Big changes for Landlords and Renters
The last year has brought with it a considerable number of new changes directly affecting landlords and tenants - including adding mandatory licensing and inspections for all Denver rental landlords and properties.
Gov. Jared Polis signs a for-cause eviction bill on April 19, 2024 as lawmakers and advocates look on. (Source: CPR)
Here are 5 of the big statewide highlights from the last year (personally, I think the biggest changes are in the last two).
Note: the following is NOT legal advice and links have been provided to original source data as much as possible.
RADON DISCLOSURE REQUIREMENTS
Effective August 7, 2023, landlords must inform potential tenants about radon concentrations and any know related tests or mitigation efforts. This disclosure is provided through a legal disclosure and an accompanying awareness brochure. Email me if you’d like a copy.
Tenants now have rights to terminate their lease in the event levels are not mitigated.
PROHIBITED CLAUSES
Effective August 7, 2023 landlords must ensure their lease agreements do not contain certain newly prohibited clauses.
Included in these clauses are topics such as:
Penalty fees stemming from an eviction
Waiving the right to a jury trial
Penalty fees for tenant’s failure to provide notice of non-renewal
Required fee markups for services billed by a third party
PET DEPOSITS
Effective January 1, 2024 landlords need to adjust pet-related deposits and fees in their leases to align with the following terms:
Max of $300 security deposit for pets.
Pet Deposits must be refundable.
Landlords can’t increase rent more than $35 or 1.5% of monthly rent to allow a pet, whichever is greater.
In a city with more dogs then kids, this should be a welcome change for renters.
NON-FAMILY MEMBER OCCUPANCY LIMITS
Effective July 1, 2024 a local government shall not limit the number of people who may live together in a single dwelling based on familial relationships. Instead, they'll have to justify any restriction, such as for health or fire safety concerns, before they enact a roommate limit.
As best I can find, Denver last changed their guideliness in 2021 allowing up to five unrelated adults to legally live together in homes in Denver. Boulder made the same change in 2023. Now, the government can’t set that limit.
This new change appears to open up more opporuntity for “house hacking” and other single bedroom rentals, ideally creating more affordable housing options for renters.
Bill Summary
No “Non-lease Renewal” Without Cause
Effective immediately, with certain exceptions, the bill prohibits a landlord from evicting (not renewing a lease) with a residential tenant unless the landlord has cause for eviction. Read a helpful summary from Colorado Public Radio News here.
Examples of “with cause” non-renewal would include
Unlawful detention of the property
Violiating quiet enjoyment or causing negligent damage
Material violations of the lease terms
“No-fault” reasons include:
Demolition or conversion of the residential premises;
Substantial repairs or renovations to the residential premises;
Occupancy assumed by the landlord or a family member of the landlord;
Withdrawal from rental market for the purpose of selling
A tenant refuses to sign a new lease with reasonable terms; and
A tenant has a history of nonpayment of rent.
defined as being late by 10 days or more twice in single rental agreement
90 Day written notice of non-renewal required for long term leases
If you have a desire to buy or sell in the coming year, let’s chat.
Life has a way of keeping us all moving, and I’d love to be your real estate agent.
Contact me here to set up your free and confidential consultation.
Kevin
