New Laws and Regulations Make It More Difficult and Expensive to Be a Landlord
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HB 21-1121:
Limits landlords to increasing rent once per 12-month period, regardless of whether the tenancy is a written lease with a set term, month-to-month, or an indefinite arrangement with no written documentation. Landlords must also give residential tenants who do not have a written rental agreement a 60-day written notice before any rent increase and may not terminate a tenancy to get around this provision.
SB 21-173:
Prohibits landlords from using self-help eviction tactics, such as changing the locks or shutting off utilities, to force tenants out of their homes. Landlords must now go through the legal process to evict a tenant, even if the tenant is behind on rent.
Ordinances - Sec. 32-105:
On May 3, 2021, the Denver City Council passed a new ordinance requiring a residential rental property license. This is for anyone offering, providing, or operating a residential rental property in the City and County of Denver. A residential rental property is any building, structure, or accessory dwelling unit that is rented or offered for rent as a residence for 30 days or more at a time. The licensing program is part of Denver's drive to achieve minimum residential rental housing standards. Multi-family buildings needed to have their licenses by January 1 2023 and single family homes will need it by 2024.
These are just a few examples of the new laws and regulations that are making it more difficult and expensive to be a landlord. If you're a landlord, you need to be aware of these changes and be prepared to comply with them.
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Joseph Newman
The Colorado Broker | License ID: 069025
The Colorado Broker License ID: 069025