The Colorado Apartment Association has also been raising funds to assist tenants who fall behind on rent. Renters can apply for that help through the Resident Relief Foundation.
What can landlords do?
Landlords and other property owners may be able to seek forbearance from their mortgage lender. If the lender agrees, the landlord can delay their monthly mortgage payments. For federally backed loans including those affiliated with the VA, USDA and HUD the deadline to apply is June 30. There is no current deadline to ask for forbearance on mortgages backed by Fannie Mae or Freddie Mac. Here’s how to tell if your loan is federally backed.
The Colorado Apartment Association reported the state s rent collection rate was 96.7 percent as of April 27, 0.5 percent lower than rent collections from the previous year, with a 96.2 percent rate recorded in April 2020, according to data analytics firm RealPage. Â
The state has outperformed national rates since tracking rental payments began in April 2020, according to a release from the CAA. According to the National Multifamily Housing Councilâs (NMHC) Rent Payment Tracker, 95% of apartment households in the United States paid rent in the month of April, 1.7 percentage points below Coloradoâs rent collection rate, the release said.
âA 96.7% collection rate in April continues to show us that Colorado residents are able to receive rental assistance, work with their rental housing providers and pay their rent, therefore, the system is working,â Mark Williams, executive vice president of the Colorado Apartment Association, said in the release. â
The new landlord requirement will be the largest licensing program in Denver. Author: Caroline Gregor (9News) Updated: 10:18 PM MDT May 3, 2021
DENVER A bill that will create the largest licensing program in Denver passed in a unanimous vote at a city council meeting Monday night.
Rental property owners will now be required to have a license – the requirement goes into effect in a phasing process – multi-family rental property owners have until Jan. 1, 2023, to secure a license and single-family rental property owners have until Jan. 1, 2024.
Denver already requires short-term rental property owners to be licensed, but the city council president wanted to expand that to all landlords in the city.
In hopes of getting a handle on the size and makeup of this city s rental market and also raising the floor for dwelling requirements, Denver City Council has enacted a new landlord licensing system as part of a Healthy Residental Rentals for All program. This is a basic responsibility for a city the size and depth of Denver, that we know what our rental stack is and it meets basic habitation rules, Councilmember Jamie Torres said during the May 3 council meeting, before her colleagues unanimously approved the proposal.
The ordinance, championed by council President Stacie Gilmore, sets minimum standards that residential landlords will have to meet in Denver in order to receive a license to rent out a property. The standards include appliances being in good working condition and free of leaks ; landlords must also ensure that all dwelling units within a residential rental property contain a functioning smoke detector, carbon monoxide detector, and fire extinguisher.