Colorado Laws on the Time for a Landlord to Refund a Deposit
Landlords in Colorado may require a security deposit to pay for damages to a rental unit after the tenant vacates the property. Tenants pay the security deposit when moving into the property to provide a safety net for the landlord. The security deposit may pay for unpaid rent for the property owner as well.
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Time Limits
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In Colorado, landlords must return the security deposit to the tenant within one month. Landlords may take longer if it is written in the lease. The property owner is required to send the security deposit to the tenant's last known address. Tenants should ensure the property owner has an accurate address to send the security deposit.
Notice of Damages
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While landlords may use the security deposit to pay for damages in the apartment or rental unit, he must provide the tenant with a written list of damages and the cost. If damages to the rental unit amount to less than the security deposit, the landlord must return the excess amount to the renter. Tenants must maintain a record with pictures of damages before moving into the residence to protect against unfounded claims of damage.
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Wear and Tear
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Landlords in Colorado may not use the security deposit for normal wear and tear in the rental unit. Items such as faded paint, worn carpet, worn hinges and faded curtains are not damages to the property, and the landlord cannot deduct their costs for replacement or repair from the security deposit.
Small Claims Court
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Landlords who fail to return the security deposit within 30 days or wrongfully withhold the security deposit from the tenant may be responsible for triple the amount. Tenants may sue the landlord in small claims court to recover three times the security deposit, attorney's fees and court costs from the property owner. The tenant will be required to provide evidence that damages to the property occurred before he moved into the unit.
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