Bill passed to cap pet security deposits & fees
By Big Mic on June 8, 2023
Great news for renters in Colorado who are fed up with what can often be exorbitant pet deposits and fee’s when trying to rent a home with a pet.
Yesterday Colorado Governor Jared Polis signed a bill that will go into effect January 1st, 2024 that will cap pet security deposits to $300. The bill will make those deposits refundable as well and limit any pet fee to $35 or 1.5% of rent (whichever is higher)
With some facilities requiring renters to pay deposits as high as $1,500, this will offer some relief to our pet loving neighbors! However some opponents argue that capping the pet security deposits will push many landlords to not allowing any pets on their properties at all instead of risk potentially having damages that exceed the pet security deposit.