QUESTION
Does an illegal lease contract clause fall back to the default?
Asked on Aug 02nd, 2013 on Residential Real Estate - Colorado
More details to this question:
Hello. A lease that I signed from August 2012 to August 2013 just ended. Colorado law states that security deposits must be returned within 30 days, but that time period may extend to 60 days if it is in the lease. My lease states that security deposits will be returned in "no sooner than 60 days." This is obviously beyond even the extended situational limit allowed. I am wondering if this means that the landlord now has 30 days, or if he has 60. Thank you.
1 ANSWER
3 Awards
You landlord has 60 days to return your security deposit or provide an accounting of the amount withheld. On day 61 he forfeits his right to retain any of the deposit and is in danger of being liable for triple the security deposit and the cost of your suit if you have to take him to court to recover your security deposit.
Hope that helps.
Don Eby
Answered on Aug 03rd, 2013 at 3:50 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.