Do I have to take possession and pay rent after terminating my lease?

Full question:

I have signed a lease and paid a deposit for the lease of a home. Eleven days before possession, I notified (by phone and email) the landlord that I will not be able to take possession of the house and would like to terminate the lease. Must I still take possession of the home and pay rent unless the property is leased to someone else? Will I be able to get my deposit back from the landlord?

• Category: Landlord Tenant
• Date: 04/07/2025
• State: Colorado

Answer:

Your right to get your security deposit back depends on the lease's terms. According to Colorado law (C.R.S. § 38-12-103), a landlord must return the full security deposit within one month after the lease ends or the tenant surrenders the property, unless the lease states a longer period (up to sixty days). Normal wear and tear cannot be charged against the deposit.

If the landlord intends to keep any part of the deposit, they must provide a written statement detailing the reasons and return any remaining amount. If the landlord fails to provide this statement in the required time, they lose the right to withhold any part of the deposit.

Additionally, the landlord may retain the deposit for reasons like nonpayment of rent or abandonment of the premises. If a landlord wrongfully withholds the deposit, they may be liable for three times the amount withheld, plus attorney fees, but you must give them at least seven days' notice before filing a legal action.

In summary, you may not have to take possession or pay rent if you properly terminated the lease, but the return of your deposit will depend on the landlord's actions and the lease terms.