What is the security deposit limit in Iowa?
Under Iowa Code § 562A.12, a landlord may not demand or receive a security deposit exceeding two months' periodic rent. The deposit must be held in a federally insured bank, savings and loan association, or credit union, and may not be commingled with the landlord's personal funds. The landlord must return the deposit (or provide a written itemized statement of deductions) within 30 days after termination of the tenancy and receipt of the tenant's mailing address. Failure to return within 30 days forfeits the landlord's right to withhold any portion. Bad-faith retention may result in punitive damages up to twice the monthly rental payment.