Colorado Delay Rental Payment Agreement Directing Payment to An Agent

State:
Multi-State
Control #:
US-OG-625
Format:
Word; 
Rich Text
Instant download

Description

This agreement provides for owners to designate an agent to receive rentals provided for in a lease. This form may be used by related parties who wish to designate one agent to handle all rental payments and make regular disbursements.

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FAQ

The Colorado Notice to Vacate could be given in the form of a 30 Day Notice to Vacate, 60 Day Notice to Vacate, or a 90 Day Notice to Vacate, depending on the circumstances. The notice period required is typically defined in the rental lease terms.

Signed into law on June 6, 2023, and effective this August, this bill restricts landlords (with some exceptions) from considering or inquiring about certain information relating to a prospective tenant's amount of income and credit history. It also places a cap on security deposits.

If a renter can't pay rent the day it is due (usually the 1st of the month), landlords have to wait at least 7 calendar days before they charge a late fee. (Calendar days means weekends and holidays count toward that 7-day minimum.) If the renter pays their rent in those 7 days, no late fee should be charged.

Colorado law now requires a landlord to wait seven days after rent becomes due and provide written notice before they may charge a late fee to residential tenants.

Substantially endangers the property of landlord, co-tenant or person living on or near premises; o Is a violent or drug-related felony; or o Is declared a public nuisance and carries a potential sentence of 180 days or more. >

Colorado landlords are not allowed to charge any late fees over $50 or 5% of the amount of past due rent (whichever is greater).

It is never legal for a landlord to evict a tenant without a court order. Self-help by a landlord is illegal in Colorado.

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Colorado Delay Rental Payment Agreement Directing Payment to An Agent