Rent Payments Remain High in Colorado at 98%
Rent Payments Remain High in Colorado at 98%
Reopening Economy Offers Hope as Employees and Employers Begin to Recover From Pandemic Crisis
Colorado’s rent collection rate was 98% as of March 27, 2021, only 0.6% lower than rent collections from the previous year, with a 98.6% rate recorded in March 2020, according to data analytics firm RealPage
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“A 98% collection rate in March is a strong indicator of residents’ growing confidence with the economy,” said Mark Williams, executive vice president of the Colorado Apartment Association (CAA). “Considering Colorado’s Property Owner Preservation (POP) program had been closed for the majority of the month, a high number of rental payments shows CAA members are continuing to find ways to keep people housed as Colorado begins to ease COVID restrictions, disseminate vaccines and lift closures. We expect the housing market to continue to recover as Coloradans can return to work and
$385 million in Colorado housing assistance available, but payments delayed
The state said they had more requests for assistance in January 2021 than they had in all of 2020. Author: Katie Eastman Updated: 10:32 PM MST February 16, 2021
COLORADO, USA The money from the latest federal relief package for housing assistance will be available in Colorado this week, according to the state Department of Local Affairs (DOLA.)
Colorado will receive more than $385 million, with more than $137 million of that divided into portions for individual counties.
While there won t be a lapse in assistance from programs like Property Owner Preservation (POP), or the Emergency Housing Assistance Program (EHAP), there is a delay in getting the money out to people approved to receive it.
Some of the largest landlords in Aspen have elected to increase the rent of hundreds of local residents this year, and many of those renters are suffering economically due to the COVID-19 crisis.
At the Centennial rental apartment complex, where there are 148 units, rents were increased as much as 3% for some renters, which is nearly a $650 annual increase.
However, Andrew Held, president and chief operating officer of Birge & Held, which acquired Centennial last March, said the average increase amounts to $24 a month.
Centennial’s rental increase formula is tied to the Denver Consumer Price Index, and was done in compliance with the existing rental restriction agreement and ultimately required by Birge & Held’s lender underwriting, according to Held.
Louise Jeavons at her Castle Rock townhome on Thursday, Jan. 21, 2021.
Theresa DeVries has lived in her Lakewood apartment for six years and has no plans to move anytime soon. At least, she hopes she won’t.
DeVries has an autoimmune disease that already made it difficult to work before the pandemic. Over the past year, she’s only left home a handful of times, to avoid getting COVID-19.
Making rent has become a constant worry for DeVries. She lost her disability benefits in late 2019 after receiving them for several years and had to wait a full year to reapply. So she hasn’t had any income through the pandemic. But so far, she said her landlord has been pretty understanding.
Eviction levels could be ‘catastrophic’ in Durango if freeze is not extended
Durango, Colorado Fri 77% chance of precipitation
United Way rental assistance almost doubles this year By Emily Hayes Special to the Herald
Tuesday, Dec. 22, 2020 2:25 PM Updated: Tuesday, Dec. 22, 2020 10:08 PM United Way of Southwest Colorado, which offers rent assistance, has nearly doubled the amount they gave to help with people’s bills this year. Associated Press file
Eviction levels could be ‘catastrophic’ in Durango if freeze is not extended United Way of Southwest Colorado, which offers rent assistance, has nearly doubled the amount they gave to help with people’s bills this year.