Colorado law requires that a security deposit be returned within 30 days (or 60 days if so noted in the lease) or that within 30/60 days the owner (or property manager working on behalf of the owner) send the tenant an accounting of how the security deposit was used to cover damage beyond normal property wear and tear.
If the landlord does not send the deposit or notice, tenant may request in writing that the deposit be returned within seven days. At that point, the landlord must return the deposit in full without any deductions.
If the landlord still does not return the deposit, tenant may bring a claim against the landlord and be awarded treble damages—three times the amount of the security deposit—plus attorney’s fees and costs.
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