Protect your Landlord Rights
Two bills are now in process to limit your rights as a landlord. House Bills: 20-1009 and 20-1141. These two bills propose prohibiting late fees unless late by more than 14 days, not guaranteeing they will be good for funds after 14 days and giving them no incentive to pay on time, which could increase your fees as well. It also proposes it will limit landlords from charging any form of late fees, increasing fees such as a tiered payment plan would not be allowed, and requiring interest on any form of late fee is not permissible. Evictions solely based on failing to pay their late fees will not be warranted. And, charging any other type of fee other than rent or a used space fee (must be exact/personalized and not a common area/amenity fee), including charging a leasing or reletting fee if they move out, a pet fee, or any other fee. Non-sufficient funds or fees cannot be charged back to the tenant. These bills limit your rights by suppressing eviction records as well. Landlords could face fines up to $2,000 fines for non-compliance.
Contact sponsors of this bill with your opposition: Julie.email@example.com; firstname.lastname@example.org, if you do not want your rights stripped away as owners by diluting your ability to enforce late terms and making it easy for perpetual late payers to avoid their rent obligations. This will further restrict housing choices for Colorado families.
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