Colorado Rental Deposits

When you vacate a rental apartment in Colorado, landlords are required by law to send your security deposit or an itemized statement of the deductions and any balance of the deposit to you within one month after the termination of the lease or after you have vacated the premises, whichever occurs last. The time period may be extended up to 60 days but this extension must be noted in the rental agreement or lease.

If the landlord does not provide you with a written statement of deductions and the balance of the deposit within the specified time period, he forfeits the right to withhold any portion of the security deposit. The landlord does still retain the right to pursue any unpaid rent, repair costs of any damage to the property, or any other bills that you might owe.

If a you do not receive the security deposit or an itemized list of deductions, or you disagree with the deductions made, you must send a "seven-day demand letter" which should state that you will sue the landlord for three times the amount of the deposit if the deposit is not returned within seven days of the receipt of the letter. The letter must be sent by certified mail. At the end of the seven days, you retain the right to sue the landlord.