Maximum Amount – The Landlord is prohibited from imposing a security deposit exceeding two months’ rent.

Return – It is required by law that landlords return the tenant’s deposit within a period of 30 days following their move-out date. Failure to comply with this regulation may result in legal action.

Grace Period – Rent must be paid on the agreed-upon date by the landlord and tenant in Iowa. In the absence of a rent grace period, the landlord may issue a 3-day notice to quit if the rent is not paid.

Late Fees – Failure to make timely rent payments may lead to a penalty. The amount of the penalty is determined by the monthly rent due and is categorized into two tiers. In the event that the monthly rent is $700 or less, the maximum penalty is $12 per day, with a monthly cap of $60. However, if the monthly rent exceeds $700, the maximum penalty is $20 per day, with a monthly limit of $100. It is essential to ensure that rent payments are made on time to avoid incurring penalties.

NSF Fee – $25 per bounced rent check.

Source: § 562A.9(3), § 562A.9(4)

It is mandatory for the landlord to provide a 24-hour notice prior to entering the premises for non-emergency reasons, such as maintenance or inspection.