A new Colorado Bill will SEVERELY limit landlords from charging late fees on late rent.
The bill prohibits a landlord of a mobile home park or a residential premise (landlord) from:
This is a DISASTER! First, most landlords have mortgages that are due by the 15th. It is essential we receive rent by the 5th or 10th to make time to pay our mortgage.
Second, making late fees so paltry and not allowing a landlord from taking it from the next rent payment will make paying on time a non-priority for tenants. This will cause severe financial damage to Colorado landlords.
Contact your legislators and voice your concerns TODAY!
President and founder of the Colorado Landlords Association, best-selling real estate author and attorney, landlord and real estate investor with 28 years' experience.