All Forum Posts by: Ken Thom

Thanks for the response Brett and I'm doing that this morning.

Does anyone have a Colorado law reference that details the landlord's financial liabilities if a rental property becomes uninhabitable due to something outside of the normal Landlord or tenant's control (i.e. natural or human caused  disaster, system failure like sewer or city water breaks etc.?). Specifically, is the landlord financially responsible for securing another residence for the tenant and assuming all housing rent & relocation costs until the landlord's rental house is once again considered in a habitable state? With some of the latest news stories for apartment complex fires etc., it doesn't seem so, but...

I also know there's a legal option to let the tenant break the lease without penalty and move somewhere else, but they may not want to depending on the situation.

I do have a somewhat vague, but contradictory clause that waives my liability for all uninhabitability claims in the lease. However, it also says "except for those included in state habitability requirement laws" which unfortunately overlap. For example, the plumbing isn't working if there a city sewage system issue that impact the premises or a tornado blows through and takes the walls down. I also have a "high recommendation" for them to secure a "Renter's insurance" policy stated in the lease which should cover them, but I don't require them to have it. 

Thanks in advance

Does anyone know of a good CPA resource that has a background in RE investing in the Denver/Parker area? 

Greetings,

Thanks to everyone for all the quick insights. I was told after posting this that in CO, it's a standard requirement on a standard form used by any licensed RE agent to disclose the intent of the purchase to the seller.   Thanks again though for the feedback, its much appreciated!

Hi Nathan, 

Thanks for the response back! 

Greetings, 

CO newbie jumping into SFR investing while working a FT job. Do I have to inform the seller that I intend to use the property as a rental property when submitting a purchase offer for it? Thanks in advance for any insight!