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Are you renting a property in Colorado, or are you looking for a place to rent? You will probably need a lease agreement.
A Colorado lease agreement is a document that defines the rights and duties of the landlord and the tenant. It protects the landlord's right to claim the rent and the tenant's right to live in a rented property without being disturbed.
Depending on the lease type and duration, you might need different kinds of lease agreements. There are long-term leases and short-term rental agreements, as well as residential and commercial lease agreements.
Are you subletting your apartment? Check out this article to see what kind of lease agreement is best for you.
Colorado Lease Agreement Required Disclosures
When drafting the Colorado lease agreement, you need to make sure to include all the disclosures required by federal and state law.
Federal law requires landlords only to include a lead-based paint disclosure in their lease agreement. This disclosure contains information about any lead-based paint hazards at the property. It is required for any building constructed before 1978. (42 U.S. Code § 4852d)
Other than the lead-based paint disclosure, Colorado state legislation does not provide any mandatory disclosures that have to be included in your lease agreement.
Still, many landlords choose to provide some disclosures in order to limit their liability and prevent future disputes. Check out which optional disclosures you may include in the section below.
Colorado Lease Agreement Optional Disclosures
Contractual parties can also include any other disclosure that will additionally secure their rights and interests. Here are some disclosures you may include in your lease agreement.
Optional Disclosures
Asbestos disclosure. Although not a mandatory disclosure, it is good to include it in your lease agreement. It tells the tenant if there is asbestos in the building they are renting.
Bed bug disclosure. This disclosure informs the tenant if there is a history of bed bug infestation at the property. It also gives him guidelines for a bed bug infestation at the property.
Mold disclosure. This disclosure will have a mold status at the property described in detail. It will safeguard the landlord against any future mold damage claims.
Consequences of Non-Disclosure
If the landlord fails to include a lead-based paint disclosure in the lease agreement, they can be penalized up to $19,507, according to 24 CFR § 30.65.
Even disclosures that are not mandatory under federal or state laws can be a potential liability if not included in the lease agreement. However, since they mostly address health and safety hazards, if such a hazard occurs, the tenant can initiate a civil lawsuit.
Colorado Lease Agreement Security Deposits
Security Deposit Maximum
State laws don’t set the maximum cap for a security deposit. That leaves it to the landlord and the tenant to determine the fair amount and insert it in the lease agreement.
Security Deposit Return
When it comes to returning deposits, three main scenarios are regulated:
Security Deposit Return
The return date is not defined in the lease agreement. In this case, the landlord should return the deposit no later than one month after the lease is over (C.R.S. § 38-12-103)
The return date is defined in the lease agreement. The return date in this scenario should be no longer than 60 days. (C.R.S. § 38-12-103)
The lease is terminated due to a gas hazard. The deposit should be returned within 72 hours. (C.R.S. § 38-12-104)
When is Rent Due in Colorado? (Grace Period)
The rent is due on the date both the tenant and the landlord agreed upon in the lease agreement.
Colorado state law gives tenants a 7-day grace period after the rent is due. Within this period, the landlord cannot charge any late fees to the tenant. (C.R.S. § 38-12-105)
Colorado Rent Late Fees
The late fee is limited to an amount not greater than $50 or 5% of the past rent, whichever is greater. (C.R.S. § 38-12-105)
It cannot be charged if it’s not previously disclosed in the lease agreement.
On top of that, the landlord cannot start the eviction process because the late fee has not been paid.
Colorado NSF Checks
If the tenant uses the bad check to pay the rent, they will be liable to the landlord for the amount equal to the face amount of the check. They will also be obliged to pay the reasonable check processing fee, not exceeding $20. (§ 13-21-109(1)(b)(1))
Colorado Landlord’s Right to Enter
No local law or regulation in Colorado defines how much in advance the landlord must notify the tenant before visiting the leased property.
Anyway, it is advised that the landlord and the tenant include this rule in their lease agreement to protect the tenant's right to privacy. In most cases, the landlord would provide at least a 24-hour notice before visiting the property.
Colorado Lease Agreement FAQ
Yes, a lease agreement is a legally binding document in Colorado. However, to be enforceable against all parties, they must sign the lease agreement.
If the landlord and the tenant reach an oral agreement, it will become legally binding if the tenant offers to pay the rent and the landlord accepts it. However, a written lease agreement will give better protection to both parties and prevent any misunderstandings or disputes.
If you are drafting a lease agreement for a property in Colorado, you should include the following clauses:
Names, addresses, and ID numbers of the parties
Relevant details about the leased property
Details about rent amount and dynamics of payment
Disclose any late or non-refundable fees
Details about utilities
Rules for using the property
Date and place where the agreement is signed
Signature section
You can find different types of lease agreements on our website according to your specific needs.
You can choose between:
Residential or commercial lease agreement
Standard or month-to-month lease agreement
Sublease agreement
Room lease agreement
Rent-to-own lease agreement
By choosing one of our lease agreements, you will be sure you are complying with all the federal and Colorado state regulations.
After drafting your lease agreement, make sure you:
Distribute one copy of the lease agreement to each contractual party.
Make sure all the parties understand and agree to all the clauses.
Sign the lease agreement.
Inspect the property before moving in.
Sign the move-in checklist.
Exchange the rent, deposit, and property keys.