Review your Tenant/Landlord Lease

Townhome+Lease+Review.jpg

Put your Ducks in a Row…

Reviewing your rental agreement would be the best first step before moving forward. Tenants have rights which may or may not affect your immediate plans. In reviewing your agreement you should be able to determine your options and map out a timeline for what you need to do and when you need to do it. 

Colorado has two types of leases. A "Periodic Tenancy" (usually referred to as a month-to-month) which is a rental agreement for a one-month period that is renewed automatically each month until terminated by either party. Proper notice for both landlord and tenant must be written and received by the other party at least ten days before the last day of the rental month. However, a written month-to-month lease may specify a longer notice period, for example, 30 or 60 days before the end of the lease term. 

If a lease is for a period of time with a definite ending date (usually specified in years), it is a "Term Tenancy" or "Definite Term" lease. When the lease expires, the tenant must either renegotiate a new lease or stay on as a month-to-month tenant, but only with the landlords express consent. Neither the landlord nor the tenant needs to give notice of termination at the end of a term lease unless the lease requires such notice.