ARTICLE
22 March 2024

Prohibit Algorithmic Devices Used For Rent Setting

DG
Davis Graham & Stubbs LLP

Contributor

Davis Graham & Stubbs LLP, one of the Rocky Mountain region’s preeminent law firms, serves clients nationally and internationally, with a strong focus on corporate finance and governance, mergers and acquisitions, natural resources, environmental law, real estate, and complex litigation. Our lawyers have extensive experience working with companies in the energy, mining, technology, hospitality, private equity, and asset management industries. As the exclusive member firm in Colorado for Lex Mundi, the world’s leading network of independent law firms, DGS has access to in-depth experience in 125+ countries worldwide.
This bill prohibits landlords from using or relying upon algorithmic devices that use nonpublic competitor data to determine the amount of rent to charge a residential tenant...
United States Real Estate and Construction
To print this article, all you need is to be registered or login on Mondaq.com.

HB24-1057

Summary

This bill prohibits landlords from using or relying upon algorithmic devices that use nonpublic competitor data to determine the amount of rent to charge a residential tenant and defines the use of such a device as an unfair or deceptive trade practice under the "Colorado Consumer Protection Act." It excludes from that definition any periodically published report by a trade association that receives renter data and publishes that data in an anonymous and aggregated manner and products used for establishing rent or income limits according to the affordable housing guidelines or any federal, state, or local government or any other political subdivision.

Legislative Updates

  • 2024-03-06 / Engrossed
    Introduced In Senate - Assigned to Local Government & Housing
  • 2024-03-04
    House Third Reading Passed - No Amendments
  • 2024-03-01
    House Second Reading Passed with Amendments - Committee, Floor
  • 2024-02-05
    House Second Reading Laid Over Daily - No Amendments
  • 2024-01-31
    House Committee on Transportation, Housing & Local Government Refer Amended to House Committee of the Whole

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More