DENVER (CBS4)– State lawmakers will discuss rent control in Colorado as rent prices continue to skyrocket in some urban areas. Monday’s reading is the second reading in the state Senate.
The proposal is meant to cap rising rental prices.
According to the City of Denver, the average rent for a 2-bedroom apartment is nearly $1,500 with 87 percent of renters earning less than $35,000 a year.
The bill would repeal a law passed nearly 40 years ago that bans rent control.
It would also allow local governments to enforce measures to stabilize rent increases.