As we roll into 2025, Boulder tenants may notice a small uptick in the interest rate on their security deposits. Beginning on Jan. 1, the new rate will be set at 2.92%, a figure that comes from the average one-year certificate of deposit rates from the three largest financial institutions in Boulder, based on market share data, according to the City of Boulder.
This increase isn't random but is the result of an ordinance that's been on the books for over two decades. According to Ordinance 7320, passed on Feb. 17, 2004, the rate is calculated annually using data from Dec. 16 of the preceding year, as detailed in sections 12-2-2 and 12-2-4 through 12-2-7 of the Boulder Revised Code. Tenants curious about the implications of these changes on their lease can reach out directly to their landlords or utilize resources provided by the city.
Boulder's Community Mediation and Resolution Center is one such resource, offering support on lease inquiries and tenant/landlord issues. They can be contacted at 303-441-4364. For those who prefer to self-navigate these waters, the online Landlord-Tenant Handbook can be found on Boulder’s official website, which details pertinent information regarding such matters.
University of Colorado students who are renting off-campus should also note that they have a dedicated support system. The university's Off-Campus Housing and Neighborhood Relations webpage serves as a sea of resources, specifically tailored for students navigating Boulder's rental landscape.
