Under the Iowa Uniform Residential Landlord and Tenant Act, what is the maximum security deposit a landlord may collect from a tenant?
Correct Answer
C) Two months' rent
Under Iowa Code §562A.12, which is part of the Iowa Uniform Residential Landlord and Tenant Act, a landlord may not require a security deposit in excess of two months' rent. It is important to note that the Iowa Uniform Residential Landlord and Tenant Act applies only to cities that have adopted it and does not apply statewide to all Iowa jurisdictions. Where the Act applies, the two-month cap is enforceable.
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License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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