A security deposit is a sum of money that is paid by the tenant to the landlord to assure that the tenant performs the lease. A security deposit may be called a "damage deposit, a cleaning deposit or a pet deposit." Regardless of its name, if the money is given to assure performance by the tenant, the Colorado laws discussed in this section apply. A deposit that is given as a prepayment of rent in order to hold a unit is not a security deposit and is therefore not subject to the security deposit laws. The security deposit laws apply only to residential units, not to commercial premises.