This newsletter is a compilation of news and information regarding the rental markets in Boulder and Broomfield counties and the economic status of and outlook for the area. It is issued during the first week of the month. The sources for the data include local and regional news media, association publications and seminars, and information gathered from contacts in the property management and real estate fields. We make every effort to cite all of our sources. Should we miss one please let us know so that we can correct the omission.

Banks to handle deposits faster

Starting on October 28, 2004 banks institute what is being called 'Check 21' and will be handling deposits quicker. According to the new rules, a check will clear the bank on the day of deposit. While this will eliminate the float on checks it will probably mean we will see an increased number of bounced checks until everyone gets used to the new system. There is no clear answer as to whether we will find out about bounced checks in a more timely manner.

We will be sending out letters to ALL our tenants letting them know about the change. It will be up to them to ensure their checks will clear.