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Here is a great presentation on how to make your life easier as a landlord. This was the introduced at 2010 Colorado REALTOR Rally in Denver, Colorado.

There are links to the Colorado Law regarding Security Deposit Law Section CRS 38-12-103 Return of Security Deposit. www.Michie.com

A single mom with 2 small children can’t pay the rent. What is “Fair” to do?

If you own rental properties in the past few years you have heard many sad stories like this. The recent economic down turn does not just effect the foreclosure rate. Many of our tenants are already on the financial edge due to lower savings rates, change in marital status, or illness that has forced home owners to become renters. The stories are heart breaking.

What do you do when the tenant that has runs into trouble is not so sympathetic? Maybe you get that same call from the tenant that has been late every other month, has had the police called for noise violations, and has a barking dog, but always finds a way to avoid eviction. Both tenants are in the same situation, but you don’t like one and the other pulls at your heart strings.

Under Federal Fair Housing Laws, your actions may determine if you have violated a tenant’s rights. The fair thing to do would be to give the family a little extra time and use this opportunity to pounce on the bad tenant. Finally, that feeling of “I gotcha” over the bad tenant and finalize the eviction. That sounds “Fair” to me.

The word “Fair” in Fair Housing is a misnomer. Under Federal Fair Housing, if you evict one tenant and not the other, under the same circumstances, you have violated the evicted tenant rights. Under Fair Housing you must treat all tenants equally, to be fair. The more common violation of fair housing would to give the single mom extra time and not the bad tenant. That is also a violation of fair housing laws. You did not treat them equally under the law. One or both might have a viable legal Fair Housing Claim against you.

To avoid conflicts with the law we have standardized our procedures. Rent is due on the 1^st of the month, late at 8:00am on the 4^th of the month. We post all properties on the 4^th with a 3 day demand for payment. This includes the 4^th of July. On the 8^th of the month we turn over the file to attorney for eviction. If we hear from the tenant with verbal or written request for extension, we will extend to the 15^th of the month before legal action starts. There are “NO EXCEPTIONS”. Once we start the eviction process, we will not stop or accept payment, until the court rules on our demand for possession. After that period we have the option to accept payment. Any payment must be in full. We do not accept partial rent payment after the court order.

Being fair under the laws sometimes hurts, but that is why our clients hire a professional to make the tough decisions. Stay “equal” within the Federal Fair Housing Laws. You can find more answers to tough rental decisions at www.4RentDenver.com.

Fly Fishing the Colorado River in November

Instead of trying to convince you that winter fishing is a waste of time because it is cold, the there or no size #6 dry flies and the fish don’t bite. I will just describe my day on the Colorado this past weekend with my brother from Georgia. You decide if it interests you.

My brother from Georgia came to visit us with his wife. He always likes to go Trout Fishing with me when he is here. He only fishes when he comes here and only visits 1 time per year. Needless to say he is not quite an expert at the sport, but he is trying hard.

We left Boulder about 7:30am for a 2 hour drive to Hot Sulphur Springs Colorado. We arrived at the parking lot about 10 am to suite in a steady 25 mile an hour wind. We walk into the river valley along the river among the trees. The temperature was about 45 degrees. The trees and valley protected us from the wind. I took about 15 minutes to figure out what was biting. We hooked up our 1st double of the day on Barr’s Emerger and small Rs-2′s. We worked that area for about 2 hours.

We moved up into the Williams Fork Valley after lunch. We started above the confluence to pick up a few nice fish. We worked up above the old beaver dam hole. From there it was fish after fish. The small rainbows were 14″ and largest Browns were near 20″ .

I love this time of year in the high country. The water is clear, crowds are non existant, the German Brown Trout are spawning, the Rainbow Trout are feeding on the eggs in the water and they are all trying to get fat for the winter.

Section 8 Rental Housing Vouchers: Feeding at the government trough.

I get asked about Section 8 Housing Vouchers all the time. Do we accept these from potential tenants and from landlords that have heard about the benefits?

For landlords there are some very tempting advantages that can draw them in. The number one reason is guaranteed rent payments. The 2^nd can sometimes include higher than market rents if you market the property properly to Section 8 Clients. Accepting these will increase your pool of available tenants. Some areas or properties will be 75% Section 8 potential renters.

How Section 8 works: The local county housing authority, authorized by HUD, makes monthly payment to the landlord based upon the qualification for the tenants. Some tenant vouchers will cover the full amount of rent and other will require additional funds from the tenants. There is a pre move-in inspection and annual property inspections after that. The rent shows up around the 1^st of the month. The landlord can ask for security deposit from the tenant. The lease agreement is between the tenant and the landlord. The amount of rent paid is based upon two issues; the tenant’s qualification and the property. The property amount rental value is based upon the area rents as determined by the housing authority and the number of bedrooms.

Some landlords have found a profitable niche marketing only to Section 8 vouchers holders the properties that have 4-5 bedrooms. These larger properties can garnish higher than market rents based upon the number of bedrooms from the housing authority. I have seen landlords get $1300-$1400 on a 5 bedroom house in an area that would only get $900 on the open market. That is a strong premium for the risks involved.

I have found that the advantages stop there and are not worth the risks involved. If you have any problems the costs are very high. For example, here is a list of potential problems:

This is just the tip of the iceberg. Ask any good eviction attorney to tell you few more horror stories about Section 8 cases. You will agree with us why we no longer accept Section 8 Vouchers at any of our properties. You can find more information and answers to rental questions at www.4RentDenver.com.

Rent to Own: “Rent-2-Own, $500 move you in”. That’s what the sign says.

Rent to Own, the easy way to home ownership for the borrower’s with poor credit or no money down. That is what they sellers of rent to own deals want you to believe. The little yellow road sign written in black magic marker says “Rent 2 Own, $500 moves you in”. It sure sounds easy. I can have the American Dream even though my credit has been damaged due to no fault of my own. This all sounds too good to be true; it may or may not be depending on your credit and financial status.

There are 2 basic forms of a rent 2 own. There may be others, but these are most common.

Option to purchase contract: The seller sells the renter an option to purchase the property on a set date at a set price. There is no transfer of title. The renter pays the seller money for that option to buy. If you do not close at that time then the seller keeps the option money. If you do execute the option on that date and price then you close on the property at a title company like any other real estate deal. There is very little risk except the contract option money. Options can be from $1000-$15,000 on a typical option agreement in our area. The worse the deal for the buyer the lower the cost is how that usually works. A lot of shady characters are doing these because there is very little recourse and very little legal documentation. The bandit signs on the side of the road like “We Buy Houses” guys are big on those. They don’t actually buy the house. They wrap the whole deal in an option contract.

The finacial risk is small, usually equal to a security deposit so most renters do not check these out closely. The house can go into foreclosures, other leans can be recorded or the seller may not have an actual interest in the property to execute the sale contract. The more common risk for the buyer is that they may not be able to get a loan by the strike date to execute a purchase of the property. If you cannot close on or before the date on the option, then the buyer looses the option money. Most option sellers’ will then just sell the renter another option and downward spiral continues for another cycle and more money from the renter.

Land contract or Contract for Deed or Wrapped Mortgage deal: A Land Contract may or may not have a wrapped mortgage involved, but these have been described as such. This is the oldest form of real estate transfer known. This is how MOST land transactions were done before the 30 year mortgage came along. These work a little different and are much more complicated. These are actually a transfer of title between parties. The title is held in escrow at a title company or escrow agent. It is not recorded at the county like most sales in Colorado. This is a legal sale of the property between parties that can be adjudicated in court. The cost of these usually require $10,000- $30,000 from the buyer to close the deal. The title will be recorded when the renter/buyer fulfills the obligations outlined in the contract. This usually requires a new loan and the pay off of the original contract for deed.

The problem is that the deed is not recorded. If anybody records a deed ahead of you then, they own the property not you. You have to be dealing with a very solid seller. I have done these as the seller but my finances are strong. I have the financial strength and credibility to hold the deal together or pay off any claims against the property if those arise. In the 80’s they put people in jail for these deals going wrong. There were sellers, wrapping, double wrapping and even triple wrapping these mortgage deals until the property could no longer support the transaction. The renter has very little way to verify who they are dealing with on one of these expensive deals.

None of these transactions are illegal or unethical if every body does what they promise. I have done both types of transactions described here. I rarely conduct these types of deals because I am a licensed real estate agent in Colorado. I have NEVER completed one of these transactions on behalf of a client. I was always a party to the contract. All parties have huge recourse on me personally if anything goes wrong or even appears to go wrong. A competent attorney should draw up any documents.

For the renter there is no easy fix for credit problems and there is no easy way to the American Dream. Keep your monthly expenses as low as possible, including rent, pay your debts and bills off and save for a down payment. That is the real way to the American Dream of home ownership.

You can learn more about these and other uncommon rental transaction at our web site www.4RentDenver.com

The toilet seat is cracked: where do I stand?

Tenants can make the strangest repair requests. How do you handle these issues? We categorize these into 3 areas, emergency items, convenience items and future repairs. You may not consider it an emergency, but your tenant always thinks it should be fixed, NOW.

Emergency items: are those that pose and immediate health and safety to the tenants or the property. If it does not require a call to 911, it is not an emergency. A gas or water leak inside the house is an emergency and may require a 911 call to the fire or water department.

Here is an example that your tenant may consider an emergency, but we do not. For example, the tenant that gets home after work at 6:00pm in December to a cold house. Our response is that “We will have a service tech out in the morning, please bundle up for the night.” Neither the house nor the tenants will freeze by morning. The extra cost of an after hours service call does not justify the small inconvenience caused to the tenant needing extra blankets for the night. Keep in mind the internal house temperature may play a baring on your response time. If the internal house temperature is near freezing it is an emergency. These issues shall be addressed within 8-24 hours.

Convenience issues: The light switch in the bedroom does not work; the screen door does not lock, the microwave oven or the dishwasher does not work. These are all considered convenience items that will be addressed after out emergency issues have been addressed within one week turn around is not unusual. Keep in mind that many tenants consider a non working dishwasher as an emergency. You will have to address this in your lease agreement and the angry tenant. Most tenants are reasonable about the expectations and will wait for the service tech to call.

Future repairs: Painting the exterior of the house or putting a new landscape would usually be a future scheduled maintenance. Here is a recent repair request that your tenant might consider an emergency. We had several evaporative swamp coolers go out in early September. The weather was still hot, but it was near the end of the cooling season. We dispatched our repair tech within 24 hours to determine the problem. The tech determined the trouble but had could not find repair parts that late in the season. The parts could be special ordered at a significantly higher price plus the cost of shipping. We have placed those as a future repair status. In both cases the tenant was not happy, but would have to wait till spring.

Keep in mind you that some of these repairs may be covered by state or local laws that you must follow. In Colorado we have a “Warranty of Habitability” law that may apply. In addition, the tenant is still your customer. We all live and serve our customers to stay in business. Balance your costs and proper customer service to be successful in managing your rental property. You can see our repair request form at our web site www.4RentDenver.com under “Tenant Services.

Can I raise the rent? How much?

I get this question from ALL of my owners. The answer is a function of several issues. #1, what will the market will bear. #2, how likely is your tenant to move out with a rent increase. Remember, vacancy is the greatest cost in any income property. It must be avoided at all cost.

The 1st question is easy to answer. Look for competing properties on rental web sites to see what the rent value should be for your property. Be realistic, because safe is better than aggressive. You can find vacancy rates and rental rates for most of the Denver area at our web site www.4RentDenver.com under “Landlord Resources” Page.

The 2nd question is the hardest issue to gauge. I have had properties that are in a great area in great condition and rent fast every time it hits the market. I might be more aggressive on price increases with that property. I have other properties that are always hard to rent due to condition, style, layout, or location. These I might be less aggressive on a price increase no matter what the Comparable Rental Analysis tells me.

There is a 3rd type of property. What will be the cost to owner if the tenant does move out. Here is an example. I had a property where the tenant had lived in the property for 12 years. He always paid on time and was handy around the house. However, he was a bachelor that lived like a typical bachelor. The place was a pig sty. Sorry guys, a woman can do wonders to home. In the last 6 years of the lease, I never raised the rent on him. I knew that when he moved I would have to spend $10-$15,000 in repairs and remodeling. When he finally moved out, we tore out the kitchen, 1 bath, all the carpet, new blinds, sanded the hardwood floors and even put in new windows. The cost was over $10,000. It was worth every penny. It is now my fastest renting property in the area.

I know I need to budget for long term capital improvements on a long term tenant. It will also know that I need to be careful with my rent increases in order to keep that tenant in place to prolong the expense.

What is “Normal Wear & Tear” in Colorado under Return of Tenant Security Deposits?

Under CRS 38-12-103 “No security deposit shall be retained to cover normal wear and tear.” The legislators never went on to clarify what the terms means, “Normal Wear & Tear”. There is case law throughout the state supporting various positions on the terms. The term is still left up to the judge that hears the case. Some judges tend to learn pro-tenant and others tend to lean pro-property owner. You don’t ever want to be unprepared in front of any judge.

How we prepare to defend Normal Wear & Tear. We verify all items based on age at time of damage compared to the life expectancy of the item and the cost of replacement. The age is easy to determine by the receipt that was kept for tax records when the item was purchased. You do keep receipts, correct? If we have no receipt, then we do not defend the position and refund out standing Security Deposit immediately. Then we compare the age of the item to 1 of 2 documents that will support the life expectancy of any item from fridge to flooring. “The IRS Schedule of Depreciation of Rental Property Publication 527” and/or the “National Home Builders Study of Life Expectancy of Home Components.” You can find a copy of both of these documents at our web site www.4RentDenver.com under Landlord Resource Page. As always these documents are free of charge to you.

Most judges will allow you to deduct the life that was denied by the tenant’s abuse or damage. Evidence of that abuse is via photographs or receipt from an expert in repair of the item or both. Here is a good example. If the life expectancy of an item is 5 years, we have a receipt showing it was 3 years old upon move out date and is ruined. The owner has been denied 2 years of the expected life of the item. We can charge the tenant’s security deposit for 2/5^th of the replacement value of the item. An item worth $100 with 2 out of 5 years of life expectancy left would be a charge to the tenant’s security deposit of $40.

Here is another common example we get from owners’ to charge the tenants security deposit. “The item was new when the tenant moved in 5 years ago.” We explain that the item is ruined and it was the tenants fault, but the owner has received its useful life expectancy. We cannot charge the tenant if there is no loss of useful life left in the item. The owner was not denied any value after 5 years of use. Paint and carpet is good example of this. Rental property must be painted and carpeted on a regular basis at the owner’s expense.

You can find all of these documents at our web site www.4RentDenver.com under Landlord Resource Page. As always these documents are free of charge to you. We hope you will find it a useful resource for your rental property business.

A tenant is contesting some items in my Security Deposit refund as being “normal wear and tear”.

I am not a lawyer and this is not legal advice. Please seek legal advice to confirm your specific situation. I cannot tell you what to do in any specific instance.

“Normal Wear and Tear” is not clearly defined in Colorado Law. We keep a complete photographic record of before and after for every tenancy. We keep any additional supporting evidence if there was damage. If we feel we are strong with evidence, we defend the claim. Then we let the judge decide. If we feel we are weak with evidence we return the funds. As a general rule for procedures with security deposits, our back up evidence usually is so overwhelmingly strong when keeping a security deposit or we don’t withhold any amount, period. It is not worth the risk of treble damages.

How many sleepless nights as a small landlord are worth having some one fight your fights? Consider profession property management services. See www.4RentDenver.com for more details.

Don’t call the old landlord: Do’s & Don’t of Tenant Screening

Federal Fair Housing Laws regarding rental applications require the all application be considered “equally” to be fair. As always, issues that discriminate around race, creed, color, familial status and the other 7 deadly sins of discrimination are always a concern with tenant screening.

What does Federal Fair Housing Law have to do with calling the old landlord for a landlord reference? The call can have nothing to do with the law or everything to do with discrimination depending on who you talk to.

All Realtors in Colorado are trained in the Federal Fair Housing Laws. Not all landlords are aware of the law. Many years ago we stopped using landlord verbal references as a form of tenant screening. I had called several landlords for this standard verbal reference. When I asked about the tenant these, non Realtors landlords, use expletives and racial slurs to describe the past tenants. I do not know what their motives were; maybe they did no want them to move or were angry or just uninformed of the laws. I was insulted by the comments and disregarded all information provided by those landlords. These calls created a legal quandary with these applicants I was screening. If I denied the application after talking to these landlords could it open me to a Fair Housing Claim? This gave rise to our opinion that we should NOT use landlord references at all in our screening process.

We use financial consideration ONLY when screening potential tenants. We review only the following information and we apply it equally among all applicants:

In keeping with Fair Credit Laws any applicant denied has the right to a copy of the report that we use. We provide a letter for them to contact our screening company for a copy of that report.

All of our criteria for screening and our list of restricted breeds can be found at our web site www.4RentDenver.com under the “Landlord Recourse” page.

If the tenant doesn’t pay the rent, can I remove the front door? Do’s and don’ts of evictions.

August 6, 2009 in Uncategorized

This was a real question from potential owner about the eviction process. Before I give you the answer to that question let me give you some practical experience from many years of property management in Colorado.

The whole point of the eviction process is to gain control of the property. Possession is all you can get. The judge does not collect your rent, back rent, or damages. Collections are separate issue.

The 1^st day that the rent is late you must post the property with a 3-Day Demand for rent. This basically says to pay the rent in 3 days or give up the property. No matter how legitimate the excuse or strong the promise to pay from the tenant do not delay this step. Every day that you delay on the posting delays gaining possession. You are not obligated to proceed with the eviction after the 3-Day Demand. It also let’s the tenant know that you are serious and have knowledge of your rights of eviction.

After the 4^th day we turn it over to an attorney. Even though it is a 3-Day demand you cannot include the day of the posting. It does include weekends and holidays in the 3 days. We always use an attorney. The cost of one of the major eviction attorneys is not worth risk of screwing up the court case. The judge will make you start over at the beginning with a new 3-Day Demand letter if you do it wrong.

Once the judge grants you possession for non payment of rent, the attorney will set up the sheriff service. The sheriff will serve the “Writ of Restitution”. Afterwards, you will make an appointment with the sheriff to meet you at the property. The whole process should take less than 30 days if you follow all the rules.

You can find all of the legal forms you need at our website www.4RentDenver.com, free of charge under the “Landlords Resource” page. These were prepared by an attorney.

During the eviction process you cannot deny regular maintenance or safety issues and never remove the front door.

Fly Fishing the the South Platte River in 11 Mile Canyon (7-25-09)

August 3, 2009 in Uncategorized

I had another fabulous day fishing on the river today. Eleven Mile Canyon on the South Platte is one of the most picturesque places in Colorado to fish for big fish.

The canyon entrance is near Lake George Colorado. Lake George is like many of the fishing towns through out the West. There is a liquor store, 2 fly shops, a place to eat and nothing else for miles around. There is toll both at the mouth of the canyon to pay the state to have someone in the booth. Denver Water Department maintains the road so I have no idea why the charge $5 to get in the canyon.

As you drive down the old narrow gauge railroad dirt road with the river on the side of a cliff. Be careful on the drive because it is one lane with 2 way traffic and a 30 foot drop at time. I usually drive to the catch and release area near the dam.

I like to start out at the dam in the morning. This time of year there is an amazing Trico Spinner fall in the morning about 10:00am. Today I had to contend with some arrogant fishing guide from one of those lame Orvis Shops in Colorado Springs. He and his partner along with 4 clients that couldn’t get the fly past the end of the rod tried to claim the 1^st 2miles of river. The only time I saw them catch a fish was when the guide held the rod.

A really nice Orvis Guide walking his client to where I am fishing.

I pulled a few nice fish from between theirs legs in that hole.

18" Bainbow coming to the net on a size 24 Trico dry fly

As the Trico’s start to wind down I like to work my way down stream. The Trico’s will take me in to lunch break.

I like to work my way down stream of the dam through the afternoon. The after noon hatch is a blast. It is Pale Morning Duns (PMD’s) all after noon with every big fish in the place waiting to hit whatever floats by. I picked up another dozen fish that afternoon.

The judge was keeing a close eye on my fish count and size. She was not too nervious about me.

I had a visitor keeping any eye on me for while. I just turned around there she was.

After a long ay on the water I needed a knap.

THE MOST DANGEROUS ISSUE FOR A LANDLORD, THE TIME LINES FOR SECURITY DEPOSIT REFUND IN COLORADO.

July 27, 2009 in Uncategorized

THE MOST DANGEROUS ISSUE FOR A LANDLORD, THE TIME LINES FOR SECURITY DEPOSIT REFUND IN COLORADO.

There are 2 critical dates for security deposit refund in Colorado. The 1^st is when the initial refund must be returned after the rental unit is vacated. The 2^nd critical date is the time lime for a response is the tenant challenges your withholding of the deposit.

Timeline for initial refund after the tenant vacates: Colorado Revised Statutes 38-12-103 is very clear, sort of. 38-12-1-4 states “A landlord shall, within one month after the termination of a lease or surrender and acceptance of the premises, whichever occurs last, return to the tenant the full security deposit deposited with the landlord by the tenant, unless the lease agreement specifies a longer period of time, but not to exceed sixty days.” Please note that one date is a calendar month 28-31 days and the other is 60 calendar days.

Timeline for a response to a tenant challenge to withholding security deposit: If the tenant sends you a response via email or mail response to challenge your withholding of any portion of the deposit refund. “The tenant has the obligation to give notice to the landlord of his intention to file legal proceedings a minimum of seven days prior to filing a legal action.” We assume any letter from a tenant regarding a security deposit refund as the “7 Day Notice”. We respond within 7 days to any letter or email about security deposit. We always provide invoices from outside vendors with the original written letter. If challenged we provide further back up documentation such as printed photos of before and after, postings for non compliance from outside vendors for any damages and a list of other evidence we are ready to provide, likes pet damaged carpet which we keep in a sealed plastic bag for the judge to smell if he chooses.

Penalties for failure to comply with the law to landlord: “The failure of a landlord to provide a written statement within the required time specified…shall forfeiture of all his rights to withhold any portion of the security deposit under this section …and shall render a landlord liable for treble the amount of that portion of the security deposit wrongfully withheld from the tenant, together with reasonable attorneys’ fees and court costs” This is pretty severe and is awarded by judges regularly for failure to meet these specific guidelines.

If you have done a thorough job with security deposit withholding by documentation and photo graphic evidence is supporting your position rarely will treble damages be awarded. You may loose in court, but no treble damages. If you missed your deadlines and end up in court, most judges will award treble damages if requested by the tenant or his attorney. This is the most dangerous area and penalty for the landlord. DO NOT MIS YOUR DEADLINE DATES.

Learn more about property management at www.4RentDenver.com

My landlord kept my deposit illegally

July 20, 2009 in Uncategorized

That no good landlord of mine did not refund my security deposit after my lease was over. How do I get my money back on my damage deposit?

Security deposit refund is a common complaint from many tenants in Colorado and nationwide. The number 1 complaint about landlords and property managers is poor property maintenance or repair response. The number legal action taken in landlord tenant is over security deposit refund or damage deposit return. Colorado is pretty clear and simple in the law regarding. The law is fair tyo both sides, clear to all that interpret it and has serious penalties imposed if not followed correctly. I wish more laws were written like this.

Colorado Revised Statutes 38-12-103 is primary law with a great deal of case law to support it. It states:

(1) A landlord shall, within one month after the termination of a lease or surrender and acceptance of the premises, whichever occurs last, return to the tenant the full security deposit deposited with the landlord by the tenant, unless the lease agreement specifies a longer period of time, but not to exceed sixty days. No security deposit shall be retained to cover normal wear and tear. In the event that actual cause exists for retaining any portion of the security deposit, the landlord shall provide the tenant with a written statement listing the exact reasons for the retention of any portion of the security deposit. When the statement is delivered, it shall be accompanied by payment of the difference between any sum deposited and the amount retained. The landlord is deemed to have complied with this section by mailing said statement and any payment required to the last known address of the tenant. Nothing in this section shall preclude the landlord from retaining the security deposit for nonpayment of rent, abandonment of the premises, or nonpayment of utility charges, repair work, or cleaning contracted for by the tenant.

(2) The failure of a landlord to provide a written statement within the required time specified in subsection (1) of this section shall work a forfeiture of all his rights to withhold any portion of the security deposit under this section.

Let’s break this down a bit by the numbers;

The landlord has 30 days or 60 if the lease states so.
Landlord must provide written statement
Cannot charge for “Normal Wear and Tear”
Written statement must include check or bill for amount due
If the landlord does not comply the tenant can sue for triple the amount.
List of charges
1. nonpayment of rent
2. abandonment of the premises
3. nonpayment of utility charges
4. repair work
5. cleaning

If the land lord does not do this they forfeit all rights to the funds, period
If the landlord does not comply the tenant can sue for triple the amount.

The common areas of the fights are over the terms “Normal Wear & Tear” and cost of repairs. Everything is else is pretty straight forward in the law. You can find all the documents you need at our website to make sure you manage your property in a legal way. All these article and paperwork can be found at www.4RentDenver.com. All of the paperwork is free to you to use. Remember, we are not lawyers, so contact a lawyer for your specific situation and laws that apply.

My landlord shows up any time he wants too. Is that legal

June 23, 2009 in Uncategorized
Tags: denver rental property, rentals in denver, tenant rights in colorado

Trespass By Landlord

The tenant has the right to peaceful enjoyment of the property, but the lease can modify this right. The legal term and rights granted to the tenant are the “Covenant of Quite Enjoyment.” The legal standing is as simple as it sounds. The tenant has the right to peace and quite as a foundation of a Lease Hold Estate. Unless the lease provides otherwise, the landlord does not have a right to enter the property without permission of the tenant except to demand payment of rent or to make emergency repairs. A tenant can sue a landlord for violating the tenant’s rights.

This doctrine has been expanded and interoperated by judges to include, the smell of smoke from other neighbors, load music from neighbors, noise from others in the area and harassment of any kind. The Covenant does not have to be in writing; it is implied and granted when you sign the lease.

If you feel your rights are being violated the 1^st action should be a simple letter to the landlord or management company stating their violation using the words “Covenant of Quite Enjoyment.”. If the land lord does not respond or adjust his behavior, you may need to take further legal actions. This usually will include a court asking for injective relief. In some states you may have the right to terminate the lease and move. Please be careful with this move and consult and attorney before such drastic action.

As a property manager and a licensed real estate agent in Colorado I am required to be familiar with these laws. Many independent owners are not or are uneducated about your rights. I have had tenant use this term towards our actions, but they have not been successful. I am able to reply in a clear and concise manner pointing our the areas of our lease where they granted access to the property or full definition of the law. If you landlord cannot explain his action then there may be a good chance your rights are being violated.

You do have the right to peaceful and quiet enjoyment of your rental property. If you have further question, please feel free to drop me an email at Pat@4RentDenver.com, check out our web site www.4RentDenver.com or call us at 303-252-7700.

What are my rights as a property owner in Colorado?

June 22, 2009 in Uncategorized

Property Rights in Colorado and where a lease fits in.

Mineral Property Rights: The Central Pacific Railroad own most of the Mineral Rights below ground in Eastern Colorado granted in the 1800’s.

Surface Property Rights: These are owned by the Deed Holder. This would be the owner of the property recorded by a deed in County Clerk and Recorders office in the county where the property is located.

Water Property Rights: Whole books have been written on water rights. For the terms of a lease you must understand that the Surface Property Rights owner will be held responsible for the cost of the water bill. You must have enough damage deposit to cover if the tenant falls behind.

Lease Hold Property Rights: This grant the lease holder the right to occupy the property and sever the surface use rights for a given amount of time. This is outlined by terms in a lease agreement. All lease agreements longer than 30 days must be in writing. The lease holder has the right possess the property and defend against any access. The right to access the property by the other property rights holders is only granted by those rights stated in the lease agreement. Mineral right access has additional rights not covered here. If the lease agreement is silent about access then nobody can enter the property with out permission from the tenant. I explain to my property owners, that they are not longer allowed to leave the sidewalk of the property they own without permission from the tenant.

Damage Deposit Refunds in Colorado. It is the law.

June 22, 2009 in Uncategorized

How long can a tenant make claim against a landlord for Damage Deposit Refund? CRS 38-12-108

The law is not exactly clear depending on few dates. It depends on the date of the action, the date of discovery and the court that the tenant will make a claim for damages. Tort laws states that a breach of contract action must be made within 3 years for a written contract and 2 years for oral agreements. Leases less than one month can be oral agreements, but you are crazy to do so. Personal injury claims must be made within 3 years. The statutes of limitation for claims in Small Claims Court in Colorado are 6 Years. This is all determined by the date of discovery of the breach. What if the tenant never received the damage deposit disbursement letter then discovers it several years later. When does the clock start? That is up for an argument that you do not want to loose. Under 38-12-103 of Colorado Revised Statutes states that the court can award the tenant treble damages for failure to comply.

As licensed real estate agent in Colorado we are required to keep records up to 7 years. As a company practice we have kept all records regarding damage deposit including evidence of support for as long as we have been in the property management business.

Denver vacancy rates decline on single family homes

June 8, 2009 in Uncategorized

The current rental market is improving in Denver is improving. The vacancy rate has leveled off across the Denver area. Apartment vacancy, including condos remains week. The inventory of and days on market have increased on single family homes, but the over all vacancy rate continues to drop. One of the drive forces in the Single Family Residential Home (SFR) Market is the current foreclosure in the Denver Market. Many of the home owners going through foreclosure are looking for similar life style in a rental property. These people in transition can actually find a similar property in the rental market at less cost in the rental market than they were paying on their monthly mortgage payment. This is particularly true with teaser rates and many of the adjustable rate mortgage products that were offered in the late days of the real estate bubble.

www.4RentDenver.com

12365 Huron St. #1600
Westminster, CO 80234
Phone: (303) 910-1969
Fax: (303) 672-8263
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Trespass By Landlord

www.4RentDenver.com

12365 Huron St. #1600
Westminster, CO 80234
Phone: (303) 910-1969
Fax: (303) 672-8263
View Map, Email Office