On June 7, 2023, HB23-1068 was signed into law by Governor Polis. This bill provided changes to Colorado law intended to address concerns related to pet owners’ ability to find housing that allows them to keep their pets without unreasonable financial requirements.
How does this bill impact associations? Sometimes associations restrict whether owners or residents may keep pets, including potential restrictions on the type of pet, breed, or size of an animal. Additionally, some associations may require an owner or resident to pay a refundable or non-refundable pet deposit. Due to this, it is important to know that the vast majority of HB 23-1068 does not apply to Colorado associations and most will not be impacted by the newly adopted requirements.
The portion of HB 23-1068 that might apply to an association is the added §38-12-106 which specifically restricts landlords from demanding a pet security deposit in excess of $300.00 and requires such pet security deposits to be refundable. Additionally, landlords are prohibited from adding monthly “pet rent” in an amount exceeding the greater of $35.00 per month or an amount equaling 1.5% of the tenant’s monthly rent.
As the vast majority of associations do not act as landlords, HB23-1068 will not apply. However, for those associations that do rent lots or units as a landlord, such associations’ lease agreements must comply with this language.