I have not seen anyone post about this yet, so I figured I would share some of the highlights after reading the 41 Page Document this weekend with the new CO Warranty of Habitability Law Updates.
I'd like to credit my property manager, @Colin Smith, for updating me and the other owners very promptly and providing a few highlights before diving into the document.
I am going to share 5 updates that caught my eye that I feel will impact a lot, if not all investors in CO.
1. Every lease starting 1/1/2025 to have boldface lettering in 12 point font stating the following:
EVERY TENANT IS ENTITLED TO SAFE AND HEALTHY HOUSING UNDER COLORADO'S WARRANTY OF HABITABILITY AND THAT A LANDLORD IS PROHIBITED BY LAW FROM RETALIATING AGAINST A TENANT IN ANY MANNER FOR REPORTING UNSAFE CONDITIONS IN THE TENANT'S RESIDENTIAL PREMISES, REQUESTING REPAIRS, OR SEEKING TO ENJOY THE TENANT'S RIGHT TO SAFE AND HEALTHY HOUSING.
2. The definition of Appliance has been expanded to include any device provided to the tenant to cool the home, to include permanent or portable air conditioning units, swamp coolers etc.
This means if a window air conditioning unit or portable air conditioner was left in the home by the prior tenant, and you do not want to be responsible for maintaining or replacing it, it must be removed from the property prior to showing the unit for lease.
3. A property is considered Uninhabitable if "A condition that materially interferes with the tenant's life, health, or safety."
Life, health, and safety can be extremely broad in its definition. One of the most common tenant request is a maintenance problem that affects their XYZ health condition
4. Remedial Action must be started within 24 or 72 hours depending on the situation and repairs must be completed within a reasonable period of time.
5. If a property is considered uninhabitable, the Landlord must provide the tenant a hotel at no cost to the tenant (this much is a preexisting requirement).
The hotel must have at least the same number of beds as there are beds used in the tenant's dwelling. If a tenant requires hotel accommodations for more than 48 hours, the hotel room must include a refrigerator with a freezer and a range stove or oven OR provide each tenant a per diem for daily meals and incidentals equal to the CO state employee per diem for intrastate travel as established by the department of personnel. Per Diem must be provided for every 24 hour period to include the initial period if it is expected to be longer than 48 hours. The hotel must be within 5 miles of the tenants dwelling unless the tenants agree otherwise.
These updates do not come as a shock coming after the CO Landlord Law - For Cause Eviction Policy updated the week prior, but a lot of these updates will certainly impact property managers and self managing landlords that have condition concerns on their properties. Another big note is that all of us will need to update our leases coming after 1/1/2025, though it is a very subtle update.
What are your thoughts on the new updates?
Are the new updates benefits for all parties, or are you frustrated with the outcome?
