This office lease provision states that Base Rent shall be $25.50 per rentable square foot. During the Renewal Term, Base Rent shall be increased by the change, if any, in the Consumer Price Index. In no event will the Renewal Rental Rate be less than the Base Rent.
Iowa Provision Calculating the Rent Increase
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FAQ
Landlords must return the deposit within 30 days of the tenant moving out. Raising Rent ? Landlords in Iowa may increase the rent to any amount with a 30-day notice. Notice of Entry ? Landlords must give their tenants a 24-hour notice before entering the unit unless it is an emergency, then no notice is required.
To calculate changes to your rent, divide the CPI percentage by 100 to get a decimal figure. Then, multiply this number by your current rent. Finally, add this number to your current rent.
Iowa has a unique method in determining late fees: if the monthly rent is less than $700, then the late fee shall be $12 per day, capping at a maximum fee of $60 per month; if the monthly rent is more than $700, then the late fee shall be $20 per day, capping at a maximum fee of $100 per month.
Either the landlord or the tenant must give the other at least 30 days notice in writing before ending the tenancy. The notice must be given at least 30 days before the next time rent is due.
A landlord can increase rent at the beginning of a new lease term but must provide the tenant with 30 days' notice before the increase will take place. Iowa does not have any rules on how much of an increase the landlord can charge.
Iowa Code section 562A. 12 provides specific requirements for accepting and returning security deposits. When asking for a security deposit, the landlord cannot take more than two months' rent.
Thirty-day notice to quit: You will receive this notice if you have a month-to-month lease or rental agreement that your landlord wants to end. Under this notice, you will have 30 days to move out of the rental unit (see Iowa Code Ann. § 562A. 34).
What Are Tenants' Rights and Responsibilities in Iowa? An Iowa tenant has the legal right to request a habitable unit to live in, make a written notice for repairs, and have due process before an eviction. If the landlord fails to comply with these terms, the tenant can seek legal help.
