early termination of lease in Colorado : ezLandlordForms

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early termination of lease in Colorado

Lisa M

started a topic about 12 years ago

Is this considered a breach of contract? The tenants are moving out before signed lease expires giving us a 30 day notice - legally do we have to return the security deposit?

1 Comment

Bob R

said about 12 years ago

Sec.Dpst is used to correct damages and unpaid rent. You are required to return any dpst that is not used. The good news is that tenants gave you a Notice. Many tenants don’t. This gives you time to find another renter. Usually tenants will be responsible for rent until new tenants occupy the rental. Good Lease will have a clause covering your situation. Consider having a friendly talk with tenants. Remind them that they broke the lease and what they will be responsible for. Ask for their co-operation (keeping the place tidy, etc) and allow showing the place with short notice. Doing so may allow you to rent the place quickly and keep their expense low. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance.