Introduction
The colorado residential lease agreement is a document that contains an agreement between a tenant and a landlord for the purpose of renting out a residential estate. The contract comprises the time of the agreement, the amount of rent to be paid out, and the mandate of the tenant during their period of occupancy of the property.
Lead-Based Paint Disclosure
The lead-based paint disclosure is applicable to any unit that was constructed before 1978. In the United States, there is a federal law that dictates that landlords disclose the risks that are resulted from lead-based [paints. The law requires the landlords or property managers of colorado to;
- Fill out and issue a lead-based paint disclosure form together with the colorado residential lease agreement.
- Give an EPA-approved pamphlet that contains the dangers of lead-based paint to the tenants.
- Give any valid information or reports concerning the risks of any known lead-based paint incidences in the property.
Optional Disclosure and Addendums
The following disclosures and addendums are not inclusive of the Colorado Law in the residential lease agreements. However, they are important in minimizing future conflicts between tenants and landlords. They are;
- Landlord Name and Address -The Colorado landlords are supposed to give their contact information to their tenants so as to ease communication between them.
- The use of Marijuana - Information on where marijuana can be used and where it can’t be used is important so as to prevent the non-smoking tenants.
- Move-in checklist -landlords should provide an itemized list of damages to the property before a tenant occupies the house so they can be aware of the penalties they will attract once they damage anything during their lease period.
- Late and Returned check fees - landlords should make known to the tenant about any late fees or returned fees before they charge them.
- Arrangement of shared utilities - The landlord should disclose to the tenants any shared utility and how they are shared and also let them understand how each tenant’s bill is calculated. This gives the tenants a clear overview of their monthly dues.
- Bed Bug Disclosure - It is important for the landlord to disclose the status of a bed bug in a property in case it has a history of infestation and also provides them with information on how they would handle them in the future if they invaded them.
- Asbestos Disclosure - For any property that was built before 1981, it is important for the landlord to disclose any knowledge they have about the existence of asbestos within the premises before.
- Mold Disclosure -It is important to disclose the current mold status of a property to a tenant in the lease. This will prevent the future liability of mold damages because of the tenant’s negligence during the lease period.
Security Deposits
The colorado residential lease agreement does not set the limit of the amount that the landlord or property manager can charge their tenants.
Once the tenant vacates, the landlord should refund the security deposit within 30 days unless stated otherwise in the colorado residential lease agreement. Where stated otherwise, and the period is made longer, the period for reimbursement should not exceed 60 days. If a tenant decides to terminate the colorado residential lease agreement due to risks, threats or poor condition of the property, the landlord then has to refund the deposit within 72 hours.
The landlord can retain the deposit and use it for reasons like; nonpayment of rent, if tenants abandon the house or if they fail to pay utilities, repair work, or cleaning that has been done for them.
Duties of a Tenants
There are different obligations for tenants according to the colorado residential lease agreement;
- Not to inconvenience or disturb their neighbors in their houses
- Make sure the sanitary condition of the houses is good by decluttering as often as possible
- Follow the colorado residential lease agreement as far as trash disposing of is concerned and also according to their state/county/town law
- Observe all the rules of constructions that relate to their safety and health
- Use the facilities, amenities, appliances, and electrical units safety for them and the other tenants
- Advise the landlord of anything that threatens their safety
Rent Payment
The colorado lease agreement has not set the amount of money a colorado landlord can ask from their tenants. The tenant has a responsibility to pay their rent within the agreed time failure to which might attract a penalty.
Conclusion
The commercial lease agreement colorado and the colorado residential lease agreement does not allow landlords to increase or decrease rent in discrimination. They should also not reduce their services to the tenants based on a tenant’s good faith complaint to the landlord or government agency alleging the property. Such conditions go against the habitability of the property.
