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City of Niagara Falls Rental Property & Landlord Insurance Requirements (2024)

Published February 17, 2024 • Encompassinsurance.us • Buffalo, NY, USA Trending Tags: #Landlord #Insurance #RentalProperty #Realestate #NiagaraFalls


landlord rental property insurance niagara falls

Late in 2022, the City of Niagara Falls, NY passed an ordinance requiring landlords and owners of rental properties within the city to register their properties with the city with the Landlord & Property Clerk's office. Our office has fielded several calls regarding these new requirements, with many landlords not realizing that this ordinance is even in effect.


Registration comes with a checklist of paperwork filings, monetary fees and proof of insurance requirements. Encompass Agency insures many landlord rentals in Niagara Falls and has been able to accurately counsel our customers on how to obtain the proper paperwork to make sure they are compliant.


If you own a rental property in Niagara Falls be sure to read through our checklist below, and if you have questions regarding the insurance element of this ordinance, be sure to reach out to our knowledgeable agents via our website or by calling 1-800-484-9712 to


Niagara Falls Landlord Initial and Renewal Registration Fees


According to the new ordinance, all owners of rental property within the City of Niagara Falls are now required to register their properties every year regardless of whether or not the rental property is occupied or vacant.


  • Registration is not required for owner-occupied properties containing two (2) or fewer units. The ordinance also updates the fee schedule associated with registering and renewing rental properties.

  • The initial registration fees are as follows per building: 1-3 rental units - $95 Fee 4+ units - $175 Fee Towers - $225 Fee

  • The renewal registration fees are as follows per building: 1-3 rental units - $25 Fee 4+ units - $40 Fee Towers - $40 Fee

  • Rental Dwellings are to be registered and renewed on an annual basis

Registered Agent Requirements


In order to properly register your rental with the city there is a registered agent requirement along with your annual fee:

If you do not occupy the property that you are registering AND you DO NOT reside in Niagara County, you are REQUIRED to designate a managing agent who is authorized to accept service of notices and legal process. The managing agent MUST reside and/or have an office in the County of Niagara and/or any adjoining county thereto (Le. Erie, Genesee or Orleans County). All authorized agents MUST ALSO provide a copy of their photo identification upon submission of application.

Encompass Agency recommends the use of a registered agent service in Niagara County or one of the surrounding counties that can accept legal notices on your behalf.


Proof of Property Insurance or Bond

Perhaps the most interesting aspect of this ordinance is the proof of insurance or bond requirement. This is one of the first instances we have seen at Encompass Agency of proof of property insurance being required by a municipality countrywide.


The text of the ordinance reads:

In order to be licensed in the City of Niagara Falls, the property owner must provide proof of at least $25,000 in fire insurance and also name the City of Niagara Falls as a certificate holder on that insurance policy. This requirement is to indemnify and save harmless the City of Niagara Falls against all forms of damage and losses which may result from a fire or other catastrophic loss at the rental premises which would cause the City of Niagara Falls to have to demolish or maintain the building. In lieu of proof of insurance, the registrant may alternatively include proof of a surety bond in the sum of $25,000, which is to be filed with the Niagara Falls City Controller's Office.

Encompass Agency encourages all landlords to review their insurance policies to make sure you have the minimum requirements on your policy as outlined above. Certificates of Insurance need to include the City of Niagara Falls as additional insured, which can be arranged with most insurance carriers via official endorsement.


encompass agency insurance landlords

Certificates need to be properly completed, signed and sent into the city on an annual basis. If you are having difficulty obtaining coverage on your property or difficulty getting the required language on your certificate, please feel free to contact our agents to discuss how Encompass can fulfill these minimum requirements for you.


Alternatively, Encompass also provides low-cost surety bonds in the amount of $25,000 that can fulfill the requirement of the ordinance without the extra cost/coverage of a traditional insurance policy.


Proof of Registration for Business Entities


Additionally, if you own your property in the name of a business (Corporation, LLC, Partnership etc.) you are required to show proof of your business registration with the NYS Department of State. You can quickly obtain this by visiting the DOS at this link: apps.dos.ny.gov/publicInquiry/


Completing Your Registration

To facilitate the process, landlords are instructed to fill out the application and make payment via checks or money orders payable to the City Controller. Subsequently, the completed form and payment should be dispatched to the designated address: City of Niagara Falls, Landlord Rental Registration, P.O. Box 69, Room 35, Niagara Falls, NY 14302.


Additionally, the notice underscores the repercussions of non-compliance with registration requirements. Violations incur late fees, commencing at $50 after the due date and escalating to $1,200 after 201 days. Moreover, any outstanding registration fees and late fees are subject to becoming liens on the rental or unoccupied property.


Looking to speak with an agent about your rental?

Connect with an Encompass agent to get started

Call now 800-484-9712 or visit us online at www.encompassinsurance.us

Available 9:00 AM - 4:00 PM EST Monday through Friday

Serving the East Coast of the United States


Original Content Copyright © 2024, Encompass Agency, Inc. All Rights Reserved.

1 Comment


me
Feb 24

When are the State and Federal Government going to reimburse landlords for floating the economy during COVID. The city and county are complicit due to the court refusing to process evictions. Tenants who had no change in taxpayer provided income were able to steel money with the support of politicians.

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