Rental Services, Inc. 2019 February Newsletter

The 2019 legislative session has started and depending on which state you conduct business in, there is a lot going on. Many local governments have started to introduce bills that may negatively impact the multi-family housing industry.

Colorado has introduced two bills with a third one on the way. 
Colorado House Bill 19-1118 addresses the time period to cure a lease violation. 
The current law requires a landlord to give the tenant 3 days to cure a lease violation. The most common violation is failure to pay rent. When the tenant violates the lease agreement, you post them with a 3-day notice. If they don’t pay within the 3-day time frame the eviction process is started.
HB 19-1118 would change the 3-day rule to 14 days. 
Depending on the lease agreement many landlords don’t post a 3-day notice until the 4th of the month. This puts them at a higher financial risk if this new law passes. The new time frame puts the landlord towards the end of the month before even sending the 3-day …

Oregon Senate Bill 608 Relating to Residential Tenancies (Rent Control) Introduced

80th OREGON LEGISLATIVE ASSEMBLY--2019 Regular Session
Senate Bill 608
Sponsored by Senators BURDICK, MONNES ANDERSON, Representative KOTEK (Presession filed.)
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the measure as introduced.
Prohibits landlord from terminating month-to-month tenancy without cause after 12 months of occupancy. Provides exception for certain tenancies on building or lot used by landlord as residence. Allows landlord to terminate tenancy with 90 days’ written notice and payment of one month’s rent under certain conditions. Exempts landlord managing four or fewer units from payment of one month’s rent.
Provides that fixed term tenancy becomes month-to- month tenancy upon ending date if not re-newed or terminated. Allows landlord to not renew fixed term tenancy if tenant receives three le…