Gov. Jared Polis extended a previous executive order, banning evictions and foreclosures through the month of May.
As part of the extended order, which originally banned such actions through April, Polis also prohibited landlords and lenders from charging any late fees or penalties on missed payments.
Most property managers and owners had already been waiving late fees in most cases, says Laura Nelson, executive director of The Apartment Association of Southern Colorado. But she says the extension raises concerns for landlords who need to pay their own mortgages.
“When the moratorium is lifted, if renters have been unemployed for a length of time, they may not be able to catch up even with payment arrangements,” Nelson writes in an email.
The Apartment Association is therefore pushing for rental assistance from Congress. Nelson adds: “This should be paid directly to the housing provider to prevent the funds from going to other expenses and ensuring that the residents will not be in debt when the crisis is over.”