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Rental Services, Inc. 2019 April Newsletter

In this month’s newsletter we will review the Fair Credit Reporting Act and how it applies to you, the client. You’ll also receive an update on a few of the legal issues discussed last month and a great resource for Colorado clients who want to make sure their voice is heard. Recently, while speaking with a private landlord, they told me they conduct their own background checks using Google and asked if that's how RSl does it. Since RSI is monitored by the credit bureaus, we are held to a higher standard when reporting information that is used in making a credit decision. Rental Services, lnc. is a Consumer Reporting Agency (CRA) and must follow set legal guidelines. As a CRA, Rental Services, lnc. must navigate federal, state and local laws when conducting a background check. The main law that impacts each report we provide, to you the client, is the Fair Credit Reporting Act (FCRA). Violations of the FCRA are enforced by the Federal Trade Commission and the Consumer Fin...
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Rental Services, Inc. 2019 May Newsletter

May is here and I have an update on a few of the legal issues we discussed last month. I thought it would be beneficial to discuss how to dispose of credit reports and other sensitive information contained in a background check.  As mentioned in last month’s newsletter, Colorado HB19-1106 has passed and will take effect August 2, 2019. RSI has received several calls from clients looking to add reference calls or run additional criminal reports so they can keep the application fees at a higher level. If you need to discuss any of these options, make sure to give us a call. Colorado HB19-1118 has passed and will go into effect once it is signed by the governor on May 12, 2019. This is the bill that changes the 3 days’ notice to a 10 days’ notice. It is recommended that you contact your attorney to review eviction time frames and make sure you have the correct legal forms. If you need an attorney referral, please visit the RSI website and use the Information Center tab. ...
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Rental Services, Inc. 2019 March Newsletter

If you are not paying attention to what’s going on with your state legislature, it’s time to wake up and get in the game. Rent Control was passed in Oregon and there is already talk about expanding it across the nation. Colorado moves closer to passing rental application reform with HB19-1106 and will impact fees and possibly time frames for criminal record usage. Recently the state of Oregon became the first in the country to implement a statewide rent control law. The new law prevents property owners from raising the annual rent more then 7%. Many groups are looking at this as a quick solution to provide affordable housing in markets all over the country. Rent control is under serious consideration by law makers all over the United States. If rent control legislation is passed everywhere it is currently being discussed nearly 1/3 of the country’s rental housing would be impacted by rent control. Advocates site California, Maryland, New York, New Jersey, and Washington D...
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