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sweetpeaGK

Early Rental Lease Term & Security Deposit

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Hi. I am exercising an Early Lease Termination Option, where I pay a one-month fee to get out of the lease. My lease reads:

:"When we [the leasing mgmt co] receive the written notice and payment [one month fee] and sign the notice, the Lease Termination Date is amended. The new termination date is the date specified in the notice".

 

The leasing office is saying that because I'm executing an early termination, i am giving up my security deposit. My lease reads:

"The Security Deposit is returned to you when all the following conditions are met: 1) Expiration of the Term; 2) Given a 60 day notice (and there are 3 more reasonable conditions).

 

Do I have a solid legal argument that my written notice that is 60 days out, and the "Amended Termination Date" mentioned in the first section of this topic means that I've met the requirements and my security deposit must be returned to me? OR am i going to lose my security deposit because i'm not staying in the apartment through the original Term?

 

Thanks

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The leasing office is wrong.

 

The security deposit must be handled in accordance with the Colorado security deposit statute 38-12-103:

 

http://www.comptroltechnologies.com/maps/us/documents/Colorado/Colorado Statutes - Article 12 - Landlord and Tenant.pdf

 

The amended termination date starts the countdown.

 

If the LL doesn't comply with the security deposit statute you may sue in small claims court.

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Hi @Sweetpea

 

Welcome to the community and thanks for posting! Agreeing with adjusterjack, from your description of the facts it sounds like you have taken the appropriate steps to give adequate notice and invoke the early termination clause in your lease, and your landlord should thus return your security deposit. Check out this helpful article about filing a small claim in Colorado.

 

Best of luck!

The FindLaw.com Team

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