Dear Colorado MAA Members,

Last week, the Colorado Senate Committee on Local Government & Housing voted down a bill, HB23-1115, that would allow local rent control laws across the state. MBA’s Mortgage Action Alliance (MAA) issued a Call to Action in late March that urged Colorado MAA members to urge their state legislators to oppose the bill. 

The bill, which was strongly opposed by the Colorado Mortgage Lenders Association and the national MBA, would have removed Colorado’s statewide preemption of local rent control and create a patchwork of harmful and confusing local rent control laws in the state. 

• Why it matters: Research based on real-life examples, has overwhelmingly concluded that rent control decreases housing affordability and creates negative spillover to the surrounding neighborhoods. HB23-1115 would have removed incentives to develop new affordable housing units, causing undue harm to renters.
• What’s next: MBA will continue to track and respond to rent control proposals and communicate all relevant information to our members.

For more information, please contact William Kooper at (202) 557-2737 or Grant Carlson at (202) 557-2765.

Thank you for the role you played in halting action on HB23-1115!  

Remember: THE LARGER THE GROUP, THE LOUDER THE VOICE!