As you know, I am passionate about my clients generating long term wealth through real estate. Part of that normally means owning rental properties so this information is very relevant.
Colorado saw several important changes to landlord-tenant laws in the past year, most of which came into effect in August 2023. Here are some key updates:
Rent Increases:
- Limited frequency: Landlords can now only increase rent once within a 12-month period, regardless of whether the tenancy is a written lease or month-to-month. This prevents landlords from circumventing the rule by issuing multiple increases in rapid succession.
- Increased notice: For tenants without written leases, landlords must provide 60 days’ notice of any rent increase, up from the previous 30 days.
Portable Tenant Screening Reports:
- Landlords are now required to accept portable tenant screening reports as part of the application process, allowing tenants to reuse reports from previous rentals instead of paying for new ones.
Security Deposits:
- The maximum security deposit allowed is capped at two months’ rent, making it more affordable for tenants to move in.
Eviction:
- Pre-suit mediation: Landlords must now file an affidavit demonstrating they complied with pre-suit mediation requirements before pursuing eviction in court.
- Tenancy restoration: Courts have the authority to reinstate a tenant’s lease if they were evicted due to a landlord’s violation of these new laws.
Other:
- Reasonable liquidated damages: Unreasonable clauses in rental agreements assigning excessive costs to tenants for eviction-related matters are now prohibited.
- Radon disclosures: Landlords are required to disclose the presence of radon in rental units built before 1978.
Additional Resources:
- Colorado Coalition for the Homeless: https://www.denverpost.com/2023/08/08/colorado-renters-legislature-housing-tenants/
- Lyons Gaddis, P.C.: https://www.lyonsgaddis.com/news-and-community/firm-news
- DoorLoop: https://www.doorloop.com/laws
Remember, these are just some of the significant changes. It’s crucial to consult with legal professionals or reliable resources for comprehensive and up-to-date information on landlord-tenant laws specific to your situation.
THIS IS NOT LEGAL ADVICE HOWEVER AND IS PUBLIC INFORMATION. PLEASE CONSULT WITH YOUR LEGAL COUNSEL AS I AM NOT AN ATTORNEY.