 Interest on Deposit (by Frank [CO]) Aug 6, 2009 9:00 AM
 Interest on Deposit (by Susan [CO]) Aug 6, 2009 9:03 AM
Interest on Deposit (by Frank [CO]) Aug 6, 2009 9:18 AM
Interest on Deposit (by Virden [OH]) Aug 6, 2009 10:10 AM
Interest on Deposit (by tim [CO]) Aug 6, 2009 1:49 PM
Interest on Deposit (by Frank [CO]) Aug 6, 2009 2:26 PM
Interest on Deposit (by Frank [CO]) Aug 6, 2009 2:30 PM
Interest on Deposit (by Irish [MD]) Aug 6, 2009 9:44 PM
Interest on Deposit (by tim [CO]) Aug 8, 2009 8:20 AM
Interest on Deposit (by Frank [CO]) Posted on: Aug 6, 2009 9:00 AM
Message:
State Specific Question About: COLORADO (CO)
I have read that Colorado state law says that I must return the deposit with interest after termination of the lease. First off, does anyone know if this is correct? But in the lease that my tenant signed, it states that the deposit shall be returned to the tenant without interest. Is this binding?
I am curious to know what other landlords out there used as resources for learning the law in their state. I don't really want to pay a lawyer for info as I keep having ongoing questions.
Thanks for any responses. --174.16.xx.xx |
Interest on Deposit (by Susan [CO]) Posted on: Aug 6, 2009 9:03 AM
Message:
Last I knew, the City of Boulder requires interest be paid on the deposit (obviously I do not have property there!) Otherwise, interest is payable only if the contractural lease term is greater than one year. --209.181.xx.xx |
Interest on Deposit (by Frank [CO]) Posted on: Aug 6, 2009 9:18 AM
Message:
I have been reading a lot of things on the Boulder website. The property is actually in Littleton and is in the county of Arapahoe. What is confusing me about the site is whether this is CO state law or Boulder area law? I seem to be getting conflicting statements on this. --174.16.xx.xx |
Interest on Deposit (by Virden [OH]) Posted on: Aug 6, 2009 10:10 AM
Message:
Have you tried going to sit in liars court to hear how other have disputed it in your local court system? Sometimes if you are there during recess you can ask a bailiff questions and get some quick feedback, visiting court is always a good way to screen tenants that visit an open house - you know why they are moving. --76.241.xxx.xxx |
Interest on Deposit (by tim [CO]) Posted on: Aug 6, 2009 1:49 PM
Message:
"I have read that Colorado state law says that I must return the deposit with interest after termination of the lease."
Can you cite where you see in the colorado statutes any reference to interest on a deposit? To my knowledge colorado has no interest requirement, but some cities do as mentioned.
--12.17.xxx.xxx |
Interest on Deposit (by Frank [CO]) Posted on: Aug 6, 2009 2:26 PM
Message:
To Tim:
The information I obtained was actually from bouldercolorado.gov which has sections in which it quotes "Colorado state law" but for the section about "interest on security deposits" it does state that it is for residential property in Boulder. I wasn't sure if it also included all of Colorado state.
I suppose I am just looking for confirmation in the form of something actually saying that I am not legally responsible for paying out interest on the deposit. I myself have never (though this was long ago) gotten back my deposit with interest in Colorado but my renter actually wrote a letter saying that he expects to get his full deposit plus interest back. This was our first renter in our first rental property and I'm still learning and want all my bases covered.
Thanks again. --174.16.xx.xx |
Interest on Deposit (by Frank [CO]) Posted on: Aug 6, 2009 2:30 PM
Message:
To Virden:
That is an excellent idea about going into court. I certainly will do that soon. It looks like I will end up there anyway as the same renter neglected to pay his last month's rent, left the townhome filthy, put several holes in walls for telephone wires he decided to run, etc.
Thanks for the advice. --174.16.xx.xx |
Interest on Deposit (by Irish [MD]) Posted on: Aug 6, 2009 9:44 PM
Message:
Even if you only have only one rental, you need to find and memorize your state's LL-Tenant Laws...
First click on the Landlord-Tenant State Laws link at the top of this page...
Some of these links do not lead to the actual state codes..so you may have to do a Google to find the actual state/locallity codes...
if Google does not show...give a call to your city & county clerk's office to discuss and inquiry... --70.16.xxx.xxx |
Interest on Deposit (by tim [CO]) Posted on: Aug 8, 2009 8:20 AM
Message:
Frank, Here is a good link for the colorado laws. I live in the same county Arap, and have rentals in Denver as well.
Never found any reference to interest in either cities laws or the state law. Be sure to review the laws.
In Colorado you can be sued for treble damages, if your found to withhold a deposit illegally. 38-12-103-3a
h*t*t*p://www.michie.com/colorado/lpext.dll?f=templates&fn=main-h.htm&cp --65.103.xxx.xx |
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