Colorado housing and borrowing

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

For purposes of these provisions, a dwelling includes a dwelling unit that is a structure or part of a structure that is used as a home, residence, or sleeping place by a tenant. The act also requires that an officer executing a writ of restitution inspect the premises for pet animals and give any pet animal found to the tenant of the premises if the tenant is present at the time the writ is executed. If a tenant is not present, the officer must contact a local authority in charge of animal control to take custody of any pet animal. The landlord shall provide the local animal control authority with access to the premises to allow the pet animals to be removed or secured and with the name and contact information for the tenant and shall leave contact information for the tenant as to where the pet animal has been taken by posting notice in a visible place at the premises. The act provides that no pet animal shall be removed from the premises during the execution of a writ and left unattended on public or private property. The act also limits the amount of an additional security deposit a landlord can receive from a prospective or current tenant as a condition of permitting the tenant's pet animal to reside at the residential premises to a refundable $300. Additionally, a landlord is prohibited from demanding or receiving additional rent from a tenant as a condition of permitting the tenant's pet animal to reside at the residential premises in an amount that exceeds $35 per month or 1.5% per month of the tenant's monthly rent, whichever is greater. The act also excludes pet animals from the categories of a tenant's personal property that a person who rents furnished or unfurnished rooms or apartments may place a lien on for unpaid board, lodging, or rent. APPROVED by Governor June 7, 2023 EFFECTIVE January 1, 2024 NOTE: This act was passed without a safety clause. (Note: This summary applies to this bill as enacted.)

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

The bill establishes requirements for landlords, unit owners, and associations governing common interest communities (association) for billing a tenant for utility service. A landlord, a unit owner, or an association may individually bill a tenant using a submeter or bill a tenant through a ratio utility billing system, which is a system that allocates utility service costs among individual tenants based on a unit's square footage, occupancy, or other physical characteristics. Starting on January 1, 2027, all new residential construction must install individual submeters for each individual unit to measure water consumption for each unit. A tenant's utility bill for water utility service must be calculated based on the individual submeter reading. For existing residential properties and other types of utility service other than water service, the landlord, unit owner, or association may use a ratio utility billing system if they meet certain requirements. A landlord, a unit owner, or an association shall disclose to a tenant in the tenant's rental agreement the method by which the tenant's utility bills will be calculated. If a landlord, a unit owner, or an association uses a ratio utility billing system, they must deduct at least 10% of the total utility service bill before allocating individual costs to tenants in order to account for utility service to common areas of a residential premises. If a landlord, a unit owner, or an association is found in violation of the provisions of the bill, the aggrieved tenant may file a civil action in court and, if the tenant prevails, recover actual damages from utility bill overages, additional damages in an amount not to exceed 25% of the utility bill overages, and any attorney fees or court costs. (Note: This summary applies to this bill as introduced.)

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

Current law requires a local government or a tribal government desiring to receive funding from the statewide affordable housing fund to have filed with the division of housing of the department of local affairs (division) a commitment specifying how, within a 3-year cycle, affordable housing units within the local or tribal government's territorial boundaries will be increased by 3% each year over the baseline number of affordable housing units (baseline number). The baseline number resets every 3 years for the next cycle. To be eligible for funding from the statewide affordable housing fund, a local or tribal government is required to file a commitment with the division and achieve the 3% increase over the baseline number each year during the 3-year cycle. The act changes the requirements for the 3-year cycle beginning on January 1, 2027, and each 3-year cycle thereafter. A local government desiring to receive funding from the statewide affordable housing fund is no longer required to increase affordable housing units by 3% above the baseline each year, but is instead required to meet the target increase number of affordable housing units (target increase number).

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

A qualifying property is real property that contains no more than 5 acres of land and is owned by: A school district; A state college or university; A board of cooperative services; A housing authority; A local or regional transit district or a regional transportation authority serving one or more counties; A nonprofit organization with a demonstrated history of providing affordable housing; or A nonprofit organization that has entered into an agreement with another nonprofit organization with a demonstrated history of providing affordable housing, provided that the agreement requires the nonprofit organization with a demonstrated history of providing affordable housing to develop a residential development on the property. If a subject jurisdiction requests, as part of an initial development application, that a nonprofit organization with a demonstrated history of providing affordable housing provide documentation that the nonprofit meets required criteria, the nonprofit organization shall provide the documentation. A subject jurisdiction is not required to allow a residential development on a qualifying property if the subject jurisdiction implements a transferable development rights program on the qualifying property and if the transferable development rights program includes a policy for affordable resident housing that is restricted in ownership and occupancy in perpetuity.

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

The act allows a board of county commissioners and the governing body of a municipality to sell and dispose of property owned by the county or municipality, as applicable, to provide for affordable housing and allows a municipality to enter into a long-term rental or lease agreement for the development of affordable housing. The act allows for the approval of a mutijurisdictional housing authority at a biennial local election instead of only during a general election or an election held on the first Tuesday in November of an odd-numbered year. The ballot question about establishing the authority may be combined with a question about a tax, impact fee, multiple-fiscal year debt, or other financial obligation. The act allows a board of county commissioners to use ad valorem tax revenue for housing authorities, housing programs, and workforce housing. The act entitles an entity subject to income tax to which a middle-income housing tax credit is transferred by a governmental entity or quasi-governmental entity to claim the credit without owning an interest in a qualified project. The sale and use of construction materials by contractors is exempt from taxation if the materials are used by the state in its governmental capacity only. The act provides that 'governmental capacity' includes the construction of workforce housing projects undertaken by counties. (Note: This summary applies to this bill as enacted.)

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

For multifamily rental properties that are existing affordable housing consisting of not less than five units, a local government has a right of first refusal to make a matched offer for the purchase of such property, subject to the local government's commitment to using the property as long-term affordable housing. Existing affordable housing is housing that is subject to one or more restricted use covenants or similar recorded agreements to ensure affordability consistent with affordable housing financial assistance requirements. The act requires the seller of such property to give notice to the local government and to the Colorado housing and finance authority at least 2 years before the final expiration of the last remaining affordability restriction on the property of the date of such expiration, a second notice not less than 6 months before the final expiration of the last remaining affordability restriction, and additional notice when the seller takes certain actions as a precursor to selling the property. Sharing information provided by the seller in certain notices is subject to execution of a nondisclosure agreement. Upon receiving the third notice indicating an intent to sell the property or of a potential sale of the property, the local government has 14 calendar days to preserve its right of first refusal and an additional 30 calendar days to make an offer and must agree to close on the property within 60 calendar days of the acceptance of the local government's offer; except that, if the seller has received an entirely cash offer from a third-party buyer, then the local government must agree to close within the same time period as is set forth in the third-party buyer's offer. If the price as listed in the seller's notice is reduced by 5% or more or if the required terms and conditions of an acceptable offer that has been communicated to the local government materially change, the seller must provide notice of the change within 7 days and the local government may exercise or re-exercise its right of first refusal.

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

The right to the purchase of the property by the local government is effective on and after August 7, 2023 until August 1, 2028, is subject to the local government's commitment to using the property as long-term affordable housing, and, if the property is mixed-use, applies only to the residential portion of the property. The local government may assign its right of first refusal to a housing authority that is within the local government's jurisdiction, to a regional housing authority, or to the Colorado housing and finance authority subject to the limitation that the assignee make the same commitment to using the property as long-term affordable housing. The act requires notices to be given by the seller to the local government and by the local government to the seller and to residents of the property. Upon receiving notice of intent to sell or of a potential sale of property, the local government has 7 calendar days to preserve its right of first refusal and an additional 30 calendar days to make an offer and must agree to close on the property within 60 calendar days if practicable but within not more than 90 calendar days of the execution of an agreement for the sale and purchase of the qualifying property; except that there are certain circumstances that may allow these periods to be tolled. Prior to the sale of a property, the seller is required to execute and record an affidavit in the real property records of the county in which the property is located certifying that either the rights and property interests of the local government have expired or been released or waived or that the local government or its assignee is the purchaser of the property. The act allows certain sales of property to be exempt from the right of first refusal and the requirements established by the act for the right of first refusal.

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

Income tax - affordable housing tax credit - increase in aggregate amount of tax credits that may be allocated annually. Currently, under the affordable housing tax credit, during each calendar year of the period beginning in 2015 and ending in 2024 the Colorado housing and finance authority (CHFA) may allocate tax credits in an aggregate amount up to $5 million annually. The act increases the annual aggregate cap to $10 million for the years beginning on January 1, 2020, and ending on December 31, 2024. (Note: This summary applies to this bill as enacted.)

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

The act allows the division of housing within the department of local affairs to use the housing development grant fund for rental assistance, tenancy support service programs, and awarding grants and loans for the rental, acquisition, or renovation of underutilized hotels, underutilized motels, and other underutilized properties to provide noncongregate sheltering or affordable housing for people experiencing homelessness. The act expands those who are eligible to benefit from the rental assistance and tenancy support programs to include individuals experiencing homelessness. The act transfers $30 million from the affordable housing and home ownership cash fund to the housing development grant fund for the funding of rental assistance and tenancy support programs related to the rental, acquisition, or renovation of underutilized hotels, underutilized motels, and other underutilized properties, and the awarding of grants and loans for the rental, acquisition, or renovation of underutilized hotels, underutilized motels, and other underutilized properties. The act also transfers $15 million from the general fund to the affordable housing and home ownership cash fund. Additionally, the act requires the department of local affairs, during its annual report to the assigned committee of reference, to report on the rental and tenancy support service programs provided by the division of housing related to the rental, acquisition, or renovation of underutilized hotels, underutilized motels, and other underutilized properties and the grants and loans awarded by the division for the rental, acquisition, or renovation of underutilized hotels, underutilized motels, and other underutilized properties. Finally, the act further expands the permissible use of the housing development grant fund to allow the awarding of grants to nonprofit organizations for the issuance of direct assistance to individuals who are currently experiencing financial need and are not eligible for certain other types of assistance.

Gross rent includes contract rent and tenant-paid utilities. Rental protections, assistance, and housing supply concern components of rental-market conditions; they do not set Colorado’s median rent. This relationship does not establish causation. Actions after the fact’s measurement period cannot explain its earlier value.

Retained Colorado evidence context: Median gross rent. This record’s connection to the topic does not establish an effect on the measured result.

As it relates to unlawful detention of real property, the act expands current exceptions and protections for tenants who are victims of domestic violence and domestic abuse to include victims of unlawful sexual behavior and stalking (victim-survivor). If domestic violence or domestic abuse was the cause of an alleged unlawful detention of real property, current law requires the tenant to document the domestic violence or domestic abuse through a police report or a valid civil or emergency protection order (required documentation). The act expands the required documentation to include a valid criminal protection order, a self-attestation affidavit or a letter signed by a qualified third party from whom the tenant sought assistance. If a tenant has been alleged to have committed unlawful detention of real property due to nonpayment or late payment of rent and the tenant has provided the landlord with the required documentation, the act requires the landlord to offer the tenant a repayment plan no later than 3 business days after serving a demand for unpaid rent or no later than 3 business days after receiving the required documentation. Within 7 days after receipt of the repayment plan, the act requires the tenant to accept the landlord's repayment plan or propose an alternative. If a landlord has written or actual notice that a tenant is a victim-survivor, the act requires the landlord to make all reasonable efforts to perfect service through personal service to the tenant. The act requires the court to suppress, or continue suppressing, any related court records upon receiving the victim-survivor's motion or petition to suppress the record, the required documentation, and an assertion that public access to the records poses a risk to the defendant's safety or the safety of a family member of the defendant's household. The act makes changes to certain court procedures as the procedures relate to victim-survivors.