ICOR Legislative Update

This legislature has been busy! As an industry, it’s important that we pay attention and educate our legislators on how these changes impact what we do. Often times, the bills do more harm than good. A simple call or email to your legislator goes a long way. Your voice gets multiplied when they hear many people saying the same thing.
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**You can find your Senator and Representative HERE **
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HB19-1118 Amended to waive 10 day rule for Small Landlords
 
As you may recall, HB 19-1118 was introduced changing the time for a lease violation that is not a substantial violation from 3 to 14 days.  That time period was reduced to 10 days as the bill worked its way through.  ICOR worked with other trade organizations and requested that owners of a small number of single family homes be exempt from this requirement.
 
A Senate amendment passed the House reducing the cure period from 10 to 5 days for owners of 5 single family homes or less.  While not signed into law yet, if the bill remains in its current status, it’s a small victory for many ICOR members.
 
Rent “Stabilization” bill on hold for now
  
The Denver Post reports that SB19-225 that would have repealed the ban on local governments enacting rent control is effectively dead for this session.  The bill was laid over by Senate Majority Leader Steve Fenberg (D-Boulder). This bill made it through the State House and a Senate Committee before being “killed.” But only for this year, because the bill’s sponsor, Senator Julie Gonzalez (D-Denver), has promised to bring the rent control bill back next year.  You can read the Denver Post story here
The text and overview of the bill is here.  If passed, this will allow cities and counties to enact rent control on private residential property.  We encourage everyone to contact their legislators on this bill.   It has been proven that rent control does NOT increase the supply of affordable housing.  Read more here about a Stanford University study on rent control in San Francisco.
Kudos to ICOR and the Apartment Association for educating and testifying on this bill. Most importantly, remember that savvy investors will adapt to change.
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To learn more about how rent control distorts the market see this video: 
Why Rent Control Hurts Renters
From the Denver Post Editorial Board, April 26, 2019
“Colorado lawmakers should pitch [this bill] out the closest window. Senate Bill 225 would do away with a long-standing prohibition on rent control policies across the state. In other words, it’d open up the flood-gates for more progressive cities to place caps on rent. For decades, economists have decried rent-control as a failed economic policy that has left housing conditions worse off in the places it has been implemented. There are better ways to address the high cost of housing in certain Colorado communities. We suggest lawmakers instead focus on passing House Bill 1228 which would make an extra $150 million available to developers over the next four years who build affordable housing.”
An just when you thought they couldn’t do more….
 Landlord and Tenant Duties Regarding Bed Bugs
 
Apparently, dogs are the best detectors of bed bugs. Canine Scent Detection could become law in Colorado.  HB19-1328 was introduced last week. It requires a landlord to, within 96 hours of notification, have the home inspected for bed bugs by a “Qualified Inspector” (a.k.a. the guy with a bed bug sniffing dog) and mitigate the home within another 5 days – all at the landlord’s expense, of course. 
The following bills are also making their way into law, click on the links to view:
 
HB19-1309 Mobile Home Park Oversight
HB19-1170 Residential Tenants Health and Safety Act (definition of habitability and time to respond and cure)
HB19-1106 Rental Application Fees
These bills are coming down the pike, so do what you can to add your input, whether it be a plea to “Vote NO!” or a suggestion on how to make the bill more common sense. Our legislators need to hear from us! And, continue to support ICOR with a membership because they are doing the heavy lifting on our behalf.

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