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Landlord Tenant Law - Rentlaw.com |
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Security Deposits
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security
deposits in other
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Also see: Normal
Wear and Tear
- Security deposits are regulated by Iowa Code Chapter 562A.12.
- Landlords are allowed to take a maximum of two (2) months rent
as a security deposit.
- Landlords may have the deposit in an interest-bearing account
and are entitled to keep any interest up to five years of the
tenancy. (After five years the tenant can request the interest)
Read more in Iowa Security Deposits
- Deposits can only be used for the following purposes:
- To remedy a tenant's default in the payment of rent or of
other funds due to the landlord pursuant to the rental
agreement.
- To restore the dwelling unit to its condition at the
commencement of the tenancy, ordinary wear and tear excepted.
- To recover expenses incurred in acquiring possession of the
premises from a tenant who does not act in good faith in
failing to surrender and vacate the premises upon
noncompliance with the rental agreement and notification of
such noncompliance pursuant to this chapter.
- If your landlord does not return your security deposit and/or an
explanation of charges within 30 days of the termination of your
lease and the landlord's receipt of your forwarding address,
he/she forfeits the right to withhold money from your deposit.
However, your landlord may still sue you in small claims court for
damages and unpaid rent. If you are in a situation with your
deposit, fill out our assistance form. (Note: If you sublease,
your landlord has the right to keep your deposit until after your
original lease term is up.)
- If you end up in small claims court over your security deposit,
the burden of proof for any charges he/she has taken out of your
deposit falls on the landlord. If the judge finds that the
landlord withheld money from the deposit in bad faith, punitive
damages of up to $200 may be assessed to the landlord.
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Iowa
Real Estate Basics
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