Q: Are rental late fees limited in Colorado? A: Yes. As of October 1, 2021, late fees in residential Colorado leases are limited to the greater of: (i) $50, or (ii) 5% of the past due rent payment. The changes discussed in this article were enacted in Senate Bill SB21-173: Rights in Residential Lease Agreements. … Continue Reading
Co-Author: Lauren M. Taylor[i] This summer, the Colorado General Assembly adopted new limits on the amount of retainage a property owner can withhold from contractors and subcontractors in private construction contracts. Retainage and Limits Retainage is a percentage of a contract or subcontract price withheld from a contractor by a property owner until the completion … Continue Reading
How to avoid risks of allowing a seller to remain in the property after closing.
Colorado Real Estate Brokers: If you decide to conduct a showing or open house, you should consider protecting yourself, your brokerage firm, and your clients from COVID-19-related risks.
Loan Due On Transfer The current conventional wisdom is that so long a lender is receiving payments, the lender will not call a loan in default just because the borrower conveyed title, without paying off the debt, in violation of “due-on-transfer” clauses in the mortgage. That conventional wisdom is based, however, on experiences born out … Continue Reading
Sellers Don’t Give Up Your Clout Too Soon In tight inventory markets, sellers sometimes want to kick a buyer out of the deal because, for example, the buyer’s proof of funds or loan commitment disappoints. But once a buyer has a contract, the buyer has the upper hand. The seller will have a challenge kicking … Continue Reading
Learn how the buyer is exposed to claims that the buyer has breached the contract if the buyer applies for a lower LTV loan that the one reflected in the §4 chart in the contract.
Governor Jared Polis issued Executive Order D 2020 051 (COVID-19), providing further eviction relief for tenants and mobile home owners.
This is the sixth video in our six part series on Coronavirus COVID-19 identifying an approach for a “one-size-fits-all” Coronavirus COVID-19 contract clause in Colorado. If you seek to have us provide such clauses to you as your lawyer, then please contact Andrea Webster at 303-494-3000 to schedule an appointment.
Coronavirus COVID-19 Clauses that Dovetail with the CREC System This is the fifth video in our six part series on Coronavirus COVID-19 providing solutions for managing Coronavirus COVID-19 risks in the Colorado Real Estate Commission form system. If you seek to have us provide such clauses to you as your lawyer, then please contact … Continue Reading