Recently, the Denver City Council passed a new property management bill that affects all landlords in the area. The most significant change is that rental property owners are now required to have a license. While this was already a requirement for short-term rental owners, the new bill includes all landlords.
You may be wondering what more you should know and how the new property management bill will affect your business moving forward. Get the details from the pros at All County Denver South!
Deadlines for Licenses
Landlords who own multi-family properties must have their license by January 1st, 2023. For single-family property owners, the deadline extends to January 1st, 2024. This phasing process is designed to limit the number of applications submitted at one time. Before you apply, complete the following tasks:
- Read the license ordinance to be sure you’re applying for the correct license.
- Complete a home inspection.
- Determine the number of licenses required for your property.
- View online training videos for the application process.
- Register for an account with Denver’s Permitting and Licensing Center.
- Collect all the documents you’ll need.
More detailed information about each of these steps is available at Denvergov.org.
Application Fees and How to Apply
As a part of the new property management bill, applications fees differ depending on how many units a landlord owns. The cost begins at $50 and can reach up to $500. Though an amendment to the bill was proposed to limit the fee to $500, it did not pass. Some council members expressed concern that this could up rent costs for tenants in the future. Whether a future amendment will be passed to address this issue has yet to be seen. For the time being, the fee will remain at $25 for all landlords. The new fees don’t go into effect until January 1st, 2023.
To apply for a license, complete these four steps:
- Send in your application to Denver’s Online Permitting and Licensing Center online.
- Pay your fees.
- Go through the city application review process.
- Receive your new license and display it in your place of business.
Landlords must also renew their license annually and apply for renewal prior to the expiration date. Operating with an expired license is against the law.
New Inspection Rules
In accordance with Denver’s new property management bill, landlords must have their properties inspected every four years. The purpose of this is to protect long-term tenants and ensure the property is more secure. Landlords should keep track of their inspection dates to stay compliant with Denver’s regulations.
How All County Denver South Can Help
If you need a property management company in Denver, look no further! 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 to learn more about the new property management bill passed in Denver, call us at (720) 664-4550.