In 2024, Colorado’s rent increase laws provide specific guidelines that tenants should be aware of to navigate potential changes in their rental costs. Here are the key points regarding these regulations:
General Rent Increase Regulations
- Frequency of Increases: Landlords in Colorado can only raise rent once every 12 months for the same tenant, regardless of whether the lease is written or verbal.
- This rule applies to all types of tenancies, including month-to-month agreements.
- Notice Requirements:
- Landlords must provide a minimum of 60 days’ written notice before a rent increase takes effect.
- For month-to-month leases, if the increase is less than 10%, a 30-day notice suffices; however, for increases of 10% or more, the full 60-day notice is required.
- No Statewide Rent Control: Colorado does not have statewide rent control laws, meaning there are no caps on how much landlords can increase rent.
- This allows landlords significant flexibility in setting rental prices, although increases should be reasonable and reflective of market conditions.
Special Considerations
- Mobile Home Parks: Rent increases in mobile home parks must also comply with the same notice requirements and can only occur once per year. Additionally, landlords cannot raise lot rents in parks without an active license.
- Subsidized Housing: Different rules apply to subsidized housing. For instance, properties under the Low-Income Housing Tax Credit program have specific limits on rent increases, and Section 8 housing requires landlord approval for any rent hikes.
- Price Gouging Regulations: A new law effective from August 7, 2024, prohibits landlords from increasing rent by more than 10% during declared disasters. This measure aims to protect tenants from sudden and excessive rent hikes during emergencies.
Tenant Rights and Resources
Tenants who believe their rent increases do not comply with legal requirements can seek assistance from local housing authorities or tenant advocacy groups. It’s crucial for tenants to understand their lease agreements and any additional local ordinances that may provide further protections against excessive rent increases. By staying informed about these regulations, tenants can better prepare for potential changes in their rental costs and understand their rights within the Colorado rental market.
Sources:-
- https://www.steadily.com/blog/rent-increase-laws-regulations-colorado
- https://www.steadily.com/blog/rent-increase-laws-regulations-denver-co
- https://www.goodcover.com/blog/colorado-rent-increase-laws/