(1) If an owner fails to deliver possession of a residential rental unit on the date provided in the rental agreement:
(a) the renter may, by written notice to the owner, terminate the rental agreement; or
(b) if the renter chooses not to terminate the rental agreement, rent abates until the owner delivers possession as provided in the rental agreement.
(2) If a renter terminates a rental agreement under Subsection (1)(a), the owner shall, as promptly as reasonable, return to the renter all prepaid rent and any security deposit.