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What Is a Colorado Lease Agreement
A Colorado lease agreement is a legally binding real estate contract between the landlord or property management company and tenants who want to rent a specific piece of property. Once signed and dated by the parties, the tenant may then take legal possession of it. A Colorado lease agreement can be used for residential or commercial property.
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Sample Colorado Lease Agreement
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Related Documents
Looking for other Colorado documents?
Business
- Colorado Non-Compete Agreement
- Colorado Non-Disclosure Agreement
- Colorado Promissory Note
Personal
- Colorado Last Will and Testament
- Colorado Living Will
- Colorado Power Of Attorney
Real Estate
- Colorado Bill Of Sale
- Colorado Eviction Notice
- Colorado Month-to-Month Lease Agreement
- Colorado Quit Claim Deed
- Colorado Rental Application
- Colorado Sublease Agreement
Most Commonly Used Colorado Lease Agreements
The most commonly used Colorado lease agreements include a commercial lease, standard residential lease, month-to-month lease, and a roommate agreement. All leases must comply with Colorado state law.
While all of the most commonly used Colorado lease agreements share many of the same elements, they do have some differentiating factors. For example:
- A roommate agreement generally explains which areas are for the exclusive use of the roommate as well as which areas are considered common areas that may be used by all occupants.
- A standard residential lease agreement is generally for one year. When it terminates, it may automatically convert to a month-to-month lease or it may automatically renew to one year. Yet, both may contain a provision that requires both parties to give a 30-day notice if either plans to terminate the lease agreement instead of renewing it when it ends.
How to Write a Colorado Lease Agreement
A Colorado lease agreement must comply with Colorado law. Otherwise, it will not be enforceable. There are actually several laws that must be considered. You’ll learn more about them under later sections related to disclosures and security deposits.
Before you sign a Colorado lease agreement, read its terms. You can also have an attorney read it before you sign it.
A Colorado lease agreement needs:
- Names of the Parties - This section includes the landlord's full name or the property management company's legal business name and the full name of the tenant(s).
- Property Address - This is the full address for the leased rental property, including the city, zip code, and, if applicable, the unit or lot number.
- Term Information - This explains the type of lease agreement the parties agree to enter into. For example, a month-to-month lease or a fixed term. A fixed-term lease means that the parties agree that the tenant will hold possession of the space for a certain amount of time, usually one year. If it is a fixed lease, this section should include the date that the lease will end.
- Rental Amount - This section includes the date that the lease will begin, the amount of the monthly rent, the day of the month that rent is due, and the address where the rent may be paid.
- Late Fees - In this section, list any applicable fee that is due if the rent is not paid by a certain date.
- Security Deposit - This section documents the amount of deposit that must be paid in advance of the tenant taking control of the property. A security deposit is used to repair damages caused by the tenant.
- Initial Payment - This section records the total amount of money that the tenant must pay to move into the rental. This area should include the amount of the first month's rent, the security deposit, and the total of the two numbers added together.
- Occupants - The full name of each tenant must be listed even if they are a minor or are not signing the lease for some reason. This part of a Colorado residential lease agreement establishes who will reside in the residential unit. For commercial space leases, it designates those who have permission to use the space. If the presence of additional occupants changes the price of the rent, it should be included in this section.
- Utilities - This section explains which utilities or services a tenant does not pay.
- Parking - Here, the tenant is informed if they will receive a parking space. If a parking space is reserved and there is a designated spot, the spot should be listed in this section.
- Furnishings - This section explains to tenants what they are allowed to install (such as a washing machine or dishwasher) or what they may not install. If the tenant is not allowed to bring their own appliances, that should be designated in this section.
- Notices - This important section lists the names of both the landlord (or the property manager) and tenant along with their proper address. This contact information should be used if the parties need to send out a notice to the other party for some reason.
- Eviction - This section explains how eviction proceedings would be carried out in the event of nonpayment or breach of other lease terms.
- Additional Terms - Here, list any other obligations that the parties agreed to that haven't been included in any other section of the lease agreement.
- Signature and Date - The document should be signed and dated by all parties.
Which Disclosures Belong in a Colorado Lease Agreement?
Colorado landlord-tenant law does not require landlords to provide any disclosures. However, if a residential unit was built before 1978, federal law requires that you provide a lead-paint hazard disclosure.
What You Need to Know About Colorado Lease Agreement Deposits
In Colorado, there is no maximum security deposit set by law. If the lease doesn't specifically mention when the security deposit will be returned, it must be returned within one month. However, any mention of a return in the lease may not exceed 60 days. Additionally, if the tenant broke the lease because of a hazard condition, they must receive their money back within 72 hours.
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