Updated February 12, 2021
It’s an understatement to say 2020 was chock-full of challenges and surprises. Real estate buyers, sellers, brokers, and service providers alike adjusted and adapted in the face of a global pandemic. As the COVID-19 pandemic emerged in early 2020, our firm developed a COVID-19 Disclosure and Release Agreement bundle (the “COVID Bundle”) for real estate brokers and property managers to use while navigating the unknown. As the Colorado real estate market rolls into 2021, we have improved our COVID Bundle using lessons learned from 2020. Even with the emergence of several vaccines, businesses must remain diligent about mitigating COVID-19 liability risk. If you are interested in purchasing a COVID Bundle, please contact me with a brief description of your needs.
The 2021 COVID Bundle is designed to work alongside Colorado’s most recent COVID-19 Dial promulgated on February 12, 2021 and effective through March 15, 2021, unless extended. The dial allows for local communities to determine the severity of COVID-19 spread and operate accordingly. The Dial classifies communities as green, blue, yellow, orange, red, or purple. Each level has its own restrictions:
- Green Level, “Protect Our Neighbors,” allows businesses to operate at 50% of their pre-pandemic capacity. Critical businesses may continue to operate without capacity limits, except for critical retail, which must adhere to the 50% capacity limit. Indoor restaurants and bars may operate. Real estate open houses must follow the Indoor Event requirements, including capacity limits.
- Blue Level, “Cautious,” allows the majority of businesses to operate at 50% capacity. However, public and private gatherings remain limited. Real estate open houses must follow the Indoor Event requirements, including capacity limits.
- Yellow Level, “Concern,” allows businesses to operate largely like the Blue level, however indoor restaurants must drop capacity. Real estate open houses must follow the Indoor Event requirements, including capacity limits.
- Orange Level, “High Risk,” allows non-critical office-based businesses to continue operating at 25% of their capacity limit but are encouraged to move to remote work. Other businesses and services must also restrict their capacities. Real estate open houses must follow the Indoor Event requirements, including capacity limits.
- Red Level, “Severe Risk,” strongly encourages businesses to conduct work remotely. Restaurants are closed for in-person indoor dining but may offer curbside, takeout and delivery services. Indoor events are closed. Individual real estate showings are authorized, and open houses may operate with only one household at a time.
- Purple Level, “Extreme Risk,” vast majority of businesses are closed for in-person activities, but Critical Businesses may continue to operate. Real estate open houses are closed.
As brokers and property managers navigate this ever-evolving COVID-19 reality, they should consider implementing COVID-19-specific contractual provisions and obtaining waivers and releases to protect themselves, their businesses, and their clients. If you purchase a COVID-19-related product or clause, please contact me intermittently to ensure your version is up-to-date.