Landlord-tenant law in Colorado covers everything from the questions you can include on a rental application, to how and when you can increase rent or terminate a tenancy. Colorado landlords must follow specific state, federal, and local rules when it comes to owning a rental property. Failure to comply with your legal responsibilities can lead to costly disputes with tenants and hefty financial penalties (for example, if you fail to disclose lead-based paint hazards in the rental or illegally discriminate when choosing tenants). Our government also regulates a few things in the industry to keep in mind.
Disclaimer: We are not attorneys and we are not giving legal advice. For legal advice and/or questions please contact an attorney.
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Here are 5 common questions to keep in mind about owning an investment property:
1. Does Colorado have rent control?
No, we currently do not. But it is something that could be a possibility in the future as consistently people are pushing for this to become a thing in Colorado.
2. Can the government decide on a rental?
There are local and federal laws that must be followed when owning a rental property. To a certain extent, the government can limit these actions if the actions are in violation of any of the laws.
3. Is rent going down in Colorado?
To be honest, it depends on where your property is located. We have seen rents decrease in downtown Denver. Rents hold pretty steady in other areas, and then out in the suburbs, we have seen rents start to tick up as that becomes a more desirable area for people to live.
4. What are renters rights in Colorado?
Tenants have rights under federal, state and some local laws. Among others, these include, the right to a habitable home, and the right to not be discriminated against.
