Colorado Standard Residential Lease Agreement
The Colorado Standard Residential Lease Agreement is a contract between a tenant and a landlord. It allows the tenant to have private use of a property for a specified period in return for making regular payments. The legally binding document includes the terms that the parties have agreed to prior to signing it. These terms often include the amount of rent the tenant must pay, how often it must be paid, which party is responsible for utility payments, the length of the lease, and any other disclosures required by law. For example, § 38-12-801 mandates that information pertaining to the landlord or the landlord’s authorized representative is included in this type of agreement. The same law requires that the landlord provides a signed copy of the document to the tenant within seven (7) days after both parties have signed it.
Tenant Screening: Colorado Rental Application
Maximum Security Deposit: None.
Returning Security Deposits: (§ 38-12-103): The landlord has one (1) month to return a security deposit to a tenant. The only exception to this is if a different deadline is documented in the lease. In any case, the deadline for refunding the security deposit cannot exceed sixty (60) days. The landlord is not allowed to use funds from a security deposit to cover routine maintenance costs or repairs associated with the tenant’s occupancy of the dwelling. Furthermore, he or she must provide a written explanation of any deductions from the security deposit to the tenant along with any funds remaining after allowable deductions.
Landlords are required to include the disclosures below in their rental agreements. To ensure no conditions are missed, recruiting the help of a licensed realtor or real estate attorney is recommended.