HB 18-1117

House Bill 18-1117, which has been signed into law, updates Colorado's rules for self-storage facilities. It allows storage facility owners to include late fees when calculating unpaid charges and permits rental agreements to set limits on the value of items stored in a unit. Additionally, it specifies that stored property can be sold through an online auction website if there are unpaid bills. This affects both storage facility operators and their customers who might have overdue payments. Since the bill is signed, these changes are now part of Colorado's law.

Official Summary

The bill modifies the law governing the statutory lien that an owner of a self-storage facility has for the occupant's late payment of rent or other charges by: Specifically including late fees in the lien; Allowing the rental agreement to limit the aggregate value of the property that may be stored in the occupant's storage space; and Specifying that property stored in the occupant's storage space may be sold at an online auction website to satisfy the lien.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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