Colorado Provision Allocation Risks and Setting Forth Insurance Obligations of Both the Landlord and the Tenant

State:
Multi-State
Control #:
US-OL25023
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Word; 
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Description

This office lease provision states that the parties desire to allocate certain risks of personal injury, bodily injury or property damage, and risks of loss of real or personal property by reason of fire, explosion or other casualty, and to provide for the responsibility for insuring those risks permitted by law.

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FAQ

Colorado statute defines normal wear and tear as ?deterioration which occurs, based upon the use for which the rental unit is intended, without negligence, carelessness, accident, or abuse of the premises or equipment or chattels by the tenant or members of his household, or their invitees or guests.? Unfortunately, ...

While renters insurance is not required by law in Colorado, some landlords may require it for you to live in their building. It's generally a good idea to have at least some form of coverage as your landlord's insurance is not liable for any damage to your personal property.

The rule of subrogation known as the ?Sutton Rule? states that a tenant and landlord are automatically considered ?co-insureds? under a fire insurance policy as a matter of law and, therefore, the insurer of the landlord who pays for the fire damage caused by the negligence of a tenant may not sue the tenant in ...

Duty to mitigate damages is a contract concept that simply means that the party who did not breach the contract cannot take advantage of the breach. This duty protects a breaching party from unfair liability. This duty also prevents recovery of any damages that could have been reasonably avoided.

A landlord must prove the amount of the damage to the apartment/house and that it was caused by you or your friends. A landlord cannot keep the security deposit and make you prove that you should get it back.

Under Colorado law, a landlord has a responsibility to repair the rental property during the lease term under the following circumstances: The lease contains a specific agreement that specifies that the landlord is responsible for repairing or maintaining the rental A residential rental is uninhabitable or unfit for ...

If you're able to re-rent the unit to a replacement tenant quickly, the tenant would only be liable for the period the unit was vacant. This is known as the landlord's duty to ?mitigate damages.?

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Colorado Provision Allocation Risks and Setting Forth Insurance Obligations of Both the Landlord and the Tenant