We own a number of rental properties in Boulder County, Colorado. All of our leases are for one year. Currently, 60 days before a tenant's lease term expires we decide if we would like to extend an offer to the tenant to sign a lease amendment to extend her lease for an additional year. Along with the offer to extend we might also inform the tenant what her new monthly rental fee will be (e.g., perhaps $25/month higher than it was during her initial one-year lease term).
In reading some previous posts, it seemed that Colorado might require a 90-day notification period for raising rents. However, it wasn't clear if that was only for tenants on a month-to-month lease without a defined lease termination date (which is what our leases are based on).
I would certainly appreciate any insight on legal requirements surrounding notice period on raising rents in Colorado.
@Ken R. if it isn't spelled out in your lease then it is much shorter than that. This is from the Colorado.gov website regarding landlord / tenant rights. Of course I don't recommend springing an increase on someone with only 10 days notice... but you can!
With any month-to-month lease, the landlord can raise the rent, change or terminate the agreement at the end of each month, with proper written notice to the tenant. The tenant, likewise, can terminate the lease at the end of the month with proper written notice to the landlord. Proper notice for both landlord and tenant must be written and received by the other party at least ten days before the last day of the rental month. (See C.R.S. § 13-40-107). However, a written month-to-month lease may specify a longer notice period, for example, 30 days or 60 days before the end of the lease term.
I appreciate the response Teri.
You should have learned all your state landlord tenant regulations before beginning your rental business. It is not appropriate or prudent to be operating a business with out first learning all your state regulations.
Time to learn how to operate legally.
Ken, I have to agree with Thomas that this is they type of information that you might not want to get from a forum. For example, 13-40-107 changed last August so it is not 10 days, but 21. If I were a tenant and my landlord raised the rent after my notice date, I would fight it.