Getting Your Safety Deposit Back
Did you know that if your landlord fails to provide you with documentation that lists legitimate reasoning for withholding your security deposit upon your move-out, you’re entitled to a full refund?
It’s State Law
Colorado law mandates that a landlord has no more than 60 days to either return some/all of a renter’s security deposit or else provide the tenant with an itemized list of justified deductions. If a landlord fails to do either of those things within the allotted time frame, they must return the amount in full to the tenant.
Why Would My Landlord Keep My Deposit?
Security deposits are paid to a landlord upon moving in to protect them financially from things like missed rent payments or tenant-caused damages to the property that are more than the typical wear and tear. If you leave the property in proper condition and you’re all paid up on your rent payments, you should get your deposit back. In Colorado, there’s no such thing as a non-refundable deposit — a landlord cannot require you to waive your right to your deposit.
What Happens If I Don’t Get My Deposit Back?
If you have not received anything from your landlord within the 60-day time frame, you can write a demand letter giving your landlord seven days to respond. After that, it’s in your rights to sue them for three times the amount of what you’re owed.
Know Your Rights
You can learn more about renters’ security deposit rights from Colorado Legal Services, including steps you can take that will help protect your deposit from the start of your lease.
Thanks to Hey Denver reader Lindsey S. for sharing this tip with us. Got a tip? Send it to our inbox 📧
