True" the Colorado rental agreement. In this video, we will tell you about the most noteworthy aspects of rental agreements in the state of Colorado. What is a rental agreement? A rental agreement or lease is a document that outlines the arrangement between two parties regarding a property rental. The person paying rent is called a tenant, while the owner of the property who allows the other party to use it under certain conditions is called a landlord. The parties may also be referred to as a lesser and lessee. Typically, a rental agreement lasts for 6 or 12 months with rent being paid monthly or weekly. There is one federal disclosure that applies to all lease agreements in the United States. It is called the lead disclosure, which requires the landlord to inform the tenant about any known lead paint hazards. Additionally, the landlord should provide the state-approved version of the pamphlet "Protect Your Family From Lead in Your Home." However, this requirement does not apply to all types of residential dwellings. Apart from the lead disclosure, there are no other mandatory information that the landlord should disclose in a rental agreement. However, including additional disclosures can help reduce future conflicts and legal liability. Regarding security deposits in Colorado, there is no statutory maximum for the security deposit. The landlord must return the deposit within one month after the termination of the tenancy, unless a different deadline has been agreed upon. However, the return should not exceed 60 days. If the tenant causes any damage to the premises, the landlord can utilize the deposit to pay unpaid rent and repair the damages. An itemized list of withholdings is required in such cases. If the landlord fails to mail the security deposit or the itemized list within the set period, the...
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