Many of our podcast listeners have been requesting more details and updates on the various bills making their way through the state legislature. I'm by no means an expert on the various bills bouncing back and forth between the two houses. I asked Tim Emery from Investment Community of the Rockies (ICOR) to come on the podcast to explain what's going on. He's been actively following the bills and has attended sessions to represent landlords around Colorado (Thanks Tim for advocating for us!)
Note: The blog post is a combination of copying and pasting text from ICOR's email newsletter and the state legislature website.
Rent "Stabilization" Bill SB19-225
The text and overview of the bill is at https://leg.colorado.gov/bills/sb19-225 . If passed, this will allow cities and counties to enact rent control on private residential property. We encourage everyone to contact their legislators on this bill. You can find your Senator and Representative at https://leg.colorado.gov/find-my-legislator . It has been proven that rent control does NOT increase the supply of affordable housing. Read more about a Stanford University study on rent control in San Francisco at https://www.rhawa.org/blog/new-study-shows-rent-control-doesnt-work
Action - call and email. Be polite, but tell them you're against the bill.
HB19-1118 Amended to waive 10 day rule for Small Landlords
As you may recall, HB 19-1118 was introduced changing the time for a lease violation that is not a substantial violation from 3 to 14 days. That time period was reduced to 10 days as the bill worked its way through. ICOR worked with other trade organizations and requested that owners of a small number of single family homes be exempt from this requirement.
Yesterday, a Senate amendment passed the House reducing the cure period from 10 to 5 days for owners of 5 single family homes or less. While not signed into law yet, if the bill remains in its current status, it's a small victory for many ICOR members. https://leg.colorado.gov/bills/hb19-1118
HB19-1309 Mobile Home Park Oversight
Concerning the regulation of mobile home parks, and, in connection therewith, granting counties the power to enact ordinances for mobile home parks, extending the time to move or sell a mobile home after eviction proceedings, creating the "Mobile Home Park Act Dispute Resolution and Enforcement Program", and making an appropriation.
HB19-1170 - Residential Tenants Health and Safety Act (definition of habitability and time to respond and cure)
Concerning increasing tenant protections relating to the residential warranty of habitability.
HB19-1106 Rental Application Fees
Concerning the rental application process for prospective tenants.
HB19-1328 Landlord and Tenant Duties Regarding Bed Bugs
Concerning bed bugs in residential premises, and, in connection therewith, establishing duties for landlords and tenants in addressing the presence of bed bugs.
ICOR Podcast - https://icorockies.com/real-estate-investing-podcast/
Learn more about ICOR and their monthly meetings at https://icorockies.com