Tenants Rights When Landlord Sells Property in Colorado

If you’re a tired landlord leaving Colorado, you’re not alone.

Recent data found that Colorado now only attracts 0.8% of movers, unlike in its glory years. What’s worse, between 2021 and 2023, the state has been seeing a mass exodus of 239,200 to 246,177 people.

In short, leaving Colorado is slowly becoming the norm. However, as a landlord, you can’t simply pack up and leave, especially if your rental property still has tenants.

Before you make your move, you’ll need two things — an understanding of tenants’ rights in Denver, Colorado, and a cash buyer who will buy your home fast.

We’re here to give you both.

Learn more about tenants’ rights in Denver, Colorado, and who to go to when you need to sell your home fast.

What Are Tenants’ Rights in Denver, Colorado?

Before selling your home and moving out of state, there are certain tenant rights you need to be aware of:

The Right to a 30 to 90-Day Notice Before Lease Termination

As tenants, the occupants of your property have a right to be informed of any changes to your tenant-landlord relationship. Among the changes you must keep your tenants informed about is your decision to sell your rental property.

According to Denver’s rental property laws, you have 30 to 90 days to inform your tenants that you’re terminating their lease due to a property sale.

In other words, you must tell your tenants in writing of your decision to terminate the lease agreement 30 to 90 days after you decide to sell your rental property.

The Right To Continue a Lease Under a Different Property Owner

Once you’ve sold your property, your tenants can exercise their rights to continue renting it. The only time your property’s tenants must leave is when the new owner provides due notice of selling the property or terminating the lease agreement for due cause.

The New Landlord Must give Security Deposits.

Even after you’ve sold your rental property, your tenants are still entitled to receive their security deposits. The new landlord or property owner must give the tenants back their deposits after they move out.

Other Considerations

Besides tenants’ rights in Denver, Colorado, there are other things you must consider before your rental property sale. These are critical to your pre-sale decision-making, and without knowing them, you might incur unnecessary costs and further delays.

Closing Costs

One of the first things to be aware of is closing costs. In Colorado, closing sales can eat up to 0.7% of your rental property’s sale value. This may not seem like a lot, but you’ll soon find that the costs amount to thousands of dollars.

Realtor Commissions

In Colorado, you may have to pay your realtor 2.8% in commission fees. Once again, this seemingly small percentage can easily be thousands of dollars, especially if your rental property has a high sale value.

Repair Costs

Are you leasing a property that’s also in need of repairs? If you are, prepare for some concerning news.

Repairs are necessary before listing your rental property, especially if you want to profit more from your sale. Unfortunately, repairs can easily cost up to $6,000 and eat into your potential profits.

If repairs (and other costs) are keeping you from selling your rental property with confidence, you’ll have to sell your property without a realtor.

That’s where we come in.

Let’s Get Started

At ClearSale, we buy houses in Denver, Colorado, fast and for cash. Not only can we give you the best value for your home, but because we buy homes as-is, we can close your rental property’s sale as soon as possible.

It doesn’t matter if your property has sustained mold damage or has been trashed by your tenants. We’ll buy it from you fast and for a value you can be happy with.

Get started now and get a fast, free, and no-obligation cash offer today.

Find Out How Much Your House Is Worth With a Free Cash Offer

In Colorado, getting an appraisal on your property can cost you $800 to $950. Those can be steep amounts, especially considering the other fees you must pay.

Luckily, you can find out how much we’d be willing to pay you for free.

All you need to do is reach out, give us some information about your property, and receive a fast, no-obligation cash offer within 24 hours.

Find out how much we’d be willing to pay you by getting a free cash offer today.

Sell It to Us for Cash Quickly

Accepting our quick and competitive cash offer is the first step to a quick rental property sale.

Once you accept, you’ll reap the following benefits you wouldn’t experience in a traditional home sale:

• A Hassle-Free Sale: By selling to a direct buyer like us, you won’t have to organize a house showing or list your property on an MLS (major listing service).
• Your Property’s Sale Guaranteed: When you accept our cash offer, you can bet the sale is guaranteed. We won’t back out at the last minute, ensuring you can leave your landlord duties easily.
• No Repairs Necessary: Are repairs, code violations, and extensive mold or water damage delaying your sale? We’ll buy your rental property as-is so that you can move out and move on.

Read Our Reviews

Our cash offers have helped countless home sellers and rental property owners move out and move on. However, you don’t have to take our word for it.

Check out our reviews and see what satisfied sellers have to say about our competitive cash offers.