What is a security deposit?

When I researched this question the best answer I found was:

“A payment required by a landlord to ensure that a tenant pays rent on time and keeps the rental unit in good condition. If the tenant damages the property or leaves owing rent, the landlord can use the security deposit to cover what the tenant owes.”

So basically, if you the tenant skips out of town and still owe rent or you damage the property, the deposit (all or partial) can be used by the landlord/owner/property manager. The security deposit can not be used to cover normal wear and tear.

So what is normal wear and tear? Colorado describes it as “Normal wear and tear is painting the walls or shampooing the carpets to prepare the unit for the next renter.”

As for carpet cleaning – actually carpet cleaning can be charged back for removal of stains that aren’t normal wear & tear – koolaid stains aren’t normal, pet stains & smells aren’t normal – also the lease should be checked as many leases state it’s done before you move in and you must do so when you move out (single family homes mostly).

Landlords usually have a set time to return the security deposit. The time varies by the state that you live in. In the state of Colorado the landlord is required to provide a written statement within 30 days why the deposit was not refunded in full. Unless the lease states differently – can be up to 60 days (postmarked)

So what happens if the landlord is dishonest and withholds the deposit for the wrong reasons? In Colorado the tenant can sue the landlord for a judgement up to 3 times the amount wrongfully withheld plus the legal fees.