Hello greetings from Colorado Springs, my name is Lance Kohler and I'm the owner and managing broker the Cornerstone Real Estate Team. Today I'd like to provide you with legislative update number three from the 2024 legislative session.
In previous videos, I provided two different updates, first video we talked about House Bill 1098 which was cause required for eviction of residential tenants. In the second video on the legislative update, I provided information on Senate Bill 094 which was safe housing for residential tenants. Each of those videos I went into some detail and particularly how it impacted or may impact property management and the management of rental properties in Colorado. We've covered both of those, bills today I just want to go through some of the other bills that passed in the 2024 legislative session and give you a brief summary of the bill and how it may impact investment properties, rental properties, property management services in general.
So other bills that passed in 2024 that may affect property management, one is House Bill 1007 and that is prohibit residential occupancy limits. What that bill does generally is it prohibits local governments from establishing occupancy limits, so in some cases in Colorado in some communities there were occupancy limits on how many people could live in a property, or how many people that were not related, or not married could live in a property. This Bill gets rid of those limits with the exception for health or safety reasons, so there may be some restrictions on the number of people that can live in one property. I'd ask you to read the bill if you think you might be impacted.
Secondly, House Bill 1091 which is fire hardened building materials in real property, and this is primarily focused on homeowners associations or HOAs and it prohibits HOAs from restricting the use of fire hardened building materials, either updating your property or in building a multi or community living.
House bill 1259 price gouging in rent declared disaster this bill addresses a declaration of disaster, either by the governor of the state or by the federal government for an area that has been impacted maybe by fire or you know extreme weather, and prohibits price gouging and they define price gouging by an increase of more than 10% in that area during the disaster declaration.
Another bill, House Bill 1318 the title is modified rental premises person with disability and this discusses who pays for reasonable accommodations if requested by a tenant, modifications to the property that would allow them to use the property given their disability.
And lastly House Bill 1152 which is accessory dwelling units, if you're here along the Front Range you've probably heard about that or seen news articles about accessory dwelling units (ADUs) that bill is passed and there are 31 areas primarily along the Front Range where you are permitted to build an ADU, and that Bill does not go into effect until 30 June of 2025 because they realized that the local governments will have to change their building codes and permit process in order to accommodate that.
So that's not all the bills that were passed in the 2024 session, but those are the ones that I believe may impact property management services, so I wanted to provide you that information. This was our legislative update number three hopefully this was good information and helpful to you, I appreciate your time thanks have a great day!