A Colorado standard lease agreement is a legally binding contract between a landlord and tenant, defining the terms and conditions of renting a residential property.
The document includes identification details for both parties, such as full names and addresses. It specifies the complete address of the rental property and outlines the lease term, whether it’s a fixed period (e.g., one year) or a month-to-month arrangement.
Considerations on Lease Length
- The lease term is usually one year, but it can be shorter or longer based on mutual agreement. It is generally possible to have a lease of any length of time as long as the lease term is specific and agreed upon in writing by both the landlord and tenant. This means leases can be tailored to various durations as per mutual agreement.
- A new lease can be signed at the end of the term, or the tenant can choose to leave the property.
- A written lease is required if the length of tenancy is more than one year. This ensures that longer-term leases are formally documented (Colo. Rev. Stat. § 38-10-108).
- Maximum Amount ($): No state-imposed limit
- Returning to Tenant: Within one month (§ 38-12-103(1))
Rent Grace Period
There is a 7-day rent grace period in the state. (§ 38-12-105)