Do I need a license to rent my house in Colorado?
Rental property owners will now be required to have a license – the requirement goes into effect in a phasing process – multi-family rental property owners have until Jan. 1, 2023, to secure a license and single-family rental property owners have until Jan.
What are the requirements to rent a house in Colorado?
Conditional approval can be obtained if the applicant meets the following criteria:
- Credit score of 580 or higher.
- No FICO score or un-established credit.
- Income: Combined gross monthly income is at least 2.5 times the monthly rent amount.
- Employed for less than one year at current job.
Are short term rentals allowed in Colorado?
In 2020, the Colorado legislature passed a bill granting counties the authority to begin licensing short-term rentals in unincorporated areas.
How much can Landlord raise rent Colorado?
This means landlords are allowed one (and only one) rent increase per 12-month period, with NO exceptions. *Note: For specifics on how landlords are required to give notice of rent increase, please read the bill in its entirety here.
Is Colorado good for landlords?
Absolutely. The Colorado Housing Market is super strong and Colorado is one of the most desirable areas to live. So many people move here all the time so it’s a great opportunity to have a rental property.
What are landlords responsible for in Colorado?
As for the responsibilities, landlords are responsible for: Complying with all the terms of the lease agreement. Making requested repairs within a reasonable amount of time. Maintaining the peace and quiet of the property.
What is considered a short term rental in Colorado?
A short-term rental (“STR”) is usually residential property that you rent out for less than thirty days. Usually, these rentals are offered through popular websites such as VRBO and Airbnb. In Colorado, STRs are governed by state, city, and municipal laws.