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Iowa Security Deposit Law Explained | What Are An Iowa Landlord’s Security Deposit Obligations?
Article written by Illinois & Iowa Attorney Kevin O’Flaherty
In this article, we discuss an Iowa landlord’s security deposit obligations, the rules for storing Iowa security deposits, Iowa security deposit interest and deductions, returning an Iowa security deposit, and what happens if the property is transferred to a new landlord?
Security deposit rights as defined in Iowa’s landlord-tenant law exist to provide protection for both the landlord and the tenant. The law provides landlords with the right to collect a security deposit from their tenants in addition to the normal monthly rent. This security deposit provides the landlord with peace of mind that she will be able to cover any unexpected damages to the property by the tenant.
The tenant understands that if she leaves the property in the same shape as it was when it was first rented to the tenant, they will have her security deposit returned at the end of the lease. Iowa is one of many states in the US that does not require providing a tenant with a written receipt after receiving the tenant’s security deposit.
