- What is a Rental Agreement in Colorado
- Types of Colorado Lease Agreements
- Colorado Lease Addendums and Disclosures
- Colorado Lease Agreement Laws
- Colorado Residential Lease Agreement Sample
- FAQs About Colorado Lease Agreement
Colorado Lease Agreement
What is a Rental Agreement in Colorado
A Colorado lease agreement is a legally binding contract between a landlord and a tenant. This is written to conform to state laws where the property is located. These allow both parties to comply with a series of set terms for a specified number of months or years.
A lease agreement should contain the following details:
How long the tenant may legally reside in the property
How much rent should be paid
Information about the security deposits necessary
When rental installments are due
Any additional costs that must be serviced by the tenant
The rules regarding the proper use of the property
Situations that constitute lease violation eviction procedures
Types of Colorado Lease Agreements
There are many types of Colorado lease agreement forms that can be used to manage and legally bind many different types of rental situations. They allow landlords to rent out various types of property they might have and for tenants to find the best kind of tenancy for their needs.
The most common types of lease agreements in Colorado include:
Standard residential lease agreements: Under a standard Colorado lease agreement both the landlord and tenant commit to a fixed set of terms that last for a series of months or years.
Lease with option to purchase (lease to own) agreements: Lease agreements with rent-to-own options are designed for tenants that wish to buy the property they are renting. This requires them to pay a sum of money each month, in addition to rent, to cover the costs of the principal.
Month-to-month rental agreements: Month-to-month Colorado lease agreements will often have similar basic terms to standard residential lease contracts. However, they differ as they can be renewed or ended on a month-by-month basis. Their terms may also be flexibly altered each month.
Commercial lease agreements: Commercial leases are provided by landlords of retail property to tenants that intend to use the real estate to run a business.
Room rental agreements: In rental properties with shared living areas a room rental agreement can be used to rent a singular bedroom.
Sublease Agreement: A Colorado sublease agreement allows tenants to reassign or ‘sublease’ the property to another individual. This requires the property landlord’s permission and must be specifically allowed in the original lease.
Colorado Lease Addendums and Disclosures
Colorado lease agreements must contain some disclosures and addendums when they are completed and signed. This is to properly inform the tenant of any health risks or potential issues with the property or details about how the property is managed that they must be aware of.
These essential addendums include the following:
Lead paint disclosure: If the rental unit is in a building constructed before 1978, the landlord or their agent must disclose whether lead paint can be found on the property and must provide safety information for any located on the premises (HUD Section 1018).
Landlord’s address disclosure: The agreement can contain a section or addendum that informs the tenant of the contact information of the main person who can be called upon for any repairs or issues with the property. This may be the landlord or someone appointed to act on their behalf.
Colorado Lease Agreement Laws
A Colorado lease agreement must be written and signed within the laws of, otherwise, it will be legally contestable and can be declared invalid and block either party from recourse if a violation is committed. These will police how you start and end the contract and control what procedures you can reasonably ask a tenant to follow.
The most important laws to consider when you are renting a property in Colorado include:
Security deposits: In Colorado there are no limits on what landlords can charge as a security deposit (CRS §§ 38-12-101 to 38-12-104). However, it’s recommended not to require more than the market rate of the value of 1 and half months’ rent from tenants. The amount must also be returned within 30 days of the moveout date if no return timetable is mentioned on the lease.
Landlord’s right to enter: Landlords in Colorado can enter the rental property without giving notice. However, as a courtesy, it’s recommended to inform tenants at least 24 hours before entering.
Colorado Residential Lease Agreement Sample
Before beginning the process of creating a residential lease agreement in Colorado it is sensible to review an example document first. Use our CO lease agreement sample below to find out more about the structure and contents of a fully-fledged rental contract.
FAQs About Colorado Lease Agreement
It is important to carefully prepare a Colorado lease agreement to suit the needs of the landlord and tenant exactly. To help demystify the process a little simply review our FAQs below to learn more about the specificities of rental contracts in Colorado.
How to Get a Lease Agreement in Colorado?
It is possible to create a Colorado lease agreement completely online. Using our residential lease agreement maker you can tailor your document for your specific needs and take advantage of professional templates and expert tips.
How to Write a CO Lease Termination Letter?
If either the landlord or tenant for any reason needs to terminate a Colorado lease agreement early, they must provide the correct amount of notice in a written CO lease termination letter.
This letter needs to contain the following information:
The name of the landlord and the tenant
The date the letter has been written and signed
The name and address of the property in question
Information explaining why the tenancy needs to be terminated early
The reason the lease is being broken
The date that the resident will vacate the property
Acknowledgment of any penalties that will be incurred
Signature of the signing party
Do I Need to Notarize my Colorado Residential Lease Agreement?
It is not necessary to notarize a Colorado residential lease agreement. However, whilst this might not be a legal requirement in Colorado state, signees are still advised to consider this step to provide further legal enforceability.