Exciting news for pet-loving renters in Colorado! As of January 1st, 2024, a new law is making it easier and more affordable to share your home with furry companions. This tenant-friendly regulation introduces a cap on pet deposits and fees, ensuring that renters won’t face excessive financial burdens when bringing pets into their lives. Let’s dive into the key highlights of these new pet-friendly regulations and how they’re creating a more inclusive and affordable rental experience for residents in Colorado.
Pet Deposit Limits
The new law puts a cap on pet deposits and fees so that renters won’t be hit with sky-high costs. Now, landlords can charge a maximum of $300 as a one-time pet deposit. You can welcome your furry friends without worrying about breaking the bank. Note: If you have multiple pets, the $300 limit applies per pet. But that’s not all – the law also sets a monthly limit of $35 for pet rent or 1.5% of the monthly rent, whichever is greater. This ensures your monthly expenses won’t unexpectedly soar when you’re living with pets.
No Insurance Differences Per Breed
The new law also stops insurance companies from treating dogs differently based on their breed. Now, insurance providers can’t say no, change things, cancel, or charge more just because of your dog’s breed. On the landlord’s side, this means their property insurance will stay the same regardless of the dog breeds occupying their home–eliminating opportunities for them to raise rents based on their tenants’ dog breed. The only exception is if your dog has a documented history of being dangerous. This is great for renters, ensuring their furry friends are treated fairly when dealing with insurance-related costs.
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For renters, these regulations mean a more predictable and budget-friendly experience. Colorado is making renting with pets fair, affordable, and enjoyable with a $300 cap on deposits and fees, a $35 monthly rent limit, and no more worries about insurance variations based on breed. Whether you’re a current tenant or searching for a new place, these laws bring a new era of fairness and inclusivity for pet owners across the state. Read the entire bill put forth by the State of Colorado here.