A residential lease is one person loaning a property to another. People are motivated to loan a property when they know they can get it back quickly. The process to get a property back when someone doesn’t voluntarily return it or stop paying for it is currently between two and four months (depending on the county and fact pattern). Any policy that increases the time it takes to get a loaned property back increases the cost of borrowing the property and increases housing costs.
If a tenant is evicted in Colorado, he or she is allotted a ten-day grace period before being removed from a property. Certain members of the state legislature would like to increase this grace period to thirty days. However, the extra amount of time some legislators are proposing poses risks, including increased risk of a landlord losing his or her property. (Not 100% certain about what the 2020 eviction bills are going to look like, so this one might need special attention)
We hope Colorado residents never have to experience an eviction. It is a challenging experience for families and for rental housing providers. Colorado state law identifies legal cause of eviction as the tenant failing to fulfill rent or other monetary payments, violating their lease, or committing what is deemed a serious or violent act. It is your responsibility as a renter to fully understand what behavior or actions as a tenant and inappropriate uses of your rental unit serve as grounds for eviction. Therefore, it is important to have a grasp on how the eviction process takes place at your rental property. Below we have highlighted the important details to simplify the process for you.