If you own or are considering investing in Colorado real estate, you NEED to know how the eviction process works in Colorado!
One of the least popular aspects of owning rental property is having to evict tenants. There are some pretty severe penalties if you do it incorrectly so having a strong process in place is VITAL!
That having been said, evictions are fairly simple in CO. The key is to having certain elements in place:
- documents that are correct
- proper notice
- paper trail
- great law firm
All of these elements need to be in play to accomplish a successful Colorado eviction, BUT the real answer to how to avoid evictions is vetting your tenants correctly in the first place. Just remember, even with the best tenants bad things can happen in their lives that may force you to evict them.
Timelines for CO evictions: the process, from start to finish, can be as little as 23 days as long as 35 days (time during which you are unlikely to be collecting rent).
Documentation: your lease needs to be Colorado friendly, meaning that it has had to stand up in court and that the judge not find things that were unfair to the tenant. Some example of things that can trip you up in the eviction process are aggressive fees, high late fees, partial rents accepted, among other myriad variables.
If you are not fluent in the finding and evicting of tenants (as well as all the maintenance issues that go along with owning Colorado rental properties), the best solution may be to hire a Colorado Property Management company like Denver Realty and Rentals. Because of economies of scale, a property manager SHOULD have all of these elements in place which will make owning your rentals a pleasure.
If you are not currently working with a property management company and have questions about how the eviction process works in Colorado, please give us a call today! 303-452-5853