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  1. #1
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    Oct 2013
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    Default Does a Security Deposit Cover Unpaid Rent

    My question involves landlord-tenant law in the State of: Colorado

    Does a security deposit cover unpaid rent if the lease is broken early? In our lease it states it's non-refundable and should cover any damages or any other defaults. The security deposit is more than the amount of rent owed. Thanks.

  2. #2
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Quote Quoting Srrme
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    Does a security deposit cover unpaid rent if the lease is broken early?
    Yes.

    I can't think of any states where that isn't true and I've studied the landlord tenant laws of every state over the last 11 years that I've been volunteering on legal websites.

    You can read the Colorado statute at:

    http://www.tenant.net/Other_Areas/Co...crs/index.html

    Quote Quoting Srrme
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    In our lease it states it's non-refundable and should cover any damages or any other defaults.
    "Any other defaults" applies to breaching the lease by moving out before the lease expires.

    Quote Quoting Srrme
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    The security deposit is more than the amount of rent owed.
    How do you know that?

    Has the landlord rerented the place yet?

    You will likely owe him rent until he rerents, not just for the rent you didn't pay.

  3. #3
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    We did move out before the lease ended, but we haven't had the funds available to pay the last months rent. He has re-rented it. The deposit we paid is more than the rent owed right now.

  4. #4
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Quote Quoting Srrme
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    We did move out before the lease ended, but we haven't had the funds available to pay the last months rent. He has re-rented it. The deposit we paid is more than the rent owed right now.
    Then he owes you the difference and you can sue him in small claims court if he doesn't comply with the security deposit statute.

    The exception to that would be if he had to apply part of the security deposit to the rent and the rest of it to repairs of any damage you left behind or an additional expenses that might have had to do with rerenting.

    He's still required to give you an itemization within one month after you surrendered the premises.

    If he doesn't he loses his right to keep any of the deposit.

    So I suggest you wait till the month is past and then you can sue for the return of the entire deposit according to the statute which, I hope, you have carefully studied by now.

  5. #5
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Does he still owe us the difference if we defaulted on the lease? And in the lease it stated the deposit was non-refundable?

    He is demanding we pay the last months rent by a certain date or he's going to take us to court. We left no damages to the property, and cleaned it before moving out like he asked us to.

    I am studying the statute right now, thanks.

  6. #6
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    "He is demanding we pay the last months rent by a certain date or he's going to take us to court."

    If it wasn't rented during this last month, the security deposit can be used for this. If you owe more than the security deposit can cover, you can be sued for this amount.

    " We left no damages to the property, and cleaned it before moving out like he asked us to."

    Damages can be more than just an uncleaned place.

    Gail

  7. #7
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Thank you. It wasn't rented during this last month. We were still occupying it and hoping to pay rent but we have fallen very short on funds. Our deposit is $500.00 more than the rent owed.

    What else can be claimed as a damage? There was no damage done to the property, and all of our utility expenses have been paid.

  8. #8
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Quote Quoting Srrme
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    Does he still owe us the difference if we defaulted on the lease?
    Yes.

    Quote Quoting Srrme
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    And in the lease it stated the deposit was non-refundable?
    Likely an illegal provision since the statute trumps the lease.

    Quote Quoting Srrme
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    He is demanding we pay the last months rent by a certain date or he's going to take us to court.
    He may be blowing hot air.

    Let him take you to court if he wants to. Then you counter claim for the entire deposit because he failed to comply with the statute.

    Quote Quoting Srrme
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    We left no damages to the property, and cleaned it before moving out like he asked us to.
    As Gail pointed out, damage could be a lot of things. He would, of course, have to prove them if he claims any.

  9. #9
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Thank you. It wasn't rented during this last month. We were still occupying it and hoping to pay rent but we have fallen very short on funds. Our deposit is $500.00 more than the rent owed. "

    Your posting is a bit confusing so my response may not be accurate.

    If you left owing rent the security deposit can be used for the amount of rent you owe.

    In addition, if you broke your lease and moved out early, the security deposit can also be used for the remaining months left on the lease until the landlord can rerent the unit (or, of course, the lease would normally end). The landlord does have the obligation to attempt to rerent the unit and once this occurs, your financial responsibilities regarding further rent would end even if your lease had not yet expired. In other words, the landlord cannot "double dip"; i.e., attempt to collect rent from both you and the new tenant.

    Keep in mind that there are certain times of the year where it is more difficult to find tenants. Late spring and summer tend to be better times as folks with children will often look to move when school is out. Fall and winter tend to be slower times to find tenants as many don't wish to move when the holidays roll around. Thus, while your landlord IS under an obligation to mitigate his/her losses, things might be slower this time of year.

    Gail

  10. #10
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    Default Re: Does Secutiy Deposit Cover Unpaid Rent in Colorado

    Thanks. I am sorry if I was unclear. We stayed there for one month without being able to pay rent, but he found a tenant the month after. All in all, do we tell him he should be able to take the rent from our security deposit, or do we wait to see if he really takes us to court?

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