If you are a property owner or you are in the process of becoming a property owner in Colorado, there are laws and regulations you should be aware of. Laws relating to property ownership can be complex, and it’s important to have a complete picture of your landlord rights and obligations. Here, we will go over the basics to help you understand how to look after your landlord rights and comply with Colorado laws. For additional information, we recommend you contact your local jurisdiction.
Landlord Rights in Colorado
As a landlord in Colorado, your standard responsibilities in accordance with state laws are as follows:
- Maintenance of the property
- Paying for any repairs that are needed
- Informing tenants of any changes that will affect them
- Resolving issues that arise between tenants (or confronting a problem with a tenant who is in violation of their agreement)
- Keeping the property safe for all tenants
- Giving tenants at least 21 days of notice for rent increases and Notice to Quit (if a tenant has a short-term agreement)
- Giving all tenants consistent protections during their entire rental period
- Not taking part in criminal activity
Rental License Laws
In Colorado, you do not have to have a license to rent a property. However, some areas like Denver necessitate a license for some short-term rentals. Always refer to your local government to ensure you don’t need a license.
Rental Agreement Laws
Landlords in Colorado must utilize a written rental agreement in regard to leases that last at least 12 months. With that being said, rental agreements work to safeguard you and your tenant from potential issues down the line. You should always, therefore, have a rental agreement in place. In the agreement, you must disclose any damage to the property (insects, rodents, roof damage, water damage, etc.), the length of the lease, the expected rent amount, and your duties as a landlord.
Landlords in Colorado are prohibited from discriminating against tenants due to their age, color, creed, disability status, national origin, race, religion, sex or sexual orientation. This is stated in the Colorado Fair Housing Act. A good way to find responsible tenants is to look closely at a tenant’s financial history and credit history to determine their rental eligibility. However, you should always comply with Colorado discrimination laws during this process.
Deposit, Late Fees and Rent Increases
In Colorado, there are no limits on security deposits. Ideally, this amount should be established with your property’s value in mind. You can also charge late fees as long as they are reasonable and not exorbitant. In addition, if you are planning to increase the cost of rent, this cannot be done during a lease (if the lease includes the specific payment amount).
Abandoned Property Law
If a tenant abandons their belongings and doesn’t contact their landlord for thirty days, the items in question then belong to the landlord. However, a 15-day notice must be delivered in writing to the tenant’s last address beforehand.
The state of Colorado requires landlords to give a tenant three days’ notice before filing for an eviction. Reasons for eviction can include not making payments, violating the lease agreement, taking part in criminal activities or refusing to leave after a lease has expired. Tenants can be evicted right away if they have violated their agreement repeatedly.
While these laws offer a window into landlord rights and obligations in Colorado, additional information should be obtained from your local government. Residential landlord-tenant guides can also provide a wealth of helpful knowledge for current and prospective property owners.
How All County Denver South Can Help
Need more tax tips? All County Denver South Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or more tax tips, call us today at (720) 664-4550.