Lease Renewals REQUIRED in Colorado - except in these 6 instances: HB24-1098.
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- Опубликовано: 28 сен 2024
- Read the full article at:
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Read the full bill HB24-1098 at:
www.rentgrace....
Grace Property Management & Real Estate - serving real estate investors and residents since 1978.
Grace Property Management & Real Estate
2200 E 104th Ave Suite #105 Thornton, CO 80233, United States
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www.rentgrace....
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This new law is ridiculous. They are trying to make it so difficult for individuals to have and easily manage rental property so larger companies have a monopoly which just increases rents even more. Once a contract of a lease is over I should have no legal obligation to force me to renew.
Nice video. Helpful, too. Looking forward to your next one.
QUESTIONS - what are the implications to non-residential leases?
this law does NOT apply to non-residential leases, but you are still required to serve notices in tenants primary language on commercial leases (as advised by our attorney).
I have had my tenant on a month-to-month lease for years and I intend to keep it that way is still legal isn't isn't it the rent is far below a market price and I'm thinking of raising the rent have not done so in 7 years do I have a restriction or can I bring it to the current market price it's a house
No restrictions on increasing rent, but the terms of the renewal offer must to "reasonable".
@@gracepmdenver Which means, the rent increase must be "reasonable" what ever that means. Good luck in an inflationary environment.
What if a tenant is on a month to month basis. Can you still terminate the lease within 30 days? Also, if a tenant was on a 12 month lease and then decided to go month to month, can you still terminate the month to month with a 30 day notice?
Any information would be greatly appreciated.
Thanks in advance.
Once a lease goes past the 12 month period, and goes month-to-month, the 90-day notice is required.
There is a carve out that if the initial lease term is less than 12 months then a full 90-day notice may not be required. You would need to refer to the bill to lookup those dates - they include a time matrix.
@@gracepmdenver thank you for your response. What if the tenant signed the lease before the bill was passed? For example, the tenant signed a 12 month lease August 1, 2023 and wants to go month to month starting August 1, 2024. Is a 90 day notice still required?
So if I do an eleven month lease with my tenants. I can avoid this nonsensical 90 termination law?
@@Brian-rs4ug i believe so. I saw on another channel that they recommend a 51 week initial lease term and a commenter said that he's going to do a 360 day lease term. Hope that helps and let me know if you hear anything otherwise.
@@MrKonscience Thank you for your informative RUclipss and respond to my question.
Get out of Colorado before it's too late. This is what happens when you allow your legislature to be filled with people who are total failures and get elected because intelligent/successful people dont want to serve.
You got to many Californians moving in. lol
In regards to lease renewal. I’m in a current 12 month lease with a 60 day limit to renew. Yet at 90 days I’m being hounded with the lease renewal and threats to end tenancy. So is it 90 days or 60 days that my signed lease stipulates? I have not refused to sign a lease renewal, I have only waited up until the 60 day renewal period as stipulated in my signed lease agreement. Please advise.
"affordable" housing just got a LOT more expensive. Why would anyone waste their time?