Full Definition
A security deposit is money paid upfront when signing a lease, held by the landlord as protection against damage to the unit, unpaid rent, or other lease violations. The deposit is refundable at the end of the lease, minus legitimate deductions.
Colorado law limits security deposits to no more than 2 months' rent. Landlords must return the deposit (or itemized statement of deductions) within 30 days of move-out, or 60 days if disclosed in the lease.
Common deposit ranges in Denver: 1 month rent for qualified applicants with good credit, 1-1.5x rent for applicants with borderline credit or non-standard situations (ITIN, broken lease), 2x rent for higher-risk applicants or in lieu of a co-signer.