Get Colorado Rental Purchase Agreement Act Form

A Colorado rent to own form is a legally binding contract between a landlord and a tenant. Rent to own gives potential new homeowners a chance to try a property before they buy it.

As of October 1, 2021, Colorado adopted a grace period law. It states that Colorado landlords can't charge late rent fees until rent is seven days late. Plus, late fees are capped at $50 or 5% of the amount of past due rent, whichever is greater. To charge a late fee, landlords must disclose it in the rental agreement.

In Colorado rent increments are not controlled by the state, meaning the landlord can raise rent to any amount that they wish if they feel it is necessary ing to the rental market.

With a low property tax rate and laws that protect landlord interests, there is no doubt that Colorado is a state that favors landlords. ing to SmartAsset.com, homeowners in Colorado only pay 0.48% in property tax, making it among the five lowest rates in the country.

A Colorado rent-to-own agreement is a legally binding arrangement whereby a property owner agrees to let a tenant rent residential property for a predetermined term with the option to buy the property before the contract runs out. The document is effectively a combination of a lease agreement and a purchase agreement.