Lurker here for years, 24 doors across 8 properties all LTR in Colorado mountains. Colorado is evolving very fast with some new laws such as the 'Just Cause Eviction' - HB-1098 effective now. Can't say I'm a fan and see this as frame work for rent control which is likely next. It's getting harder to want to be a landlord in this state.
Here is link to direct bill: https://leg.colorado.gov/sites/default/files/2024a_1098_sign...
Basically now you need 90 days notice for non-renewals with specific reasons so I wanted to hear how other investors are changing leases to take into account this new bill. We focus on year leases and sometimes allow existing long term tenants to do shorter renewals if they're nearing the end of tenancy and moving or what not. We use a 30 day notice clause where tenants give renewal decisions 30 days before lease expiration. With new law I feel there are flaws with our lease structure with the 30 day renewal period. On page 10 of the above bill it says if tenants refuse to sign a new lease 90 day notice is required for a Just Cause Eviction. So.... are you asking your tenants to renew 90 days out and starting Just Cause ? I think this will not be popular with some tenants as they aren't planning that far ahead? How are others thinking about this and structuring their leases?
Feels good to make an account and join the conversation,
Mike
