Real estate ownership in Colorado is booming, and while that’s great for the economy, it also means real estate development is encroaching on previously wild lands. While building disrupts animal habitat, many species are thriving in urban and...
11 Minimum Terms You Should Look for in a Colorado Residential Lease
In a Colorado residential lease agreement, a landlord and tenant agree to the terms, or rules, that the tenant must abide by during the time they use landlord’s property. Such terms may include, the amount of rent, the length of time the tenant can live in the landlord’s property (the “term of possession”), the amount of the security deposit, property maintenance responsibilities of the tenant and/or landlord, and any other rules that describe the rights and responsibilities of both the landlord and the tenant.
What are some common lease terms and problem areas? It cannot be emphasized enough that both the landlord and the tenant should completely read and understand all terms of the lease - and both parties should understand their rights and their responsibilities--- before signing the lease. A lease signed by both landlord and tenant is binding upon both landlord and tenant. The tenant does not have a “three-day right of rescission” after signing a lease.
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