This form is a tenant oriented office lease clause that states that the amount of the security deposit shall be reduced from 4 months' Base Rent to 3 months' Base Rent provided that certain lease conditions are met by the lessee.
Iowa Tenant Oriented Clause Providing for the Reduction of the Tenant Security Deposit
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Multi-State
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US-OL4A012C
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How to fill out Tenant Oriented Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
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.
Security Deposit Deductions in Iowa Unpaid rent. Costs of damage excluding normal wear and tear. Eviction expenses and other costs to acquire possession. Unpaid funds or fees outlined in the lease (e.g. utilities, late fees)
648.3 Notice to quit. Before action can be brought under any ground specified in section 648.1, except section 648.1, subsection 1, three days' notice to quit must be given to the defendant in writing.
What Are Landlords' Rights and Responsibilities in Iowa? Landlords in Iowa are legally allowed to collect rent payments on their due date, start eviction proceedings if there are any breaches in the lease document, and deduct repair costs from the security deposit if the tenant refuses to pay.
562.4 Tenant at will ? notice to terminate. A person in the possession of real estate, with the assent of the owner, is presumed to be a tenant at will until the contrary is shown, and thirty days' notice in writing must be served upon either party or a successor of the party before termination of the tenancy.
562.5 Termination of farm tenancies. In the case of a farm tenancy, the notice must fix the termination of the farm tenancy to take place on the first day of March, except in cases of a mere cropper, whose farm tenancy shall terminate when the crop is harvested.
562.6 Agreement for termination. If a written agreement is made fixing the time of the termination of a tenancy, the tenancy shall terminate at the time agreed upon, without notice.
Steps to Terminating Common Farm Tenancy in Iowa Complete the Tenancy Termination Form properly. ... Arrange for delivery or service to the tenant before September 1st. ... Document your process and service of the form to the tenant. ... File your documents for safe keeping and future needs.
