September 2022 Published by: In This Month’s Edition Pg. 8 - New Haven is the First City in Connecticut to Recognize Tenant Unions Under Local Law Pg. 7 - Webinar 09/15 Companion Pets vs. Service Animals vs. No Pets Allowed Pg. 14 - Top 10 Fall Maintenance Tips for Landlords and Property ManagersPg.18 - Housing Resource & Trade Show in Mystic 09/20 & 09/21
Publisher’s Message A Message From Bob DeCosmo, President Of CTPOA News And Views From The Capitol New Haven is the First City in Connecticut to Recognize Tenant Unions Under Local Law Realtor Report Are Connecticut Real Estate Prices Finally Coming Down? ’There’s a lot of Wildcards Out There’ Insurance Insights 5 Reasons You Should Require Renters Insurance in the Lease Property Management Tips & Tricks Top 10 Fall Maintenance Tips for Landlords and Property Managers Helping Property Owners Since 1994 Table of Contents
CTPOA’s Mission: Educate our members on the Best Practices. Increase profitability. Provide access to Core Services. Advocate for Property Owner Rights. Meet Our Team: Bob CarmineDeCosmoDeCosmoMelissaDeCosmoPaulJenney Chelsea Sayegh PO Box 4795 Waterbury, CT 06704 800-369info@ctpoa.com6153 Published by: CTPOA Financially Speaking 7 Ways to Budget During Inflation Get Energy Efficient 9 Fall Energy Savings Tips for Your Home The Legal Corner Top 10 Tips for Landlords Vendor Spotlight Let Us Bear Your Junk! Tenant Screening Tips & Tricks Companion Pets vs. Service Animals vs. No Pets Allowed
CTPOA is going to try to shed more light on this subject and has a series of webinars planned to help educate landlords on the Fair Housing laws this month and next.
The Fair Housing laws are a source of misunderstanding for many landlords. Not knowing what to do or say can get a landlord in deep trouble and it has happened.
By Bob DeCosmo
04 / Publisher ’ s Message
Promoting Landlord Education
Recently, we have seen an increase in the number of requests for reasonable accommodations, especially for emotional support animals. A reasonable accommodation is a component of the Fair Housing Laws that asks an owner to make exceptions to their normal policy.
There is no instruction manual that comes along with the purchase of investment real estate. There are however statutes and ordinances that govern how properties are to be operated. These laws are meant to protect both landlords and tenants and are evolving every year.
Advocate For Property Owner Rights
05 / Publisher ’ s Message
Service animals are trained to preform specific tasks, such as a seeing eye dog, but today anyone can go on the internet and get a fake certificate making their pet a support animal. There are no certificates for support animals and unscrupulous companies are raking in the money generating these certificates. It’s the Wild West currently with support animals and HUD issued guidance to help clarify the matter but still left plenty of gray area for interpretation and potential litigation.
This webinar will shed light on the support animal subject, and we will follow this webinar up with two co-hosted webinars with the CT Fair Housing Center, the first will be on October 5th. At this webinar, we will dive into the basics of the Fair Housing laws covering topics such as; protected classes, Federal vs. State law and the definition and examples of discrimination in housing. The second webinar in October will get into Disabilities and reasonable Weaccommodations.hopetogetagood
number of landlords and Realtors to attend these zoom meetings. Its far better to get educated on this topic as opposed to getting certified mail from the Commission on Human Rights and Opportunities requesting a reply to a discrimination complaint. Visit www.ctpoa.com/events to register for this webinar and other events.
Starting on September 15th at 2:00pm we will host our first presentation on the topic; Is it a Pet or Support Animal. The presentation will be done by a company called PetScreening which examines tenants request for Reasonable Accommodations and validates that request. According to the company owner, John Bradford III there is a large amount of fraud taking place and many requests are simply trying to avoid an owner’s No Pet Policy in their lease.
Register at CTPOA.com/events
Ctpoa.com/events
At least five tenant unions have formed in Connecticut in the last few years in hopes of demanding change. And now unions in New Haven are one step closer to doing just that, thanks to local government support.
New Haven’s Board of Alders voted unanimously to recognize tenant unions on Tuesday evening making it the first municipality in the state to support unions under local law.
“I am really happy and excited for what this means for tenants in New Haven and tenants across the state of Connecticut who are going to see what’s possible,” said Luka Melanokis Harrison, an organizer with Connecticut Tenants Union, an organization that has been critical to the resurgence of unions in the state.
08 / News & Views From The Capitol
The vote comes as New Haven identifies unions as a potential defense against retaliatory evictions at a time where the number of filings continue to be well above pre pandemic numbers since March. While it’s unknown how many are considered retaliatory, the state saw an uptick of no fault evictions during the Whatpandemic.does this mean?
New Haven is the First City in Connecticut to Recognize Tenant Unions Under Local Law
By: Camila Vallejo, from ctpublic.org
The new ordinance officially defines tenant unions in New Haven as an organization of tenants living in a complex of 10 or more units and that has been created with the support of the majority of tenants. Tenants living in an owner occupied complex will not be recognized, according to the ordinance. While state law mentioned tenant unions, there is no definition in state or local law.
The ordinance states the commission will rely on tenant unions’ participation when reaching a decision and may also refer those findings on the specific complex to other city departments or commissions.
Beyond the definition, unions in New Haven will have a new role with the city’s Fair Rent Commission. The unions will be able to work alongside the commission on investigations of unfair rent increases, poor housing conditions and more. While tenant unions members will still have to file individual complaints, members will be able to testify on each other’s behalf during investigations and support the process.
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He said the law is hopefully just a first step for what's to come as tenants fight to level the playing field.
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09 / News & Views From The Capitol
The ordinance was proposed this summer by Mayor Justin Elicker as the city saw an increase of tenant unions asking for support.
The commission evaluates 13 factors when investigating unfair rent rates an increase from nine used statewide. The
additional factors include damages done by reasons other than ordinary wear and tear, the amount and frequency of increases to rental charges and more.
Things only get done if you get involved, get your voice heard,” said Kay Pittman, a member of a tenant union at Quinnipiac Gardens in New Haven.
The union planted the seed for the ordinance last year when they presented the city their demands.
So the tenants union amendment ordinance will help regulate and recognize tenants unions, and it's one of the first in the state of Connecticut. So we're very excited about it. And while the state statute has information and outlines tenants unions, it doesn't exactly explain how a fair rent commission will be accepting complaints from the tenants unions members,” said Wildaliz Bermudez, the executive director of New Haven’s Fair Rent Commission.
Next, the city’s Fair Rent Commission will decide when unions can start to participate in mediation efforts with landlords.
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The path towards progress
There was no ramp or sort of avenue for tenants to engage collectively with any part of the city, even though everybody in the complex was dealing with the same issues and the same pattern of negligence and maltreatment from the landlord,” Melanokis -Harrison said.
Are CT Real Estate Prices Finally Coming Down? There’s a lot of Wildcards Out There’
By: Alexander Soule, from ctinsider.com
Amico, a Bethel based agent with Re/ Max Right Choice Real Estate, says she is seeing evidence that housing prices in western Connecticut are starting to come back within reach of some who were unable to swing a deal in the first two years of the COVID 19 pandemic.
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10 / Realtor Report
“She saw the market change right before her eyes, and she was getting a little bit
more anxious to get something,” D’Amico said of the New Fairfield home buyer. “A lot of the buyers that are actively looking now have missed out on opportunities, ... because they just were not competitive. We’re seeing more typical, first time home buyers finally getting their offers accepted because they’re not dealing as much with the hyper demand that we had.”
The New Fairfield ranch was on the market at $375,000, and the buyer happened to be stateside while visiting from the United Kingdom. After two years of house hunting, Marlyn D’Amico’s client liked what she saw in the Candlewood Lake town where her family had spent time in her youth, and put in a cash offer at the asking price to get the Dkeys.
Just over 21,700 residential properties sold in the first six months of 2022 in Connecticut, according to a preliminary count published by Berkshire Hathaway HomeServices New England Properties. That was a 16 percent drop from the first six months of 2021 that represented the peak wave of relocations and secondary home purchases during the COVID-19 pandemic.
11 / Realtor Report
In the first six months of this year, the median-priced home in Connecticut sold for $375,000 more than 200 sold at that price as tracked by Zillow including the New Fairfield ranch which was about $25,000 more than the median property in 2021.
I think it’s definitely a transitional quarter there’s a lot of wildcards out there with the economy nationally and globally,” said Paul Breunich, CEO of William Pitt Sotheby’s International Realty based in Stamford. “A lot of people stepped out of
Breunich and brokers with other firms say New York City residents continue to show up at open houses many with the cash to beat thismonthsfirstoffers.competingoutInthesixofyear,
Most Fairfield County communities fell significantly off the torrid sales pace of 2021, though Stratford home sales were flat from the first half of last year, and Danbury saw just a 4 percent decline. Stamford led the state with nearly 780 transactions, down 18 percent from the first six months of 2021.
Pockets of Connecticut were able to improve on the 2021 spring market, however, including Hartford where transactions shot up 20 percent in the first six months of 2022 compared to the same period a year earlier; and New Haven where sales climbed 5 percent. Both cities’ real estate markets are dominated by rentals.
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A Round Hill Road estate in Greenwich was the top sale of the first half at $17.7 million. That number would be eclipsed if Darien completes the proposed purchase of the privately owned Great Island for $100 million. That would rank as the second largest U.S. residential sale this year according to Real Estate Gurus, after Oracle CEO Larry Ellison’s deal to acquire a Palm Beach, Fla. property for $173 million.
the market when they lost three, four or five deals. There’s a whole potential demand pool out there, who got burned out.”
Connecticut sellers got 3.1 percent more than their listing prices on average as reported by Berkshire Hathaway.
Renters insurance is extremely helpful when it comes to keeping you out of court. If the tenant doesn’t have rental insurance, and there’s an instance where damage occurs involving the renter’s belongings, there’s a chance that the tenant will try to claim that the landlord is responsible for said damage. Consider this scenario:
As a landlord or property manager, you can and should require a tenant to buy and maintain renters insurance in the lease.
LandlordsInsurance?should require renters insurance in the lease, because by doing so, you are protecting both you and your tenant(s). An
extra layer of protection never hurts when it comes to owning and renting property. But because laws vary by state, be sure to speak with an attorney about adding a mandatory renters insurance policy to your lease. How much coverage you require from a renters insurance policy is up to you, but be sure to discuss this with your attorney as well. The benefits of renters insurance are as follows: 1. It mitigates the threat of a lawsuit
By: Megan Bullock, from apartments.com
Although renters insurance isn't necessarily required (depending upon your state laws), it's a good idea to make it a requirement to rent your property. If you’re weighing this decision, be aware that adding a renters insurance requirement in the lease will benefit you as much as it will the tenant. Renters insurance is relatively inexpensive for tenants often less than $20 per month. Many renters assume that a landlord’s insurance policy covers their personal property, which it does not.
What Are the Benefits of Requiring Renters
12 / Insurance Insights
5 Reasons You Should Require Renters Insurance in the Lease
3. It will help you find responsible tenants
If a tenant damages the property, such as inadvertently causing a fire, your insurance policy may pay the repair costs. However, you will be left paying the deductible, which can be a substantial amount of money. If the tenant has renters insurance, the policy will likely cover your homeowner’s insurance deductible, easing the financial burden of this situation on your end.
Checks for Renters Insurance InPoliciesthelease,
it will state that the tenant must show proof of rental insurance before moving in. However, it’s possible that a tenant can let the policy lapse, in which case it would no longer be active. To avoid this scenario, have the tenant show proof of renters insurance annually typically as a requirement for renewal. If renters insurance is a mandated part of the lease, the tenant’s canceling of the policy or allowing it to lapse is grounds for termination. Be sure to inform your tenant of the importance of renters insurance before he/she signs the lease.
13 / Insurance Insights
4. It covers your deductible
If there is a fire or other type of damage causing incident in your rental, the tenant may feel that you are responsible for finding them a temporary place to stay. In some states, you are in fact responsible for this and must provide relocation benefits. However, tenants with renters insurance will not need this from you. Their renters insurance will handle this, and you will be free to deal with repairing your rental.
2. It reduces your responsibility
5. It will give you peace of mind
Knowing that your tenants have renters insurance is one less thing you have to worry about as a landlord. You won’t have to face lawsuits and pay accompanying legal fees for issues that are not your responsibility. Both you and your tenant(s) will benefit from purchasing and maintaining a renters insurance policy, and it will keep either of you from having to deal with uncomfortable financial and legal scenarios in the Holdfuture.Annual
A tenant has friends over, and a guest is injured. The tenant does not have renters insurance, and the injured guest (or the hospital) files a claim against the landlord. Even if the landlord’s insurance company agrees to pay, higher premiums are sure to follow. If the tenant did however have renters insurance, it would take the landlord out of the scenario.
If an applicant claims that he/she can’t afford renters insurance, then there is a good chance that their income will not meet your requirements. If a potential tenant cannot pay for the monthly rate for renters insurance, you are risking renting to a tenant who cannot pay rent in full or on time. Many renters, whether they are required or not, purchase and maintain renters insurance for their own benefit. So if you come upon the situation where a tenant cannot afford that additional cost or does not care to purchase a renters insurance policy, it may be in your best interest to continue looking for another applicant.
To prepare for winter’s annual assault on roofs, siding, and walkways, do these 10 fall maintenance tasks to get your rental property ready, and ensure your tenants stay warm, dry, and happy.
1. Clean the roof and gutters
Consider getting gutter guards, but choose wisely. Installing gutter guards can keep out leaves and debris, but be wary of wire mesh guards. They may keep out large debris, but the pine needles and small leaves they allow to pass can block water flow. Mesh guards prevent you from reaching into the gutters, which complicates the task of cleaning. Alternatives include micromesh guards, which keep out pine needles and even shingle grit, and hinged guards that you can lift out of the way when cleaning.
Gutter cleaning may not be a fun job, but it’s something you need to do every year. While you’re at it, use a rake and leaf blower to get the leaves off the roof. Clogged gutters and piles of leaves and twigs in roof valleys are the main reasons ice dams and icicles form. Besides creating extra weight for the roof to support, these freezing weather hazards eventually melt to form pools of standing water that cause leaks.
Top 10 Fall Maintenance Tips for Landlords and Property Managers
2. Trim overhanging branches
In many parts of the country, when temperatures cool and the leaves start to fall, deep freezes and piles of snow aren’t far behind.
Ice storms happen, and iced over branches that overhang the roof can snap off and damage the roof. Even if that doesn’t occur, overhanging branches are sources of roof debris that can cause ice dams, and they provide a bridge for rats, squirrels, ants, and other pests onto the roof and into the attic. Getting rid of them is an
14 / Property Management Tools & Tips
By: Apartments.com
days of harsh, foam degrading summer sunlight are over and before the cold winds
15 / Property Management Tools & Tips
5. Clean or replace HVAC filters
6. Patch holes
control drafts coming through window and door casings by removing the casings and spraying foam insulation in the gap between the window or door frame and the studs. It will probably take a pro about a day to do this to all the doors and windows. If you pay the heating bills, you’ll recover the expense by saving 10 to 15 percent in energy costs over the course of the winter.
Small animals see your basement, attic, and the insulation in your walls as refuges from the cold winter winds. Some critters can get in through holes as small as 1/4 inch in diameter. Patch smaller holes with caulk or foam spray, and use wire mesh, sheet metal, or plywood to cover the larger ones. Be sure to check the attic vents for holes or frayed edges. Do you have rot in the eaves or foundation? Dig it out and fill it with epoxy filler
3. Rake the leaves
Cleaning and replacing HVAC filters is a routine task that you should do every year, and ideally it should be part of your fall maintenance regimen. Central heating systems work 24/7 during the cold months, and they run more efficiently when the filters are clean. Replace all the return air filters as well as any filters on the heater housing itself.
Branches that can potentially interfere with power lines should be the first to go. Working around power lines is hazardous, so this is probably a job for a pro.
Autumn wouldn’t be as beautiful without falling leaves, and raking them up is a fall maintenance job that every property owner should do. If you haven’t already assigned this job to your renters in the lease, you might want to offer them a nominal rent reduction so you won’t need to do it yourself. You might also consider hiring a landscaping contractor or a local teenage entrepreneur. Removing and properly disposing of leaves protects the lawn and garden, prevents slipping hazards when the rains start, and keeps the homeowner’s association and neighbors happy.
important part of fall maintenance.
While you’re cleaning up the branches, don’t forget to prune back ivy and other creeping vines that have reached roof height.
Youblow.can
4. Check weatherstripping and insulation
Drafts coming through unsealed doors and windows drive up the heating bill and can make tenants uncomfortable and even unhealthy. Foam weatherstripping lasts from five to 10 years, depending on quality, and should be replaced when it cracks or shrinks. The best time to do this is in the fall, after the
Loose decking boards and rotted stair treads are irritating in the summer, but they become hazardous in the winter when buried in ice and snow. When you’re replacing popped nails or rotted boards, pay special attention to the railings, especially on outdoor staircases. You want to make sure they can support someone who loses their footing. Applying a non-slip coating to the treads may prevent that slip from occurring in the first place.
Preparing your rental for winter protects your investment and minimizes the chances of getting emergency calls in the dead of winter. It reduces the chances of an accident on your property. You’ll sleep better at night, and so will your renters.
If your property has a wood stove or a fireplace, yearly chimney maintenance is a must. Creosote builds up quickly. Not many landlords or property managers are equipped with chimney cleaning equipment, so this is another job for a pro. Don’t forget to check the damper and clean the spark arrestor.
9. Check and clean the chimney
8. Turn off and drain the sprinkler system
Most sprinkler systems have a drain valve located at the lowest point in the system; if you can’t find this valve, you may need to get one installed. To use this valve effectively, you first need to turn off the main water supply, then open the valve for each zone while the drain valve is open. This allows the water backed up behind each zone valve to flow out through the drain.
Burst pipes are a perennial winter hazard, and they often occur in pipes feeding hose bibs on the side of the house or in the garden. Prevent burst pipes by turning off the valve to these faucets, then opening each one to allow water to drain out. It’s a good idea to leave the faucets slightly open to ensure that any ice that does happen to form in the pipes has room to expand.
to prevent rodents from eating their way into your property.
10. Do a fall maintenance safety inspection
7. Drain exterior faucets
16 / Property Management Tools & Tips
Date: Monday, September 19th, 2022
Location: Sheraton Rocky Hill 100 Capital Blvd. Rocky Hill, CT 06067
Trinity Real Estate offers a portfolio of notes to enable our equity buyer clients to capitalize on the growing opportunities of acquiring discounted distressed REO properties and notes. Jim Heneghan is a seasoned finance and real estate professional with an extensive experience in all facets of real estate, finance, property evaluation, acquisitions, marketing and sales.
Meeting information:
Main Monthly Meeting - Rocky Hill Featuring Jim Heneghan Appraisal business and note brokering Jim Heneghan of Trinity Real Estate has established direct relationships with financial institutions from his 36 years in banking that allows Trinity Real Estate to offer Non-Performing Notes and REO properties at attractive discounts.
Time: 5:45 PM 9:00 PM
RESource Conference is coming to Mystic CT on Sept 20/21
Day 2 of the event includes economic updates and research with Dr. Jessica Lautz and Kimberly Allard from the National Association of REALTORS® in the morning along with a SmartMLS update, a trade show in the afternoon, followed by the keynote address from nationally recognized speaker, Jennifer Cassetta, a builder update and round table discussions on teams, taxes, legal, loans and short sales.
The trade show includes free headshots, and a variety of businesses including those related to the real estate industry – home inspectors, home contractors, home décor, lenders, accountants, insurance providers, mold remediation, interior designers, movers and more!
The conference is preceded by an Affordable Housing Solutions symposium from 8am 10:30am on September 20th. The symposium is free and open to the public.
The Eastern CT Association of Realtors® (ECAR) will be hosting a real estate conference & vendor trade show on September 20th & 21st at the Mystic Hilton in Mystic, CT. This two-day event provides a forum for REALTORS® and licensees to discuss real estate issues, hear from national and local real estate experts, and includes 2 FREE CE coupons.
Day 1 of the conference features renowned presenter Jeremias ‘JMan’ Maneiro’s seminar “ ‘Surthriving’ the Forever Changing Real Estate Market ”, a safety update from the Waterford Chief of Police, a rental market/eviction update, interactive idea exchanges on tech/apps, brokerage/teams, and business strategy plus an evening reception at the Mystic Aquarium.
For more information on the RESource Conference & Expo please visit: https:// www.easternctrealtors.com/resources/2022 resource conference trade show/ ECAR is considered the voice for real estate in Eastern Connecticut, committed to promoting real estate ownership, protecting private property rights, and maintaining the highest ethical and professional standards.
How to Protect Yourself From Inflation
home instead of traveling. Or it might require something more extreme, like taking on a second job or starting a side business.
Higher1979.
If you own your home, your mortgage may be one of your biggest budgeting costs. You may have an opportunity to reap savings by refinancing.
Inflation or an extended period of rising prices can take a real bite out of your budget. This year has seen inflation rising rapidly, with the government’s consumer price index showing food prices soared 10.9% over the year that ended in July. That was the biggest 12-month increase since
1. Streamline Your Mortgage Costs
By: Rebecca Lake, from forbes.com
Having a budget to follow can make your inflation proofing plan work. As you work on making a budget for inflation, here are eight important things to consider.
7 Ways to Budget During Inflation
prices mean you may need to be more strategic about spending to stretch your income. Learning how to budget for periods of higher inflation can help you rethink the way you spend and potentially find money to save.
Balancing saving with debt repayment can be another way to protect yourself against inflation. When prices rise, money in a savings account may not go as far, especially if you’re earning a lower rate on deposits. Likewise, you may choose to pause taking on any new debt temporarily.
So how do you determine if refinancing makes sense? First, consider what rates you’re likely to qualify for based on your credit score and income. Then, compare that to your current interest rate.
20 / Financially Speaking
Periods of rising prices can be unpredictable, and there’s no way to accurately gauge how high inflation might climb or how long it will last. You can take some steps to protect yourself from inflation’s worst impacts. You can start by looking at your short and long term financial plans to see what adjustments you might need to make.
Higher inflation could mean deferring a home improvement project or spending your vacation at
21 / Financially Speaking
• Using energy efficient lightbulbs
If you’re struggling with higher energy prices, you may consider looking into the Low Income Home Energy Assistance Program. This program provides eligible households with financial help in paying heating and cooling bills.
If you’re not in a position to refinance your mortgage, here’s another possibility for saving: Shop around for a better deal on homeowners insurance. Finding a less expensive policy could help shrink your budget and save money.
• Keeping your tires properly inflated
• Setting your thermostat lower in winter and higher in summer
• Carpooling to share fuel costs
Refinancing student loans could help you secure a lower rate, making monthly payments more manageable. But keep in mind that refinancing federal loans into private loans means sacrificing certain benefits and protections.
Next, think about how long you plan to remain in the home and how much you may have to pay in closing costs for a mortgage refinance loan. If you plan to stay in the home at least long enough to reach the break even point meaning you recoup what you pay for closing costs in interest savings that could make refinancing worthwhile.
Aside from a mortgage, you may be budgeting for debt repayment toward credit cards, student loans or other lines of credit. Paying off debt, or at least making it less expensive, can help when higher prices kick in.
3. Complete an Energy Audit
If you have credit card debt, look for 0% APR balance transfer offers or low interest personal loans from your bank. A 0% balance transfer can give you time to pay back what you owe interest free. Personal loans, meanwhile, can help you consolidate high-interest debts at a lower fixed rate.
• Having your HVAC system cleaned and serviced in spring and fall
These are just some of the things you can do to reduce your energy expenses and put money back in your budget.
2. Reduce Rates on Other Debts
• Sealing air leaks around windows and doors
Energy prices are a major driver of inflation. When different energy sources including coal, natural gas, heating oil and electricity cost more, the cost of producing and transporting consumer goods also goes up. The companies that produce or move those goods pass the higher prices on to Budgetingconsumers.for higher prices means considering how much energy you’re using at home and finding ways to curb costs as much as possible. According to the U.S. Department of Energy, some simple ways to reduce energy usage at home or on the road include:
• Unplugging electronics when not in use
• Consolidating trips in the car and driving the speed limit
According to J.D. Power, the average household has 4.5 streaming services and spends an average of $55 on them per month.
• Comparing quotes and changing auto insurance companies for a better price
ditching unused subscriptions can be a good place to Somestart.personal
4. Save on Car Insurance
It’s possible that you may be throwing money away on subscription or streaming services each month.
finance apps can make this easier if you don’t have time to track down all of your subscriptions. Mint and Truebill, for instance, link to your bank account and credit card accounts, look for subscriptions you’re paying for and may help you cancel them if you decide you no longer need or want them. Some apps can even help you negotiate better deals on cable, internet and cell phone services for added savings or to reduce what you pay for bank fees.
• Raising your deductible, which could lower your monthly premium
Speaking of banking fees, switching banks is something else you might consider. On average, checking account fees may be costing you $32 per month or nearly $400 per year. So, changing banks or finding a new checking account could be a good way to add money back to your budget when trying to offset inflation.
As mentioned, changing homeowners insurance is one way to save money when budgeting for inflation and higher prices. But you may also want to rethink your other insurance coverage.
Here are some money saving tips to help you manage your grocery budget:
22 / Financially Speaking
Some ways to save money on car insurance, for example, include:
5. Eliminate Unnecessary Subscriptions and Fees
• Reducing coverage, if appropriate
• Negotiating a safe driving discount
This may not seem like much, but $55 a month adds up to more than $600 per year. If you’re trying to cut expenses in the face of higher prices, then
6. Shop Smarter at the Grocery Store
Feeding your family isn’t something you can skip out on, so it’s important to find ways to budget wisely for groceries when prices are rising.
Here’s a better way to think about it: Whether you’re investing for retirement or other goals, you need to sustain regular contributions no matter what’s going on in your financial life. After all, one of the reasons to invest in the first place is to beat inflation by maintaining and growing the purchasing power of your savings over the long term.
7. Make Room in Your Budget for Investing
You can also use money-saving apps to reduce your grocery spending. With Ibotta, for example, you can earn cash back on grocery purchases at partner stores. This can be a simple way to combat inflation and higher prices at the supermarket.
• Buy in bulk if it allows you to purchase items at a lower unit price.
Bottom Line
low cost staple items into your meals, such as pasta or rice.
• Incorporate more meatless meals into your family’s diet.
• Shop local farmers’ markets if that’s an option where you Incorporatelive.more
For some people, periods of rising prices might seem like the wrong time to invest. Why would you put money into the stock market when you’re facing higher monthly costs?
• Use grocery store weekly sales flyers to plan budget friendly meals.
• Swap out brand name items for generic products as much as possible.
You may be able to supplement your income if you’re investing in dividend paying stocks. A dividend represents a share of a company’s profits. Some public companies actually benefit from inflation, since they’re able to raise prices and realize larger profits, which could be passed on to you in the form of dividends.
From there, look for additional ways to save, such as refinancing debt at a lower rate, reducing your home energy costs and changing insurance providers. Finding ways to grow your income can also help to make up for any budgeting shortfalls that result from higher prices.
contributions once the pressure’s off.
23 / Financially Speaking
That said, if your budget is under pressure, consider reducing your contributions in the short term. Just make sure you restore and possibly grow
Inflation can make household budgeting more of a challenge, and it can be frustrating when there’s seemingly no end in sight to rising prices. Knowing how to prepare for inflation starts with analyzing your fixed expenses and discretionary spending to see what you might be able to cut.
There are investments that are specifically designed to help you beat inflation. Take Series I savings bonds, a nearly risk-free investment that pays an annual interest rate of 9.6% through at least October 2022. When inflation rises, I bonds are designed to pay you more.
Also, check for gaps and cracks around your home’s foundation and around windows, doors and areas where utilities enter your home. Sealing these with caulk can help keep heat in your home.
2. Lower your home’s thermostat to save energy
of temperature difference could result in savings over the season.
Many people forget to lower their thermostats at night. One of the benefits of a smart thermostat is that you don’t have to rely on your memory. The thermostat will adjust thattheaccordingtemperaturethetoscheduleyouset.
You can reap more fall energy savings by using the power of the sun. Open curtains and drapes when the sun shines through your windows. Solar heat through a well-insulated window can raise the temperature in a room by several degrees without your heater having to do extra work. When the sunlight fades, pull your curtains tightly closed to add another layer of insulation between the cold outdoors and the rooms of your home.
9 Fall Energy Savings Tips for Your Home
24 / Get Energy Efficient
Here are some energy saving ways to heat your home and keep it running efficiently this fall.
1. Find and prevent drafts throughout your home
A simple way to achieve fall energy savings is by running your heating system less often. Keeping your thermostat between 68 and 70 degrees during the day and turning it lower at night will help to reduce the cost to heat your home. If you’re willing to wear a sweater, the few degrees
By: Constellation.com
3. Open and close curtains for energybetterefficiency
For fall energy savings that pay off all year round, consider using weatherstripping to close gaps that let in cold drafts. Make sure to check and replace aging weatherstripping around doors and windows. But remember: Not all weatherstripping is alike. For example, sealing a garage door involves different weatherstripping than you would use for your front door.
You may also want to consider adding glass doors over your fireplace opening. They allow you to enjoy the fire, but they prevent room air from going up the chimney. You can also cover the fireplace opening when you’re not using it to put a stop to drafts.
6. Use less energy for water heating during the fall
5. Don’t block your vents
To ensure your system will be energy efficient for fall, it must be clean and in good working order. Dirty ducts and filters clogged with debris make your furnace work harder than it needs to to heat your home. Keeping air filters clean is one of the most important fall heating tips. They’re inexpensive and easy to install, so there’s no reason to overlook this source of fall energy savings.
If you have a fireplace in your home, that’s another opening to the outside. Fireplaces can be a major source of lost heat, so your heating tips for the fall should include making sure that doesn’t happen. If you have a loose or damaged damper, your chimney can suck heat from your room. Make sure to keep your chimney and damper in good condition.
No list of fall energy tips would be complete without mentioning your hot-water heater. Check the temperature setting to make sure it isn’t set too high. For most people, temperatures between 110 and 120 degrees are hot enough for washing dishes and bathing.
If you haven’t checked your insulation in a few
One of the best fall heating tips is to have an expert HVAC professional inspect your furnace. A professional has the experience and training to spot issues you might not notice and can make recommendations for how to keep your system running efficiently all year.
You can achieve even more energy efficient heating for fall if you buy a blanket for your water heater. Stores sell insulation you can fit around your unit to hold in heat.
Some times of year require your home to use more energy than others. Just as you would be interested in ways to save energy in the summer on cooling, you may want to save on heating in the fall and winter. With these fall home energy tips and heating efficiency tips, you can enjoy a warmer, more comfortable home, save money and extend the life of your heating system.
It may sound like common sense, but one of the best (and easiest) fall heating tips is to make sure air can flow freely from your vents. If you have furniture or drapes that block your vents, you could be wasting energy by preventing heat from flowing into the room and circulating. If you can’t move the furniture or drapes, an easy solution is to buy inexpensive vent extenders that direct air from vents under sofas or behind drapes out into the room.
8. Reverse the direction of your ceiling fans for fall
25 / Get Energy Efficient
4. Inspect your furnace before winter arrives
years, take the time to do it now. Believe it or not, insulation does wear out. And manufacturers are always working to improve their products. You may find some of the new attic insulation types are so much better that it’s worth the investment of time and money to add to or replace existing insulation.
Improving the circulation of heat means you can do more with less, making it one of the best fall heating tips to follow. Warm air rises, meaning the warmest air in the room is near the ceiling where it doesn’t impact your comfort. Run ceiling fans clockwise at a low speed in the winter to draw cold air up from the floor. As it flows upward, it pushes the warm air out toward your walls and down into your living space.
7. Check your home’s insulation
9. Check your fireplace for drafts
Don't rent to anyone before checking credit history, references, and background. Haphazard screening and tenant selection too often result in problems, such as a tenant who pays the rent late or not at all, trashes your place, or lets undesirable friends move in. Use a written rental application to properly screen your tenants.
2. Get it in writing. Be sure to use a written lease or month-tomonth rental agreement to document the important facts of your relationship with your tenants including the basics about rent payment and tenant responsibilities, as well as when and how you handle tenant complaints and repair problems, how much notice you must give to enter a tenant's apartment, and so forth. For what to include in a lease or rental agreement, see Ten Terms To Include in Your
Lease or Rental Agreement
3. Handle security deposits properly.
26 / The Legal Corner
Stay on top of maintenance and repair needs and make repairs when requested. If the property is not kept in good repair, you'll alienate good tenants, and they may be legally entitled to the withhold rent, repair the problem and deduct the cost from the rent, sue for injuries caused by defective conditions, and/or move out without giving notice.
By: Beth Dillman, from nolo.com
1. Screen tenants.
Top 10 Tips For Landlords
4. Make necessary repairs.
Establish a fair system of setting, collecting, holding, and returning the amounts tenants pay up front as a security deposit. Inspect and document the condition of the rental unit before the tenant moves in, to avoid disputes over security deposits when the tenant moves out. Check out your state's law to ensure you are handling security deposits correctly.
Learn about your tenants' rights to privacy; see Repairs, Maintenance, and Entry to Rented Premises. Notify your tenants whenever you plan to enter their rental unit, and provide as much notice as possible, at least 24 hours or the minimum amount required by state law. For state by state information, see Chart: State Laws on Landlord's Access to Rental Property.
10. Resolve disputes.
5.Providesecurepremises.
7. Disclose environmental hazards.
Purchase enough liability and other property insurance. A well designed insurance program can protect you from lawsuits by tenants for injuries or discrimination and from losses to your rental property caused by everything from fire and storms to burglary and vandalism.
27 / The Legal Corner
Don't let your tenants and property become easy marks for a criminal. Assess your property's security and take reasonable steps to protect it. Often the best measures, such as proper lights and trimmed landscaping, are not terribly expensive.
8. Oversee property managers.
If your dispute involves money, and all attempts to reach agreement fail, try small claims court, where you can represent yourself. Small claims court is good for collecting unpaid rent or seeking money for property damage after a tenant moves out and the security deposit is exhausted.
9. Obtain insurance.
If that doesn't work, consider mediation by a neutral third party, often available at little or no cost from a publicly funded program.
6. Provide notice before entering a unit.
Try to resolve disputes with your tenants without lawyers and lawsuits. If you have a conflict with a tenant over rent, deposits, repairs, your access to the rental unit, noise, or some other issue that doesn't immediately warrant an eviction, meet with the tenant to see if the problem can be resolved informally.
If there's a hazard such as lead or mold on the property, tell your tenants, either before they move in or as soon as you become aware of the problem. Landlords are increasingly being held liable for tenant health problems resulting from exposure to environmental toxins in the rental premises. See Lead Disclosures for Rental Property FAQ. Check your state law for other landlord disclosures
responsible. Do a thorough background check and clearly spell out the manager's duties so as to help prevent problems down the road.
Choose and supervise your property manager carefully. If a manager commits a crime or is incompetent, you may be held financially
For More Information Visit Our Website: landlordcollections.net Give Us A Call: (800)-369-6153
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All of these are very good reasons for being hesitant to have animals at a rental property, but at the same time, you might be leaving money on the table and/or running afoul of various Fair Housing and Americans with Disability Act issues regarding service animals or emotional support animals (ESAs). Under the FHA and ADA, ESA's and service animals are not considered
32 / Tenant Screening Tips & Tricks
is service animals. A service animal is a dog trained to preform a specific task. Hearing ear dogs, seeing eye dogs, and even dogs that can sense an impeding epileptic seizure are prime examples. They are clearly covered by the
ADA; you cannot ask the nature of the disability, but you can ask what task the animal has been trained to do. You cannot charge pet fees, extra deposits, extra rent, pet rent, pet security or anything Connecticutelse.law
requires public accommodations to permit people who are blind, deaf, or mobility impaired to use service dogs to help them. The ADA has similar provisions but covers a wider range of disabilities, including mental and psychiatric disabilities.
When your applicant mentions they have a dog or cat what is the first word in a landlord’s vocabulary? No, with a slew of good reasons from damage to insurance carriers who discriminate on the breed of the dog to the cost of cleanup.
Most requests though will come from people who have an ESA. An ESA, unlike a service animal, provides emotional support for individuals who have been diagnosed with a psychological disability or condition. Although ESAs can be used as part of a treatment plan, they are not considered service animals under Title II and Title III of the ADA. Instead, emotional support animals are protected under the Fair Housing Act and the
Firstpets.off
Companion Pets vs. Service Animals vs. No Pets Allowed
By: Paul A. Jenney, Compliance Officer With TenantTracks
Like anything to do with ADA or Fair Housing, the requests must be reasonable. A pair of dogs or cats is one thing, a full on zoo is another. So long as you treat every request as individual and evaluate it based on your criteria, require the same documentation from each applicant and document everything like you would from any other applicant you should be fine. As always, please consult your attorney for specific legal advice.
ESAs are distinguished by their close, emotional, and supportive bond with their owner to treat problems of anxiety, depression, or other psychological disabilities.
Air Carrier Access Act so that they may live and travel with their owners.
https://www.foundanimals.org/pets and housing/2021 pet inclusive housing report/ Author’s Note:
33 / Tenant Screening Tips & Tricks
ESAs are generally accompanied by letter from the applicant’s doctor, therapist, or other mental health professional. There are far too many companies out there to make a quick buck selling bogus ESA registrations or even Service Animal registrations and vests and patches and other nonsense, but most of what they do are unethical and borderline criminal depending what sort of fake registration they are providing.
None of the above should be construed as legal advice. Please consult your housing attorney before changing or implementing any Paulpolicy.is
also a board member of Kane’s Krusade, a 501c3 dedicated to supporting surrender prevention. Our Pet Family Advocacy is an innovative movement keeping pet families together. You can view our programs at www.kaneskrusade.org.
animals but initiatives like Michaelson’s Found Animals Foundation is working with the National Apartment Association to change those views. Many property management companies are setting themselves apart by offering pet salons, automated dog washing stations, pet friendly walking trails with waste disposal units, rooftop dog parks, and more to attract that population. So that is taking a part of the population with dogs who can also afford those rents out of the applicant pool. While small property owners cannot offer all or even any of those amenities, just a pet friendly housing policy may drive more and better traffic to your vacancies.
Here is a report from that group with some of their findings:
Finally, there is the consideration of does accepting animals make sense from a financial standpoint? Many renters sought out pets and adopted in droves in 2020 during the pandemic lockdowns and are loathe to give up their pets. Frankly, its hard to find housing who will take
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. Get Involved, Stay Informed.
September 2022 Sun Mon Tue Wed Thu Fri Sat 1 2 3 4 5 6 7 8 9 10 11 12 MSAR 13 CTPOA 14 15 CTPOA 16 17 18 19 CTREIA 20 ECAR CTREIA 21 ECAR 22 23 24 25 26 27 28 29 30
MidAssociationState of Realtors(MSAR)
Contact: 860 793 9414
Contact: 800 369 6153
PropertyConnecticutOwnersAlliance(CTPOA)
Next Meeting: Sept. Time: 5:30 PM
Where: Webinar Contact: 800 369 6153
We will have a great day of golf at the ChippaneebeautifulGolfClub in Bristol, CT. The event will include a 4-person scramble, Cookout lunch and awards dinner following golf. More info here!
About: Is it really an assistance animal or pet? How to legally find Join us for our Webinar find out Presentedmore!byPetScreening. More info here!
PropertyConnecticutOwnersAlliance(CTPOA)
Next Meeting: Sept. 13th Time: 5:30 PM
More info here!
About: Join real estate professionals for an exclusive evening with Waterbury area legislators!
Invited Candidates: Joan Hartley, Ron Napoli, Dave Labriola, Rob Sampson, Digiovanicarlo,Mike Geraldo Reyes, Joe Polletta, Eric Berthal, William Pizzuto
Please join us for the 24th Annual Mid-State Realtors Community Foundation Tournament to benefit the Mid -State Realtors Community Foundation on Sept. 12, 2022
Networking&Meetings&Events
Next Meeting: Sept. 12th Time: 11:30 AM Where: Chippanee Golf Club 6 Marsh Road, Bristole, CT 06010
About: After a two year absence due to COVID our golf tournament is back!!
Where: Amalfi’s Restaurant 580 Wolcott Street, Waterbury, CT 06705
About: Jim Heneghan of Trinity Real Estate has established relationshipsdirectwithfinancial institutions from his 36 years in banking that allows Trinity Real Estate to offer Non Performing Notes and REO properties at discounts.attractiveTrinity Real Estate offers a portfolio of notes to enable our equity buyer clients to capitalize on the opportunitiesgrowingof acquiring discounted distressed REO properties and notes.
Where: Sheraton Rocky Hill 100 Capital Blvd. Rocky Hill, CT 06067
Where: Keller Williams 2777 Summer St, Suite 700 Stamford, CT 06905
Next Meeting: Sept. 20th
Connecticut Real EstateAssociationInvestors(CTREIA)
Time: 5:45 PM 9:00 PM
Eastern AssociationCTofRealtors(ECAR)
Next Meeting: Sept. 20th & 21st
Contact: 800 265 4414
About: Day 1 of the conference features renowned presenter Jeremias ‘JMan’ Maneiro’s seminar “ ‘Surthriving’ the Forever Changing Real Estate Market ”, a safety update from the Waterford Chief of Police, a rental market/eviction update, interactive idea exchanges on tech/apps, brokerage/ teams, and business strategy plus an evening reception at the Mystic Aquarium.
About: Come network with CTREIA in Stamford on September 20th at 5:45PM. On the docket that night is "How hard money lending works" with Pinnacle Financial Services " Hope to see you there.
Connecticut Real EstateAssociationInvestors(CTREIA)
Contact: 800 892 2595
More info here!
Time: 8:00 AM
More info here!
Contact: 800 265 4414
ConnecticutOwners(CTPOA) Sept. PetScreening.Webinar615315thjustafindout.to
Next Meeting: Sept 19th
Where: Mystic Hilton 200 Coogan Blvd Mystic, CT 06355
Time: 5:45 PM 9:00 PM
More info here!
P. (800)369 6153 F. (888)900 9773 E. info@ctpoa.com www.ctpoa.com
CT Real Estate Today allows you to hit your target audience for all things real estate. Contact us info@ctpoa.comat Follow ADVERTISE WITH US! Become Visit: The improvecomposedConnecticutofREALTORSthebusiness
Follow CTPOA: https://www.facebook.com/CTPOA/ Become a CTPOA Member! Visit: Connecticuthttps://ctpoa.com/PropertyOwners Alliance is of experienced property managers, REALTORS and landlords working together to business conditions for rental property owners.
• Providing workshops and meetings to help you become a better educated and prosperous rental property owner.
• Saving you money on essential real estate services
Why The Property Owners Alliance Was Formed
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.
• Informing you of law changes impacting your business
About Us
Advocates For Property Owners
The Alliance strives to ensure your success in real estate by:
