT 06450

Contact: (800) 369-6153

About: Learn proven strategies for confident selfmanagement, and enjoy dinner & networking. Led by Sam Eddinger, Business Manager at Ironclad Property Management.

• Become a Landlord Pro: Master tenant screening, lease agreements, and rent collection like a seasoned property manager.

• Streamline Operations: Discover time-saving techniques for maintenance, repairs, and communication with tenants & more!

Register here!

Name Contact Service

BestWay Mortgage, Brandon Parenti

Pro Property Management

The Law Office of Yona Gregory

Phone: (203) 441-4059

Website: Click here! Mortgages & Loans (Professional Services)

Phone: (203) 909-6333

Website: Click here! Property Management Services (Professional Services)

Phone: (860) 443-9662

Website: Click here!

The Brodrick Law Firm

Phone: (203) 758-8822

Website: Click here!

Attorney / Evictions (Professional Services)

Attorney / R.E. Closings (Professional Services)

TenantTracks

Phone: (888) 610-4710

Website: Click here!

Tenant Screening (Professional Services)

Tammy Enquist Canfield: Comparion Insurance Agency

ServiceMaster Restore by Recovery Solution

Eversource Energy

The Guarantors

Phone: (203) 695-3893

Website: Click here! Insurance (Professional Services)

Phone: (860) 735-4704

Website: Click here! Restoration (Maintenance & Tradesmen)

Phone: (800) 592-2000

Website: Click here! Energy Efficiency Provider (Suppliers & Wholesalers)

Phone: (720) 706-8902

Website: Click here! Rental Insurance (Professional Services)

Premier Real Estate Investment Group

Cesar L. Sousa, Real Estate Attorney

PosiGen

Pet Screening

Nick Minicucci: New England Residential Finance, LLC

Landlord Collection Agency

Junk Bear

First World Mortgage: Jesus A. Carrero

Phone: (860) 335-0681 Real Estate Multi-Family (Professional Services)

The Miranda Team Home Inspections

Phone: (203) 583-8299

Website: Click here! Attorney / Personal Injury (Professional Services)

Phone: (866) 767-4436

Website: Click here!

Solar Panels/Green Energy (Maintenance & Tradesmen)

Website: Click here! Tenant Screening (Professional Services)

Phone: (203) 509-2717

Website: Click here!

Mortgages & Loans (Professional Services)

Phone: (800) 369-6153

Website: Click here! Collection Agency (Professional Services)

Phone: (860) 378-2801

Website: Click here!

Phone: (203) 715-0961

Website: Click here!

Phone: (203) 490-7855

Website: Click here!

Rubbish & Hauling (Maintenance & Tradesmen)

Mortgages & Loans (Professional Services)

Home Inspections (Professional Services)

Name Contact Service

Marion Szarzynski, HomeBridge Mortgage Loan Originator

Circa Rent Collection

Jeff Zappone, Loan Officer at CrossCountry Mortgage

Dawn Cabral, Broker/ Owner, GRI, SRES at West View Properties LLC

Dana M Guiliano

Phone: (203) 768-5098

Website: Click here!

Mortgages & Loans (Professional Services)

Venoal M. Fountain, Jr., Partner at Hirsch, Levy & Fountain, LLC

Attorney Emanuele A. Mangiafico

Reckmeyer & Reckmeyer, Law

Ranciato Public Adjusters Group, LLC

Website: Click here! Rent Collection (Professional Services)

Phone: (203) 592-3602

Website: Click here!

Phone: (203) 228-7564

Website: Click here!

Phone: (203) 419-5857

Mortgages & Loans (Professional Services)

Phone: (203) 336-3144

Website: Click here!

Phone: (860) 827-8064

Website: Click here!

Phone: (860) 333-5677

Website: Click here!

Phone: (888) 298-9014

Real Estate Residential (Professional Services)

Attorney / Evictions (Professional Services)

Attorney / Evictions (Professional Services)

Attorney / R.E. Closings (Professional Services)

Attorney / Evictions (Professional Services)

Website: Click here! Public Adjuster (Professional Services)

Name Contact Service

Joseph V Scorese:

Nationwide Direct Private Lender

Ironclad Property Management

Phone: (215) 290-5108

Website: Click here!

Phone: (860) 956-6825

Website: Click here!

Mortgages & Loans (Professional Services)

Property Management Services (Professional Services)

About the CTPOAVendor Program

Let the Connecticut Property Owners Alliance help promote your business to the Real Estate and Property Owner community through our Vendor Affiliate Member Program!

Your company will be listed in our priority vendor database for all CTPOA members. Our events will allow you to display your promotional materials on our vendor tables, interaction with prospective customers and grow your presence on social media. CTPOA makes it easy for you to gain more customers without spending valuable time searching for them.

To sign up to be a CTPOA Vendor, click here!

About Us

Advocates For Property Owners

The Connecticut Property Owners Alliance is composed of experienced property managers, realtors and landlords working together to improve the business conditions for rental property owners. The Alliance saves its members money on essential real estate services, reviews and testifies on pending legislation & law changes and offers its members workshops and meetings on topics that impact landlords.

Why The Property Owners Alliance Was Formed

The Alliance strives to ensure your success in real estate by:

• Saving you money on essential real estate services

• Informing you of law changes impacting your business

• Providing workshops and meetings to help you become a better educated and prosperous rental property owner.