Full question:
My tenant has asked me to return his security deposit within 15days. Tenant vacated the rental premises 15 days back. The rental agreement does not have any specific time frame within which I should return the security deposit. In this case, within how many days should I return the security deposit to my tenant? I am a resident of Colorado.
- Category: Landlord Tenant
- Subcategory: Security Deposit
- Date:
- State: Colorado
Answer:
In Colorado, if the lease agreement does not specify a timeframe for returning the security deposit, you must return it within one month after the lease ends or the tenant surrenders the premises, whichever occurs last. This is outlined in C.R.S. 38-12-103, which states that landlords must return the full security deposit unless the lease allows for a longer period, not exceeding sixty days. Additionally, you cannot withhold any part of the deposit for normal wear and tear. If you have valid reasons to retain part of the deposit, you must provide the tenant with a written statement detailing those reasons.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.