Landlords often find it hard to determine what goes into a lease agreement. This contract sets the foundation for your experience and that of the tenant. Therefore, you should use it to protect yourself and explain to the tenants what they must do. Let's learn more!
Whether it's a commercial or residential lease agreement, you get a signed contract between you and the prospective tenants. The document states the rules associated with living there, which include monthly rent payments, security deposits, recurring fees, and more.
Generally, a sublease is similar to a lease agreement. The tenant might decide to ask someone else to live on the property and take care of everything. Both parties agree that the sublessee must pay the rent each month for the premises. Landlords usually have to approve of the sublessee and tenants first.
What to Include
A standard residential lease agreement often includes these things:
Colorado doesn't offer rent control options, so landlords can raise the rent within the rental agreement as often as they wish. However, tenants have the right to withhold rent when the landlord fails to fix things that breach a warranty of habitability for the premises.
Generally, the tenant agrees to pay at the beginning of each month.
There's no security deposits maximum amount required for Colorado, but county laws could change. Many municipalities cap the security deposit for lease agreements of all types.
The landlord is required to return the security deposit to the tenant within one month. However, that is lowered to seventy-two hours if some hazardous condition required the person to leave.
Landlords are required to respond within 24 hours to fix any problems and must begin working within that time frame if it's an emergency. Otherwise, nonemergency repairs must be started within 96 hours.
Landlords aren't required to give notice of entry, so they may enter the premises for maintenance and repairs, showings to prospects, and emergencies. However, a 24-hour notice is recommended.
Colorado doesn't have many required disclosures to include in lease agreements, but you must follow state laws and include this one for potential tenants:
Lead-based Paint Disclosure
This disclosure applies to rental units built before 1978, and federal law states that you must disclose the risk associated with lead-based paints. The paint chips and dust could expose people. Therefore, Colorado landlords must:
- Fill out and attach a lead-based paint disclosure form with the Colorado rental lease agreement.
- Give the tenant an EPA-approved pamphlet about its dangers.
- Provide other reports and records about the hazards or presence of known lead-based paints on the premises.
These Colorado rental lease agreement disclosures aren't required by Colorado law, but they can help to reduce future conflicts between the property owner and original tenant, reducing legal liability for Colorado landlords:
- Name and Address of Landlord - This helps create lines of communication for notices and demands between the landlord and new tenant.
- Marijuana Usage - State law allows the landlord to restrict marijuana use to non-smoking methods and control where the tenant smokes so that everyone may enjoy the property.
- Move-in Checklist - The landlord should provide an itemized list of any damages to the property so that the tenant knows they are responsible for anything that happens during the lease term. A landlord can attach that to the rental application, lease, or a separate, signed document.
- Late Fees and Returned Checks - The landlord should disclose in the lease what late fees and bounced check fees they charge on a monthly basis. Colorado doesn't limit how high they can be, but it's generally safe to do about 10 percent of the monthly rent.
- Bed Bug Disclosure - If rental units have a history of bed bug infestation, the landlord should provide information about handling it on the property. This tells the tenant about their obligations and requirement to cooperate.
- Mold Disclosure - Landlords should disclose the mold status of the property in the lease, protecting against liability because of a tenant's negligence.
Many people have trouble coming up with a master lease that they can reuse over and over for each tenant. There's no need to bring licensed attorneys into the mix to ensure that each state statute is met.
DoorLoop offers property management software that lets you upload your customized Colorado rental application and Colorado commercial lease agreement within minutes, auto-filling them with your information.
Build Your Own
You can use a free form to create a contract between you and the tenant. Consider using DoorLoop now by requesting a demo. There's no credit card needed.
How long is a residential property lease in Colorado?
A Colorado residential lease can't be longer than one year. The landlord and tenant could agree to rent for longer than the year, but this must be stated within the written lease.
Is a contract to lease binding in the state of Colorado?
Yes, the contract to lease is legally binding. Once a Colorado lease is signed by the landlord and tenant, they are bound to comply with the rules therein.
Can leases automatically renew within Colorado?
Yes, a Colorado lease can automatically renew. As with other fixed-term leases, a landlord can include a clause to determine whether or not this is possible. Generally, it becomes a month-to-month lease if no one gives the notice to terminate the tenancy.