Colo. Rev. Stat. § 38-12-903

Current through Chapter 25 of the 2021 Legislative Session
Section 38-12-903 - Rental application fee - limitations
(1) A landlord shall not charge a prospective tenant a rental application fee unless the landlord uses the entire amount of the fee to cover the landlord's costs in processing the rental application. The landlord's costs may be based on:
(a) The actual expense the landlord incurs in processing the rental application; or
(b) The average expense the landlord incurs per prospective tenant in the course of processing multiple rental applications.
(2) A landlord shall not charge a prospective tenant a rental application fee that is in a different amount than a rental application fee charged to another prospective tenant who applies to rent:
(a) The same dwelling unit; or
(b) If the landlord offers more than one dwelling unit for rent at the same time, any other dwelling unit offered by the landlord.
(3)
(a) A landlord shall provide to any prospective tenant who has paid a rental application fee either a disclosure of the landlord's anticipated expenses for which the fee will be used or an itemization of the landlord's actual expenses incurred. If a landlord charges an amount based on the average cost of processing the rental application, the landlord shall include information regarding how that average rental application fee is determined.
(b) A landlord shall provide every prospective tenant with a receipt for any application fee received. The landlord may provide a prospective tenant an electronic receipt unless the prospective tenant requests a paper receipt, in which case the landlord shall provide the prospective tenant a paper receipt.
(4) A landlord who receives a rental application fee from a prospective tenant and does not use the entire amount of the fee to cover the landlord's costs in processing the rental application shall remit to the prospective tenant the remaining amount of the fee. The landlord shall make a good-faith effort to remit such amount within twenty calendar days after processing the application.

C.R.S. § 38-12-903

Added by 2019 Ch. 129,§ 1, eff. 8/2/2019.