As you are aware, last week Governor Polis issued Executive Order D2021-088 requiring that landlords serve a 30-day nonpayment notice for any rent default going back to March 2020. Many landlords currently have expired 10-day nonpayment notices that are ready to be filed, but for the latest Executive Order. If you are risk adverse, you should serve a new 30-day non-payment notice as soon as possible. As we determine how the various judges and jurisdictions are responding to the Executive Order, we will update our clients on the status of any eviction cases that were in process at the time the Executive Order was issued. As many have heard, the Consumer Financial Protection Bureau (“CFPB”) has decided to extend their authority into landlord/tenant law. The CFPB was intended to ensure that banks, lenders, and other financial companies treat consumers fairly. We believe this is their first foray outside of the financial world. The CFPB has passed an interim rule that appears to require additional disclosure language on eviction notices for nonpayment. In an abundance of caution, we suggest that our clients add the proposed language to their 30 day demands for payment in May 2021. The interim rule takes effect on May 3, 2021. Because Colorado will most likely have laws that are more restrictive than the CDC Agency Order, we recommend our clients use Example 2 of the Sample Disclosure Language provided by the CFPB here: https://files.consumerfinance.gov/f/documents/cfpb_debt-collection_sample_covid-19_tenant_eviction_protection_disclosure_language.pdf We recommend that the CFPB disclosure language be included on any eviction notice that includes nonpayment issues (e.g. rent, utilities, security deposit, damages, etc.). A copy of a sample 30-day nonpayment notice (compliant with Executive Order D2021-088) that includes the CFPB disclosure language can be found here: https://mcusercontent.com/988acf0cfce2504c029ccd116/files/5096d8e1-1700-45bc-8449-374a93b39715/30_day_Demand_with_CFPB_Nonpayment.doc Executive Order D2021-073, the most recent Executive Order barring late fee charges, expired 4/27/2021. We are watching to see if the Governor extends the order again and should know that within the next week. |
This information was provided by Springman, Braden, Wilson & Pontius, P.C.
4175 Harlan St. #200 | Wheat Ridge, CO 80033
sbwp-law.com
