Denver to Require Long-Term Rental Licenses Under New Law
Beginning in 2024, landlords in Denver (Colorado) will be required to purchase long-term rental licenses for each of their properties under a new law unanimously approved by the Denver City Council in early May. According to the Denver Post, the new law takes full effect by 2024 and will affect around 54k properties. In addition, they say that it’s the largest overhaul of the city’s licensing department and will take a couple of years to phase in as well as requiring hundreds of thousands of dollars (of course). Indeed…
“As the council considered the new law…renters voiced concerns that requiring the licenses for an estimated 54,000 homes, condos, row houses and apartment complexes will increase their rents, while landlords complained of additional red tape that’ll impede business and lead to costly repairs.”
“The new law will also create a database of landlords and their properties, Gilmore said. This will enable city officials to track available housing stock and communicate with property owners and tenants about rental and utility assistance efforts.”
Click here to read the full article at the Denver Post.
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