The law in plain English
Return deadline
Under Colo. Rev. Stat. Sections 35-80-102; 38-12-102 to 38-12-106; 38-12-402, the deposit response usually has to be sent within 30 days of the move-out timeline described by the state rule.
Required notice
Colorado generally requires the refund or itemized withholding within 30 days by default, up to 60 days if the lease says so, and current law adds a 7-day pre-suit demand step.
This dispute type
Once the Colorado deadline passes, the dispute stops being only about the deductions and becomes a deadline-compliance problem too. A landlord may still argue damage existed, but Colo. Rev. Stat. §§ 35-80-102; 38-12-102 to 38-12-106; 38-12-402 sets the clock for returning the balance and explaining any amount withheld.
Penalty leverage
If the withholding was wrongful or in bad faith, the exposure allowed under the statute is: Up to 3x the wrongfully withheld amount, plus court costs and reasonable attorney's fees