HB 24-1057

House Bill 24-1057, which has been signed into law, bans landlords from using algorithms to set rent prices for their properties. This means that landlords can no longer rely on automated systems or data from other landlords to determine how much rent to charge tenants. Violating this rule is considered an unfair practice and could lead to penalties under Colorado’s consumer protection laws. This affects both landlords who use such technology and the tenants they lease to, ensuring more transparency in rental pricing.

Official Summary

The bill states that a landlord, may not employ or rely upon an algorithmic device in setting the amount of rent to be charged to a tenant for the occupancy of a residential premises, may not employ or rely upon an algorithmic device that uses, incorporates, or was trained with nonpublic competitor data . A violation of the prohibition is person who violates or assists another person in violating the prohibition commits an unfair or deceptive trade practice under the "Colorado Consumer Protection Act" and may be punished accordingly. (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.)

Related Legislation

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