Colorado Springs Colorado Letter from Landlord to Tenant Returning security deposit less deductions

State:
Colorado
City:
Colorado Springs
Control #:
CO-1065LT
Format:
Word; 
Rich Text
Instant download

Description

This is a letter informing Tenant that Landlord has deducted from the deposit the amounts itemized which are amounts either reasonably necessary to remedy default in the payment of rent, to repair damages to the premises caused by tenant, to clean such premises upon termination of the tenancy, or for other reasonable and necessary expenses incurred as the result of the tenant's occupancy.

A security deposit is a payment required by a landlord from a tenant to cover the expenses of any repairs of damages to the premises greater than normal "wear and tear." Everyday usage is normal wear and tear, but excess damage is a debated definition. A security deposit is not the same as rent. It is money that actually belongs to the tenant but is held by the landlord for tenant-caused damages and sometimes past-due rent. Without the agreement of the landlord, a security deposit may not legally be used as the last month's rent.

Laws vary by state, but some states place a limit on the amount of a security deposit that a landlord may charge. Some states also regulate where residential security deposits must be kept and when interest payments on the security deposits must be made to the tenant. State laws also define the time period after the tenant vacates within which the deposit must be returned to the tenant.

[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Tenant's Name] [Tenant's Address] [City, State, Zip Code] Subject: Return of Security Deposit less Deductions Dear [Tenant's Name], I hope this letter finds you well. As your former landlord for the property located at [Property Address], I am writing to inform you about the status of your security deposit after deducting the necessary expenses related to the tenancy. Please find the details outlined below. 1. Deductions: Upon thorough inspection of the property after your departure, it was found that certain maintenance requirements needed to be addressed. As per the terms of the lease agreement, the following deductions were made from your security deposit: a) Cleaning Charges: An amount of [$XX] was deducted to cover the costs associated with professional cleaning services required to restore the property to its original condition. This included cleaning carpets, tiles, windows, and general deep cleaning of the premises. b) Repair and Maintenance Charges: In order to rectify damages that were not considered normal wear and tear, an amount of [$XX] was allocated to cover repair expenses. These damages included [list specific damages, such as holes in walls or broken fixtures]. c) Outstanding Rent: Unfortunately, there was an unpaid rent balance of [$XX] which was deducted from your security deposit. It is important to note that your security deposit cannot be used as a substitute for rent payment. 2. Calculation and Refund: The total deductions outlined above amount to [$XX]. Subtracting this amount from your original security deposit of [EX], the remaining balance to be refunded to you is [$XX]. As per state regulations, the security deposit refund must be returned within 30 days of lease termination. Therefore, I plan to refund the remaining balance as stated above by [method of refund, e.g., check, direct deposit] within 30 days from the date of this letter. 3. Itemization of Charges: To provide you with a transparent breakdown of the deductions made, I have enclosed an itemized statement incorporating the expenses incurred. Please find the itemized statement attached to this letter. 4. Walkthrough Inspection: If you wish to discuss the deductions made or dispute any charges reflected in the itemized statement, please contact me within 10 business days from the receipt of this letter. We can arrange a mutually convenient time for a walkthrough inspection of the property to address any concerns you may have. 5. Forwarding Address: Kindly provide me with your updated forwarding address at your earliest convenience, to ensure the smooth delivery of the remaining security deposit refund. You can reach me by phone or email, as mentioned above. I appreciate your cooperation throughout the tenancy and trust that this explanation regarding the deductions made from your security deposit is clear. If you have any questions or require further clarification, please do not hesitate to contact me. Thank you for your cooperation and understanding. Sincerely, [Your Name] [Your Title (if applicable)] [Property Management Company Name (if applicable)] Enclosure: Itemized Statement of Deductions

[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Tenant's Name] [Tenant's Address] [City, State, Zip Code] Subject: Return of Security Deposit less Deductions Dear [Tenant's Name], I hope this letter finds you well. As your former landlord for the property located at [Property Address], I am writing to inform you about the status of your security deposit after deducting the necessary expenses related to the tenancy. Please find the details outlined below. 1. Deductions: Upon thorough inspection of the property after your departure, it was found that certain maintenance requirements needed to be addressed. As per the terms of the lease agreement, the following deductions were made from your security deposit: a) Cleaning Charges: An amount of [$XX] was deducted to cover the costs associated with professional cleaning services required to restore the property to its original condition. This included cleaning carpets, tiles, windows, and general deep cleaning of the premises. b) Repair and Maintenance Charges: In order to rectify damages that were not considered normal wear and tear, an amount of [$XX] was allocated to cover repair expenses. These damages included [list specific damages, such as holes in walls or broken fixtures]. c) Outstanding Rent: Unfortunately, there was an unpaid rent balance of [$XX] which was deducted from your security deposit. It is important to note that your security deposit cannot be used as a substitute for rent payment. 2. Calculation and Refund: The total deductions outlined above amount to [$XX]. Subtracting this amount from your original security deposit of [EX], the remaining balance to be refunded to you is [$XX]. As per state regulations, the security deposit refund must be returned within 30 days of lease termination. Therefore, I plan to refund the remaining balance as stated above by [method of refund, e.g., check, direct deposit] within 30 days from the date of this letter. 3. Itemization of Charges: To provide you with a transparent breakdown of the deductions made, I have enclosed an itemized statement incorporating the expenses incurred. Please find the itemized statement attached to this letter. 4. Walkthrough Inspection: If you wish to discuss the deductions made or dispute any charges reflected in the itemized statement, please contact me within 10 business days from the receipt of this letter. We can arrange a mutually convenient time for a walkthrough inspection of the property to address any concerns you may have. 5. Forwarding Address: Kindly provide me with your updated forwarding address at your earliest convenience, to ensure the smooth delivery of the remaining security deposit refund. You can reach me by phone or email, as mentioned above. I appreciate your cooperation throughout the tenancy and trust that this explanation regarding the deductions made from your security deposit is clear. If you have any questions or require further clarification, please do not hesitate to contact me. Thank you for your cooperation and understanding. Sincerely, [Your Name] [Your Title (if applicable)] [Property Management Company Name (if applicable)] Enclosure: Itemized Statement of Deductions

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Colorado Springs Colorado Letter from Landlord to Tenant Returning security deposit less deductions