Colorado landlords now have to give their short-term tenants 21 days’ notice before raising rent or terminating their leases that took effect last week.
Before, a lease that ran month-to-month or spanned up to six months could have been terminated with seven days’ notice from either party. A landlord could also increase rent with only a week’s notice in that span, which was one of the shortest turnarounds in the nation.
Tenants now also must provide 21 days’ notice before terminating a short-term lease.
The legislation — — passed with bipartisan backing from state Rep. Dan Pabon, D-Denver, and state Sen. Kevin Priola, R-Adams County.
Pabon said it took two years to get the legislation passed.
“In this overheated housing market, more and more people are facing rent increases and having to find short-term accommodations,” Pabon said in a written statement. “This new law will relieve some of the pressure on renters when faced with these situations, and give them more time to find an alternative if needed.”
Housing advocates say the new law provides a more reasonable amount of time for renters to find another place if they can’t afford a rent hike or if the landlord needs them out.