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2021 Colorado Code
Title 38 - Property - Real and Personal
Article 21.5 - Self-Service Storage Facility Liens
§ 38-21.5-101.5. Rental Agreements - Required Provisions
Universal Citation: CO Code § 38-21.5-101.5 (2021)
- A rental agreement must contain:
- A notice stating that all articles stored under the terms of such agreement will be sold or otherwise disposed of if no payment has been received for a continuous thirty-day period; and
- A provision directing the occupant to disclose any lienholders with an interest in property that is or will be stored in the self-service storage facility.
- If a rental agreement limits the aggregate value of the property that may be stored in the occupant's storage space, that limit is deemed to be the maximum value of the stored property.
- A rental agreement may include a reasonable late fee for each month an occupant does not pay rent in full when due. A late fee of twenty dollars or twenty percent of the monthly rental amount, whichever is greater, for each late rental payment is reasonable and does not constitute a penalty. The owner shall not collect a late fee as part of the lien unless the amount of the late fee is stated in the rental agreement or in an addendum to the rental agreement.
History. Source: L. 2018: Entire section added, (HB 18-1117), ch. 68, p. 626, § 2, effective August 8.
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