Publisher, Fran Zankowski Circulation Manager, Cal Winn EDITORIAL Editor-in-Chief, Caitlin Rockett News Editor, Will Brendza Food Editor, John Lehndorff Interns, Ben Berman, Rebecca Rommen Contributing Writers: Dave Anderson, Emma Athena, Rob Brezsny, Michael J. Casey, Shay Castle, Angela K. Evans, Mark Fearer, Jodi Hausen, Karlie Huckels, Dave Kirby, Matt Maenpaa, Sara McCrea, Rico Moore, Adam Perry, Katie Rhodes, Dan Savage, Alan Sculley, Tom Winter SALES AND MARKETING Market Development Manager, Kellie Robinson Account Executives, Matthew Fischer, Carter Ferryman Mrs. Boulder Weekly, Mari Nevar PRODUCTION Art Director, Susan France Senior Graphic Designer, Mark Goodman CIRCULATION TEAM Sue Butcher, Ken Rott, Chris Bauer BUSINESS OFFICE Bookkeeper, Regina Campanella Founder/CEO, Stewart Sallo Editor-at-Large, Joel Dyer June 30, 2022 Volume XXIX, number 42 As Boulder County's only independently owned newspaper, Boulder Weekly is dedicated to illuminating truth, advancing justice and protecting the First Amendment through ethical, no-holds-barred journalism, and thought-provoking opinion writing. Free every Thursday since 1993, the Weekly also offers the county's most comprehensive arts and entertainment coverage. Read the print version, or visit boulderweekly.com. Boulder Weekly does not accept unsolicited editorial submissions. If you're interested in writing for the paper, please send queries to: editorial@boulderweekly.com. Any materials sent to Boulder Weekly become the property of the newspaper. 690 South Lashley Lane, Boulder, CO, 80305 p 303.494.5511 f 303.494.2585 editorial@boulderweekly.com www.boulderweekly.com Boulder Weekly is published every Thursday. No portion may be reproduced in any form without written permission from the publisher. © 2022 Boulder Weekly, Inc., all rights reserved.
Interest on deposits and repairs for tenants by Mark Fearer
Returning to the evolving tenant’s movement in Boulder, my last column promised to delve further into the battle to obtain interest on deposits, and the warranty of habitability.
Interest on Deposits
Boulder Weekly welcomes your correspondence via email (letters@boulderweekly.com) or the comments section of our website at www.boulderweekly.com. Preference will be given to short letters (under 300 words) that deal with recent stories or local issues, and letters may be edited for style, length and libel. Letters should include your name, address anonymous letters or those signed with pseudonyms. Letters become the property of Boulder Weekly and will be published on our website.
I
n 1982 the Renter’s Rights Project first introduced the modest concept of getting interest on rental deposits (which includes security and damage deposits along with last month’s rent.) The city’s Human Rights Commission rejected that proposal that year—which required putting deposits into escrow accounts—after heavy lobbying by landlords. After several years of inaction on the issue by the City Council, the newly reconstituted Boulder Tenants Unin decided to start a petition drive to put it on the city ballot in
BOULDER COUNTY’S INDEPENDENT VOICE
l
1985. This is the first known instance of a tenant initiative being put to voters, which required landlords to pay tenants half the current prime rate, which at that time was 9.5% (which was later simplified to 5.5%) on their deposits. It was an expensive campaign because the landlord lobby significantly outspent BTU—but newspapers endorsed it along with City Council candidates, and even the Boulder Board of Realtors (who normally opposed most tenant proposals). It passed that year, by a significant margin. Later, the City Council changed the rate to an average that matched a one year certificate of deposit. Unless people are using the Boulder Model Lease (see Unrepentant Tenant, “Rent Control rallies and 1980s tenant battles,” June 2, 2022), which requires interest to be paid, most tenants wouldn’t know they have that right. Although the interest rates are currently much lower than in 1985, the deposits have grown in size (thanks to outrageous rents), making up for that. Interest rates have increased the last six months, and given inflation, those rates will likely continue to increase. see UNREPENTANT TENANT Page 8
JUNE 30, 2022
l
7