Colorado Security Deposit Law: C.R.S. § 38-12-103 Treble Damages
What are treble damages for security deposits in Colorado?
Under Colorado Revised Statutes Section 38-12-103, deposits must be returned within 30 days (up to 60 days if stated in lease). Willful retention without legal basis entitles the tenant to treble damages (three times the amount withheld) plus reasonable attorney fees.
Colorado Revised Statutes Section 38-12-103
Colorado security deposit disputes are governed by C.R.S. §§ 38-12-101 through 38-12-104.
Statutory Return Timeframe
Under C.R.S. § 38-12-103(1), a landlord must return the full deposit within one month (30 days) after termination of the lease, unless the lease agreement explicitly specifies a longer period, which can never exceed 60 calendar days.
The Mandatory 7-Day Demand Notice Prerequisite
To recover treble damages under Colorado law, the tenant must serve the landlord with a formal 7-Day Demand Notice notifying the landlord of intent to initiate legal proceedings under C.R.S. § 38-12-103(3)(a). If the landlord fails to pay within 7 days of receiving the notice, treble damages become mandatory.
Treble Damages and Attorney's Fees
The willful retention of a security deposit in violation of the statute renders the landlord liable for treble (3x) the amount wrongfully withheld, plus reasonable attorney's fees and court costs.