Will Colorado adopt rent control laws?

GRAND JUNCTION, Colo. (KKCO) -Colorado legislators introduced a bill they say will lower the rising rent costs statewide. In the 1980′s, Colorado lawmakers made it illegal to control rent prices. Sponsors of the bill are following in the footsteps of other states who have already passed rent control policies.

According to Representative Elizabeth Velasco, Colorado has a housing crisis.

As one of 33 states that hold anti-rent control policies, local governments cannot put a cap on rental costs. The new bill is not acting as a statewide cap. Instead, it will remove policies that restrict local governments from placing caps.

“The state is just lifting the ban so that the municipalities are able to put on their own guardrails and create the programs that work for them. I think that together with some other legislations that are coming like renter protections, zoning, and all. There’s so many housing bills coming.” Velasco says. “This will be just another tool in the toolbox for our communities to be able to implement what works for them.”

Velasco is not the only one on board. The two other sponsors are Representative Javier Mabrey and Senator Robert Rodriguez. Velasco says the measure will help stabilize communities and working-class families who are unable to find housing. As one example, Velasco says homes in Colorado Springs are over $1 million, making it difficult for new talent and young professionals to make ends meet.

The bill was introduced at the end of January and is still being considered.