Q: With regards to CO Rev Stat § 38-12-103 (2016)
If the time specified in section 1 passes and the landlord has not returned the security deposit or provided an itemized list of deductions, are damages and fees still deducted from the amount of 3x the original deposit?
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A:
Think of them as separate topics. The security deposit is meant to secure the performance of the lease. Once the time period has passed, the landlord forfeits the right to retain the security deposit. At that point, you have the responsibility to send the appropriate letters and bring legal action if necessary. But in short, he has lost the ability to retain that deposit.
This does not relieve you from damages which are typically governed by your contract. IE, you may still be responsible for those damages. It is just that would be paid by you versus out of your security deposit. It is confusing, I admit but the source of the payment makes a difference for litigation purposes. IE, you can win on a security deposit statute claim but lose on a breach of contract claim.
Please be aware this is not legal advice. I am simply trying to explain a theoretical concept. Do not rely on it. I highly suggest you contact an attorney for help.
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