Quick Answer
Under C.R.S. § 38-12-103, you return the security deposit within one month after the lease ends or the tenant surrenders the premises and you accept them, whichever is later. A lease may set a longer period, but it may not exceed 60 days. If you keep any part of the deposit for a valid reason, you give the tenant a written statement listing the specific reasons and pay back the difference. Statute text last checked October 22, 2026.
Key Takeaways
- One month by default; a lease may set up to 60 days.
- Itemize in writing. List the specific reasons for each amount you keep.
- Mailing counts. Sending the statement and payment to the tenant’s last known address meets the delivery requirement.
- A missed itemization deadline matters. The statute says that missing the statement deadline ends your right to withhold any part of the deposit.
- Normal wear and tear cannot be charged to the deposit.
1. Setting the Deadline
The default is one month. If your lease sets a longer period, it must be 60 days or less. Write the period into the lease so the date is clear to everyone. Count from the later of the lease ending or the tenant surrendering the premises and your acceptance of them.
2. Permitted Deductions
The statute lists unpaid rent, abandonment, unpaid utilities, and repair or cleaning the tenant contracted for. Wear and tear from normal use is not a permitted deduction. Compare move-in and move-out photographs, and write one line per deduction with a dollar figure and a short reason.
3. The Itemized Statement
The statement lists the specific reasons for what you keep, and the payment returns the difference. Send both together to the last known address, and keep proof of mailing. The statement is the document that supports the amount you keep, so give it the same care as the refund.
4. Willful Retention
A landlord who willfully keeps a deposit in violation of the statute owes three times the wrongfully withheld amount, plus reasonable attorney fees and court costs. The tenant gives at least seven days’ notice before filing a case, and in the tenant’s case the landlord carries the burden of showing the withholding was not wrongful.
5. Waivers
A lease term or oral agreement that gives up these tenant rights is not effective under the statute, so do not rely on one.
6. A Checklist
- Record the lease end date and the date you accepted the premises.
- Put the return period, one month to 60 days, in the lease.
- Photograph the unit and compare it to the move-in record.
- Prepare the itemized statement with one line per deduction.
- Mail the statement and any refund before the deadline and keep proof.
Keeping the Move-Out File
Build one folder per tenancy with the signed lease, the move-in condition report, move-out photographs, receipts for any repair or cleaning, the itemized statement, and proof of mailing. When every document is dated and in the same place, the deposit decision is easy to explain, and the 60-day outer limit is easy to meet.
7. What This Guide Does Not Cover
This guide covers § 38-12-103. It does not cover the deposit cap in § 38-12-102.5, gas hazard vacating rules, or the court process. It states the statute and does not predict how a court will rule.
8. Questions Owners Ask
Can my lease give me 90 days? No. The statute allows a longer period than one month but not beyond 60 days.
What if I miss the itemization deadline? The statute says that missing the statement deadline ends your right to withhold any part of the deposit.
Can I deduct for repainting after a long tenancy? Normal wear and tear cannot be charged. Keep photographs and read the statute before you deduct.