The rule
- Deposit limit
- 2 months’ rent
- Return deadline
- 30 days
- Interest owed
- Not required
- Itemized deductions
- Required
- The deadline
- Within 30 days after the tenancy ends and the landlord receives the tenant’s mailing address or delivery instructions; a landlord who misses the written statement deadline forfeits any right to withhold.
- Interest
- Deposits must be held in a federally insured account; any interest earned during the first 5 years of a tenancy belongs to the landlord.
- Deductions
- The landlord must give you an itemized list of anything kept from the deposit.
- If it isn’t returned
- Bad-faith retention: punitive damages up to twice the monthly rent plus actual damages; the court may award attorney fees to the prevailing party.
Law: Iowa Code § 562A.12
Last reviewed September 30, 2026
Not legal advice. Statutes change; check the linked section.