DOG-GONE

Gravity Real Estate Management LLC takes regulation seriously. The newest regulation in Colorado is about pets.

The new law that goes into effect statewide on 1-January 2024 limits a pet deposit to $300 and limits pet rents to $35 or 1.5% of the pet owner’s rent.

The pet deposit is on top of existing security deposits. Pet deposits must be refundable.

Some opponents of the law argued that $300 is not nearly enough to cover the damage that can be caused by a pet. Think recarpeting a home or apartment.

Proponents of the new law argued that the limit on the deposit prevents pet owners from having to pay beyond their means to have a pet.

Besides affecting the deposit amount and pet rent, the new law prohibits homeowner insurance providers from denying policies based on specific dog breeds. And it stipulates that if an eviction occurs that the property owner return the pet to the tenant at the time of eviction, OR if the property owner is not present, the property owner must turn the pet over to an animal shelter or rescue.

Changes in rental laws and protections are part of the knowledge base that Gravity Real Estate Management brings to its clients. Ignorance of the law can bite. Call us for guidance.