In a significant move to safeguard tenants receiving public assistance, Colorado has introduced House Bill 23-1120. This new legislation aims to address the imbalance in eviction proceedings and provide stronger protections for vulnerable tenants. Here’s a breakdown of what this means for Colorado residents:
1. Bridging the Legal Representation Gap
The bill recognizes a stark difference in legal representation between landlords and tenants during evictions. Historically, landlords are more likely to have legal counsel, leaving tenants at a disadvantage. The new law seeks to level the playing field, particularly for those receiving public assistance such as Supplemental Security Income or Social Security Disability Insurance.
2. Mandatory Mediation: A Key Feature
A standout feature of the bill is the introduction of mandatory mediation. Before landlords can proceed with evictions, they must engage in a mediation process with tenants receiving public assistance. This step is crucial in providing a neutral platform for both parties to discuss and potentially resolve disputes without resorting to eviction.
3. Extended Time for Writ of Restitution
The law extends the time before a writ of restitution (an order to vacate) can be executed. This change gives additional time for tenants with disabilities or those on fixed incomes to find new housing, reducing the risk of homelessness.
4. Reporting and Transparency
Starting in 2024, the Judicial Department will report annually on the mediation process. This includes the number of mediations, their outcomes, and costs. This transparency is key in evaluating the effectiveness of the new measures.
5. Fair Housing Practices
Landlords can inquire if a tenant receives public assistance to comply with the new eviction process. However, this cannot be used as a basis for discrimination, ensuring fair housing practices.
6. Rental Agreement Changes
Rental agreements must now include clauses that reflect these new protections. Notably, agreements cannot include waivers for mandatory mediation or clauses that allow landlords to charge tenants for mediation costs.
7. Funding and Urgency
The bill includes funding provisions for the judicial department to implement these changes and emphasizes the urgency of these protections for public safety and welfare.
In summary, House Bill 23-1120 is a progressive step towards protecting Colorado’s most vulnerable tenants. By ensuring fairer eviction processes and providing additional safeguards, the bill aims to reduce homelessness and promote equitable housing practices across the state.
Navigating the New Landscape of Renting in Colorado
Are you looking to rent a home in Colorado? There’s a new law in town that you should know about! House Bill 23-1099, recently passed in Colorado, is changing the game for tenants and landlords alike. Here’s a breakdown of what this means for you as a prospective tenant.
What’s New?
Portable Tenant Screening Reports: Think of this as your rental resume. This report includes your basic information, employment, income, past addresses, rental history, and even a criminal record check. The best part? You can use this report for multiple rental applications without having to pay multiple fees.
No More Unfair Application Fees: Landlords can no longer charge you an application fee if you provide your own tenant screening report. This means you can save money while applying for different rental properties.
Landlords Must Accept Your Report: As long as your report is recent (within the last 30 days) and comes from a recognized agency, landlords are required to accept it. They can’t charge you extra for using your report either.
Know Your Rights: Landlords must inform you about your right to use a portable tenant screening report. This information should be clear in their advertisements, on their websites, and in the rental application itself.
Penalties for Non-Compliance: If a landlord doesn’t follow these rules, they could be liable to pay you $2,500, plus any legal costs. However, if they correct their mistake within a week of notice, the penalty is reduced.
What Does This Mean for You?
This law empowers you as a tenant. It makes the rental process more transparent and less costly. You can now shop around for the perfect home without the burden of multiple application fees. Plus, you’re protected against unfair practices by landlords.
In Summary
House Bill 23-1099 is a big win for tenants in Colorado. It simplifies the rental process, saves you money, and gives you more control. As you embark on your journey to find the perfect rental home, keep this new law in mind. It’s designed to make your rental experience fairer and more enjoyable.
As a property manager, it’s my responsibility to ensure that both tenants and landlords are well-informed about the laws governing rental agreements. With the introduction of Colorado’s House Bill 23-1095, there are significant changes that prospective tenants should be aware of. This article aims to educate you on these changes, ensuring a transparent and fair rental experience.
Understanding House Bill 23-1095:
House Bill 23-1095, enacted by the Colorado General Assembly, is a landmark piece of legislation that revises the state’s rental agreement laws. The bill primarily focuses on prohibiting certain clauses in written rental agreements to protect tenants from unfair practices.
Key Provisions of the Bill:
Prohibited Clauses in Rental Agreements:
Unreasonable Penalties: Clauses that impose excessive penalties for eviction notices or actions due to rental agreement violations are now prohibited.
One-Way Fee-Shifting: The bill eliminates clauses that award attorney fees and court costs only to one party, ensuring fairness in legal disputes.
Waivers: Tenants are now protected against waivers of certain rights, including jury trials and the ability to participate in class actions.
Nonrenewal Notice Penalties: Penalties for failing to provide notice of nonrenewal are limited, protecting tenants from excessive charges.
Redefining ‘Rent’: The bill clarifies that ‘rent’ refers only to the monthly payment for occupancy, excluding other fees and charges.
Exceptions and Applicability:
The bill does not apply to mobile homes in mobile home parks in certain aspects.
It respects rights and remedies available under other laws, including the “Mobile Home Park Act”.
Definitions and Scope:
The bill provides clear definitions for terms like “accessory dwelling unit”, “dwelling unit”, “rent”, and “rental agreement”.
Effective Date and Applicability:
The act takes effect after a 90-day period post-adjournment of the general assembly, subject to a referendum petition.
It applies to rental agreements executed after its effective date.
What This Means for You as a Tenant:
As a prospective tenant, these changes are designed to protect your interests. Here’s what you need to know:
Fair Treatment: The bill ensures that you are treated fairly in terms of fees and legal disputes.
Clarity in Agreements: You can expect more transparency in your rental agreement, with a clear distinction between rent and other fees.
Protection of Rights: Your legal rights, such as participating in class actions and enjoying peaceful occupancy, are safeguarded.
Our Role as Property Managers:
As property managers, we are committed to complying with these new regulations and ensuring that our rental agreements are fair and transparent. We encourage you to review your rental agreement carefully and reach out to us with any questions or concerns.
Conclusion:
House Bill 23-1095 represents a significant step towards more equitable rental agreements in Colorado. As a prospective tenant, understanding these changes will empower you to make informed decisions and ensure your rights are protected in your new home. We, as property managers, are here to guide you through this new rental landscape and ensure a positive renting experience.
Understanding Pet Ownership Laws in Colorado: A Look at House Bill 23-1068
In Colorado, a piece of legislation known as House Bill 23-1068 has been introduced. This legislation revolves around the rights of tenants in relation to pet ownership within rental properties. The bill seeks to provide a comprehensive framework for pet ownership laws within the rental housing sector in Colorado.
House Bill 23-1068 is comprehensive in its approach, detailing the rights of tenants who desire to have pets in their rented accommodations. The intent behind the legislation is to provide a clear set of guidelines that address potential issues that might arise between landlords and tenants due to pets.
As the number of pet owners continues to grow, there is a need for clear regulations that define the responsibilities and rights of both tenants and landlords in rental situations. Pets, for many individuals and families, are considered integral members of the household. Thus, the objective of House Bill 23-1068 is to facilitate a harmonious living environment where tenants can live with their pets without facing undue restrictions or prohibitive fees.
While the legislation sets forth certain guidelines, it also emphasizes the importance of mutual respect and understanding between landlords and tenants. The bill aims to strike a balance, ensuring that while tenants have the freedom to have pets, landlords also have the right to ensure that their property is maintained and that other tenants’ rights are not infringed upon.
To achieve this balance, House Bill 23-1068 outlines certain parameters. For instance, it touches upon the topic of pet fees, aiming to ensure that any fees imposed are reasonable and reflective of the actual costs incurred by landlords. It also provides guidance on the type of rules and regulations landlords can impose concerning pets, ensuring they are not overly restrictive.
It is essential for tenants to be aware of their rights and responsibilities as outlined in the bill. By understanding the legislation, tenants can ensure they comply with the rules and, at the same time, advocate for their rights if they feel they are being treated unfairly. Knowledge of the legislation also empowers tenants to engage in constructive dialogue with their landlords, fostering a positive landlord-tenant relationship.
Similarly, landlords can benefit from a thorough understanding of House Bill 23-1068. By aligning their pet policies with the guidelines provided in the bill, landlords can ensure they are on solid legal footing. Furthermore, by adopting fair and reasonable pet policies, landlords can attract a broader range of potential tenants, including responsible pet owners who are often long-term renters.
The broader societal implications of this legislation cannot be understated. By providing a framework for pet ownership in rental properties, House Bill 23-1068 reflects Colorado’s commitment to fostering inclusive communities. It recognizes the value and importance of pets in many people’s lives and seeks to ensure that individuals are not forced to choose between finding a place to live and keeping their beloved pet.
In conclusion, House Bill 23-1068 serves as an essential piece of legislation in Colorado’s rental housing sector. It addresses the growing need for clear pet ownership laws that benefit both tenants and landlords. By setting forth clear guidelines, the bill aims to create a harmonious living environment where both parties’ rights are respected and protected. As the dynamics of rental housing continue to evolve, such legislation will play a pivotal role in shaping the future of pet ownership in rental properties in Colorado and potentially serve as a model for other states.
As always, if you have any questions, please don’t hesitate to contact us directly.
The recent introduction of bill HB23-1115 in the Colorado State House has sparked discussions about rent control and its potential impact on communities in the state. While some may see such action as a viable solution to the affordable housing crisis, it’s important to understand why it’s not the answer.
Drew Hamrick, general counsel and senior VP of government affairs of the Colorado Apartment Association, has expressed concerns about the potential negative effects of controlling rent in the state. He believes that while it may be well-intentioned, it will only make housing more expensive and less available, compounding the problem instead of solving it. This is because rent control removes the financial incentive to create new housing units and improve existing ones, and it restricts resident mobility.
One of the primary issues with rent control is that it can actually decrease the supply of available housing, driving up costs and exacerbating the affordability crisis. When property owners are limited in their ability to set rents at market rates, they may be less likely to invest in maintaining and upgrading their properties, leading to a decline in the quality of housing stock. In addition, the lack of financial incentives to build new units can reduce the supply of available housing, making it more difficult for renters to find a place to live.
Another issue with rent control is that it can negatively impact neighboring communities. If one city enacts rent control, builders may be less likely to construct new housing units in that area, driving up the cost of housing in surrounding municipalities. This can create a domino effect where renters in neighboring communities end up paying more for housing because their neighbors artificially reduced supply with the rent control ordinance.
For more than 40 years, Colorado has prohibited local governments from enacting rent control ordinances, recognizing the damage rent control can do to available housing and understanding that one local government’s housing policy can negatively impact neighboring communities. Instead of focusing on controlling rent, the state needs to implement policies that encourage the creation of more housing units.
One promising solution is to encourage the construction of multifamily units. These types of units are more energy-efficient, require less land, and are less expensive to build, making them a viable solution to the state’s housing crisis. Multifamily units also allow people to live closer to where they want to live, reducing the need to drive and improving quality of life.
In conclusion, while the affordable housing crisis is a pressing issue that needs to be addressed, rent control is not the answer. It can decrease the supply of available housing, drive up costs, and negatively impact neighboring communities. Instead, Colorado should focus on policies that encourage the creation of more housing units, particularly multifamily units, to help address the state’s housing shortage.
If you have any questions about our stance on HB23-1115, please feel free to contact us here. If you would like to voice your opposition to this bill, please follow this link.
A Step-by-Step Guide to the Tenant Screening Process
As a property manager, finding the perfect tenant is crucial to the success of your rental property. Not only do good tenants pay their rent on time and take care of the property, but they also have a positive impact on the overall community of the rental property. On the other hand, problematic tenants can cause a host of issues, including late rent payments, damage to the property, and conflicts with other tenants. That’s why it’s important to have a thorough tenant screening process in place to ensure that you are selecting the best fit for your rental property.
The tenant screening process typically starts with the application process. This is where potential tenants provide you with their personal and financial information, which you can use to determine their suitability as a tenant. It’s important to have a standardized application form that all potential tenants must complete, as this will help ensure fairness and consistency in the screening process.
Proof of Income
One of the first things you should look for in a tenant application is proof of income. This can include pay stubs, tax returns, or other documentation demonstrating the potential tenant’s ability to pay rent. It’s a good idea to set a minimum income requirement, as this will help ensure that the tenant will be able to afford the rent on your property.
Rental History
Another important factor to consider is the potential tenant’s rental history. You should ask for the addresses of their previous rentals and contact their previous landlords to get a sense of their tenancy. You can ask about their payment history, whether they caused any damage to the property, and whether they had any issues with their neighbors.
Credit History
In addition to their rental history, you should also check the potential tenant’s credit history. This can give you a good idea of their financial responsibility and whether they have a history of paying their bills on time. It’s a good idea to set a minimum credit score requirement, as this can help ensure that the tenant will be able to pay their rent on time.
Background Check
Another key aspect of the tenant screening process is a background check. This can include a criminal background check, as well as a check for any past evictions. It’s important to be aware of any red flags that may arise during the background check, as these can indicate potential problems in the future.
Once you have gathered all of this information, it’s time to make a decision on whether to accept or reject the potential tenant. It’s important to be fair and consistent in your decision-making process, as you don’t want to discriminate against any potential tenants based on their race, religion, national origin, or any other protected characteristic.
If you decide to accept the tenant, it’s a good idea to have them sign a lease agreement. This is a legally binding document that outlines the terms of the tenancy, including the rent amount, the length of the tenancy, and any rules or regulations that the tenant must follow. It’s important to have a thorough and well-written lease agreement to protect both you and the tenant.
In conclusion, the tenant screening process is a crucial step in finding the perfect tenant for your rental property. By gathering information on the potential tenant’s income, rental history, credit history, and background, and making a fair and consistent decision based on this information, you can help ensure a successful tenancy. Don’t forget to have the tenant sign a lease agreement to protect both you and the tenant and set clear expectations for the tenancy. By following these steps, you can find the perfect tenant for your rental property and create a positive and successful rental community.
Please feel free to contact us with any questions you might have. It’s our pleasure to serve you.
The featured image of this house on fire hits close to home - because it is MY HOME. And it motivated this article to ask this: When you experience rental property emergencies - who do you call?
You have been trained that when emergencies like fire or flooding happen to our properties, your first call is to first responders, and the second call is to your insurance company. But who else needs to be called? In a recent survey, most people became somewhat paralyzed after those two calls. And because of that, we strongly believe the following:
Landlords Need Property Managers
Property managers are well equipped with the knowledge and relationships necessary to act quickly on your behalf when rental property emergencies happen. They have first responders and your insurance company on speed dial - that’s a given. But they also know who to call to arrange alternate housing for your tenants in the event that your property is unlivable.
A good property manager knows the reputable restoration companies in the area. And don’t be fooled - everyone who shows up after an emergency, knocking on your door is NOT NECESSARILY reputable.
When a flood happens - a good property manager has quick access to a quality plumber who will make quick work stopping the problem. And if (God forbid) a tree should come crashing in through your roof, your property manager will know exactly who to call - not only to remove the tree, but to repair/replace the roof.
When rental property emergencies happen - and they do - having a good property manager is your best asset to getting your property back in livable shape, and taking care of your tenants.
If you’d like to speak to us about becoming your property manager of record, please feel free to contact us here, or call us directly. It’s an honor to serve our landlord community.
Home security systems are typically a no-brainer. You probably have one installed in your own residence. But what about your investment properties? There’s obviously an expense involved with having your rental properties monitored, and many landlords decide to forego that expense to maximize their profits.
We encourage landlords to consider installing home security systems in all of their rental properties for a number of reasons. First, many insurance plans offer a discount for properties that are covered by a monitoring plan. Those discounts add up, and can offset the expense of equipment, installation and monitoring.
It may seem like it would be better to allow your tenants to install equipment if they wish to add a layer of security beyond the functioning door locks. However, few tenants tend to add home security systems because of the expense, and the end result can be a vulnerable asset and unnecessary risk to the occupants of your property.
Speaking of your tenants, having home security systems preinstalled makes your property much more attractive to prospective tenants. Don’t underestimate the value of making prospective tenants feel that safety and security are your priorities as a landlord. Remember, you and your tenants are essentially opting into a relationship - and anything you can do to build trust and respect is a good thing.
And finally, new technologies have made it much less expensive to install viable home security systems. Some systems will even offer the equipment for free or at an incredible discount provided you sign up for their monitoring plan. And monitoring isn’t a back breaker, either. Many plans come in under $20/month… and since we’re talking about your investment property… we feel like that’s a great investment.
If you’d like to discuss home security systems with us, we’d be happy to offer our thoughts on the best system for your specific needs. Contact us here.
So you’ve got yourself an investment property, and now it’s time to navigate the world of rental listings to tell the world about your vacancy. There are a few tips that we can offer to help you attract not just prospective tenants… but the RIGHT tenants.
The first tip we can offer for rental listings is the proper use of localized keywords. Keywords are critical for rental listings because they are essentially “Google food”. If you want to climb the organic search results ladder, then finding the keywords that people are actually searching for is important. And when you’re doing your research, make sure that your rental listings include localized keywords to take advantage of the geo-search elements of Google.
Rental listings with high quality photos absolutely perform better than those with more of an amateur appearance. We suggest that quality is directly related to the photographer more than the actual camera equipment. With today’s technology, it’s possible to take great photos with your cell phone… but what separates some rental listings from others is the composition of the photography. And for that, we strongly recommend that you go with a professional photographer.
And finally, rental listings that draw attention to the amenities of the property tend to perform better than those who simply assume that prospective tenants already know what’s included. If your master bath has jets, make sure that you mention it. If your kitchen has accent lighting, tell your audience about it. This may seem obvious, but we’re constantly surprised at how many rental listings don’t call out the property’s highlights and features.
As Denver’s preferred property managers, we’d be happy to help you develop your rental listings for maximum expected benefits. Please feel free to contact us with any questions you might have here.
Many people dream of becoming a landlord, owning several investment properties, each of which provides financial security as tenants cover the expense of the mortgage(s) and then some. However, in today’s real estate market, the promise of profit can sometimes be elusive if you don’t pay attention to some fundamentals.
In. most cases, it is advisable to work with a property management company, who can guide you in the decisions that always go along with becoming a landlord. We will attempt to cover several of those here.
One does not simply pull a number out of thin air when determining what the rent should be on a given property. Properly assigning rent value is accomplished by determining the actual rental market value of your property. It is common to experience rents that are LESS than enough to cover a mortgage and expenses. Before becoming a landlord, you will want to make sure that it makes financial sense to do so.
2. You will need to set up (and maintain) an expense account to cover things like maintenance, management fees, and the occasional repairs that will need to be made. The older your house, the more you should budget for your expense account. Many of these expenses can be quite expensive, and as a landlord, you cannot afford to be unable to afford them. If the heater goes out in the middle of winter, you are obligated to replace it post-haste.
3. Finding the right tenant is an art form… and best left to the professionals. You might think that by becoming a landlord, you’ll have instant access to a ready pool of tenants (ie. family), but in fact… that rarely ever works out well. The greater the level of informality, the more likely you are to experience short or late payments, and many more tenant requests for repairs and/or upgrades. A professional property manager knows how to screen for the right candidates, especially zeroing in on those who will care for the property and pay on time, every time.
4. On the topic of payments, it becomes necessary to consider what happens if/when your tenant fails to pay, or pays late. In some cases, eviction may be the proper course of action. However, eviction is not as simple and straightforward as asking your tenant to leave. There are many laws in place that must be rigidly adhered to. In the event that you have to take your tenant to court - you are responsible for all the attorney fees and court costs. This is another great time to have a professional property manager on your side.
5. Another wake up call to becoming a landlord comes when you realize that between tenants, you are not bringing in any money, but you are still required to cover all of the expenses of maintaining your home. If tenants damage your property, or you haven’t properly maintained it, you will have extra expenses to bring it back into proper condition for rental. Every day that your home is empty, it’s an expense that must be accounted for.
These are just the tip of the iceberg for those considering becoming a landlord. It’s been stated several times that there’s genuine value in establishing a relationship with a professional property manager. We stand ready to advise and assist you, should you desire our assistance. Contact us today, and let’s discuss your needs.
