Balancing Tenant Protections with Landlord Viability

8/10/2023 —  Marla Fernandez, a seasoned paralegal and experience mediator Perspective:

The recent implementation of new tenant protections in Colorado reflects the ongoing efforts to address housing challenges faced by many residents. While the intentions behind these laws are to foster fairness and accessibility, it’s crucial to consider the potential unintended consequences that may impact both tenants and landlords.

HB23-1099, which allows renters to reuse rental applications across different landlords, aims to streamline the application process and reduce fees. While this may seem advantageous to tenants, it’s important to recognize that landlords may incur costs when processing applications and conducting background checks. Striking a balance between reducing fees for renters and ensuring landlords can manage their administrative expenses is essential.

HB23-1095, which regulates lease agreements, certainly seeks to protect tenant rights. However, it’s vital to acknowledge that landlords also have responsibilities and financial obligations. Prohibiting certain provisions in lease agreements may limit landlords’ ability to manage risks associated with property management. While we support tenant rights, it’s essential to avoid overburdening landlords and inadvertently discouraging property investment.

SB23-184’s objective of setting income requirements is noble, yet it’s important to recognize that different regions in Colorado have varying economic dynamics. Mandating income limits without accounting for local economic conditions might inadvertently hinder the viability of rental property investments. Moreover, limiting the use of credit and rental history information could potentially expose landlords to undue financial risks.

While tenant protection laws are necessary, it’s equally crucial to safeguard the interests of landlords who contribute to housing availability. Overly restrictive regulations could discourage property owners from renting, thereby exacerbating the housing crisis. Collaborative solutions that address both tenant needs and landlord viability are essential for a sustainable housing market.

As we navigate these new laws, it’s important for lawmakers to engage in an ongoing dialogue with all stakeholders to ensure that Colorado’s housing landscape remains balanced, fair, and supportive of both tenants and landlords alike.