Our newly appointed governor, Jared Polis, has been busy passing a lot of bills this year. These include house bills that address property management, tenancy, and eviction laws that landlords must follow. With the passing of these laws, we as your property management company have been paying close attention, making sure we read up on the new laws and now we wanted to share them with you!
This first bill is 1106, which benefits tenants and protects from outrageous application fees – luckily, ours has always been $30.00 per application, so we’re not affected by this new law, however, it will now limit other landlords for how much they can charge.
With the second bill introduced, house bill 1118 – which requires landlords to give a 10-day notice, instead of the three-day noticed that was required prior to this. This protects landlords from tenants and starts the eviction process should it need to happen, whether from unpaid rent or breaking the terms of the lease. This gives tenants more time to pay and allows for less room for error on the property manager’s side.
Finally, the third bill is 1170. This bill gives renters the ability to withhold rental payments in the event that the landlord fails to respond to a reported problem within a specified timeframe. This only applies if the landlord is breaching the warrant of habitability.
All of these bills protect the landlord and the tenant. Let us know if you ever have any questions!
