That’s my money

Before leasing a property, landlords and superintendents typically expect down payments for collateral to repair damages caused by those living in the residence. Depending on the house or apartment, payments can be more than $600, so the owners of the property will not have to pay out of pocket for blighted parts of the property.

What students can learn about getting their deposits back and how to maintain repairs could save them hundreds of dollars.

"We actually really love giving deposits back," said Steve Reed, owner of Property Technica Inc. "It's like we did our job and they did theirs — everybody's happy. On a security deposit, we can charge for late charges, carpet-shampooing charges. And this is something students should know about. Damages have to be documented."
Brandon Houtchens, the UNC student Legal Services attorney, said it's important for students to be aware of the law when accepting a lease and making a deposit on a location. 

"There are specific laws that protect tenants in Colorado, and knowing those laws can be advantageous to any tenant, because if the landlord does not follow the law, there are some things the tenant can take advantage of," Houtchens said. 

According to a legal sheet provided by Houtchens, under Colorado's premises liability statute, C.R.S. 13-21-115, landlords, property managers and tenants may be subject to liability for damages and injuries to visitors caused by dangerous conditions students knew or should have known of.

"If the landlord promises to repair the problem or be responsible for repairs, generally, it would be wise to get that promise in writing," according to the document. "An inspection also provides both parties with a third person who might be valuable in the event of a security deposit dispute."

One of the most common problems in student housing is damaged dry wall. Houses that are affordable to students typically use materials that are brittle and easily damaged; however, they can be fixed without expensive maintenance, such as spackling. But if repairs aren't made, the fees incurred can be overwhelming.    

Andrea Taylor, the assistant manager at Arlington Park Student Apartments,
said the staff and faculty try to be very student-friendly when it comes to applying for an apartment. She said since 2004, Arlington Park Student Apartments has not charged a security deposit, but instead a one-time service fee of $100.

"We charge this one-time fee the first time students apply," Taylor said. "No other type of fees are charged. We just try to make it easy for the students — it's less money for them to come up with up-front."

Arlington Park Student Apartments is owned by the University of Northern Colorado and can only lease to students. Faculty members said they are flexible with lease terms for students who are student teaching, graduating or studying abroad.