Questions for Connecticut Landlords
Greetings to those in the Nutmeg state! I'm almost ready to list my first property in Connecticut and have a few questions. I've been reading the CT Rights and Responsibilities of Landlords and Tenants and have a few questions.
1. "Move In Fee" in lieu of a security deposit. I don't see any reference to this. In Chicago, I have done away with security deposits as they are the biggest reason landlords and tenants end up in court. As a result, I charge a non-refundable move in fee. This has worked out well and gives me instant working capital for repairs. I'm confident in my tenant screening which is why I do this.
2. What the heck is this rent increase rule?!? "If the landlord and tenant cannot agree on a new amount of rent, the tenant must pay whatever the tenant considers to be the fair rental value of the apartment. That amount may be the same amount as the old rent or a higher amount that is less than the landlord is asking for." WOW. What tenant is going to pay more?!?
Furthermore, my property is in a town with a Fair Rent Commission. Can somebody please describe this process if they've had a complaint filed against them. I can't imagine that these are very landlord friendly.
Thanks for your help!