HB 26-1224

House Bill 26-1224, titled "Protections for Mobile Home Park Residents," aims to protect tenants living in mobile home parks by setting clear rules for landlords. The bill stops landlords from raising rents temporarily and requires them to provide detailed information to residents if they plan to sell the park. This includes financial details like purchase price, terms of sale, and maintenance records. It also ensures that buyers and sellers act fairly during transactions. Governor Jared Polis has signed this bill into law, meaning it is now official state policy and landlords must follow these new rules to protect their residents.

Official Summary

The bill establishes and clarifies financial protections for mobile home park residents. A landlord of a mobile home park is required to notify residents that the landlord is temporarily prohibited from increasing rent.     Under current law, a landlord is required to send notice to residents when the landlord intends to sell the mobile home park. The bill clarifies what information must be included in the notice that the landlord sends to residents of the park. The notice must include financial and maintenance information related to the rental and operation of the mobile home park and information related to the buyer's offer to purchase the mobile home park. The notice provided to residents and home owners in the park must include:      A description of the property being sold;The price, terms, and conditions of an acceptable offer to sell the park;Terms or conditions which, if not met, would be sufficient grounds for a landlord to reject an offer from a group of home owners to purchase the park; andA statement that the landlord must provide additional information and documentation to a home owner upon request by the home owner, including:The basis of the purchase price, such as aggregate rental data, rent projections, and recent appraisals of the property;Disclosure of the age of major infrastructure in the mobile home park;Documentation of any infrastructure inspections, maintenance, and repair services from the previous 3 years;The most up-to-date rent roll and any documentation related to rents, charges, outstanding balances, and the vacancy rate; andThe operating expenses and income for the park from the previous 3 years.     The bill requires the landlord and any potential buyer to conduct the sale of the mobile home park at arms-length and in good faith. The bill establishes certain parameters related to the registration fee that must be paid by a landlord of a mobile home park and limits the amount that the landlord may charge each resident to cover the registration fee at $17.(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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