Colorado Senate Bill 173

[Steven Norris]

Just received this update from the Colorado Association of Realtors and hopefully it is useful information. And if anyone else has any additional information regarding the bill or its impact I would love to learn more too.

Renter's Rights Bill Amended to Protect Property Owner Senate Bill 173 addresses the rights of tenants in residential lease agreements focusing on late rental payments and associated fees. 

The bill was discussed at length today on the Senate Floor where many amendments were made.

Many of the amendments came to fruition thanks to the Colorado Association of REALTORS® and our dedicated advocacy team who voiced the need to balance the relationship between the tenant and housing provider to protect housing affordability and keep new legislation consistent with existing landlord tenant laws. 

Amendments passed today:

L.020 - Exempts single-family property owners of 5 units or fewer from the bill. (Includes property that is managed by a management company and is consistent with HB20-1332 and HB19-1118.)

L.019 - Changes the grace period from 14 to 7 calendar days.

L.018/COW - Provides reciprocal relief to housing providers that must pay their mortgage and other financial obligations late due to late rental payment.

L.024 - Reinserts language that requires a tenant to show proof of earnest money up front to ensure nonpayment is not due to not having enough money.

L.023 - Requires the bill to take effect upon January 1, 2022 to allow time for housing providers and tenants to get up to speed on the new laws and changes.

L.016 - Clarifies when a defense can be raised related to proper notice.

L.014 - Reduces the minimum and maximum fine that can be charged to a housing provider that violates this bill and fails to remedy the violation in a timely manner from $500-$2,000 to $150-$1,000.L.013 - Increases the maximum fee that can be charged due to late payment from $20 to $50.

L.012 & L.025 - Reinserts language that removes requirements that would prevent a tenant from filing an appeal or warranty of habitability claim due to inability to pay to file appropriate documentation with the court.

L.011 - Requires the tenant receive a list of resources, including websites and phone numbers, to obtain civil legal aid and rental assistance upon receipt of a court order, and narrows the timeline so that a trial hearing would take place no sooner than 7 days, but no later than 10 days unless the court's docket is impacted by COVID-19.