Colorado Landlords: Understanding the New Lease Renewal Requirements

The Importance of Offering Lease Renewals

Colorado has recently enacted new laws that significantly impact landlords’ rights and responsibilities regarding lease renewals. One of the most crucial changes is the mandatory requirement for landlords to offer lease renewals to their tenants at the end of each lease term. This means that unless certain exceptions apply, landlords must provide tenants with the opportunity to renew their lease.

Timeline for Offering Renewals

To ensure compliance with the new laws, landlords must adhere to specific timelines:

• 90-Day Notice: Landlords must provide tenants with at least 90 days’ notice before the end of the current lease term. This notice should inform tenants of their right to renew the lease and outline any changes to the lease terms or rent.

Exceptions to Lease Renewal

While landlords are generally obligated to offer lease renewals, there are a few exceptions:

• Substantial Repairs or Renovations: If repairs or renovations are necessary and will take more than 30 days to complete, the landlord may not be able to renew the lease.
• Demolition or Conversion: If the landlord plans to demolish the property or convert it to a non-residential use.
• Landlord or Family Member Occupancy: If the landlord or a close family member intends to occupy the property.
• Sale of Property: If the property is sold.
• Tenant Refusal to Sign New Lease: If the tenant refuses to sign a new lease with reasonable terms.
• Section 13-40-104(1)(d): In addition to the above exceptions, Colorado law also allows landlords to refuse to renew a lease if the tenant has violated the lease agreement or applicable law. This includes, but is not limited to, failure to pay rent, causing damage to the property, or engaging in illegal activity.

Why Choose Dakota Property Management?

Given the significant changes to lease renewal laws in Colorado, it’s more important than ever for landlords to find high-quality tenants who will respect their property and adhere to lease terms. At Dakota Property Management, we specialize in tenant screening and selection. Our rigorous process includes:

• Background Checks: We verify applicants’ rental history, credit reports, and criminal records.
• Income Verification: We confirm applicants’ income to ensure they can afford the rent.
• Reference Checks: We contact previous landlords and employers for references.

By partnering with Dakota Property Management, you can rest assured that your rental property will be occupied by reliable and responsible tenants. This will not only help you avoid costly tenant turnover but also increase your chances of successful lease renewals in the future.

Contact us today to learn more about our comprehensive property management services.