SECURITY DEPOSIT ITEMIZATION AND RETURN LETTER

(Iowa Residential Tenancies – Iowa Code § 562A.12 (2023))

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block

I. DOCUMENT HEADER

1. Parties.
   a. “Landlord”: [LANDLORD LEGAL NAME], whose notice address is [LANDLORD ADDRESS].
   b. “Tenant”: [TENANT LEGAL NAME], formerly in possession of [PROPERTY ADDRESS] (“Premises”).

2. Recitals.
   a. Landlord and Tenant were parties to a residential lease for the Premises that commenced [LEASE START DATE] and terminated on [TERMINATION DATE] (“Termination Date”).
   b. Tenant paid, and Landlord received, a security deposit in the amount of $[DEPOSIT AMOUNT] (“Deposit”) pursuant to the lease and Iowa Code § 562A.12.
   c. Possession of the Premises was delivered to Landlord on the Termination Date. This letter is issued within thirty (30) days thereof in compliance with Iowa Code § 562A.12(3).

3. Effective Date. This letter is effective on the date set forth in the signature block below (“Effective Date”).

4. Jurisdiction. This letter is governed by Iowa state landlord-tenant law and any dispute shall be brought exclusively in the state housing court having jurisdiction over the Premises.

II. DEFINITIONS

For ease of reference, capitalized terms have the meanings set forth below:

“Allowable Deductions” – Those deductions from the Deposit authorized under Iowa Code § 562A.12(3), including (i) unpaid rent, (ii) damages to the Premises beyond ordinary wear and tear, and (iii) other amounts lawfully due under the lease.

“Itemization Table” – The table contained in Section III.3 detailing each Allowable Deduction.

“Net Refund” – The portion of the Deposit remaining after subtracting total Allowable Deductions, as reflected in Section III.4.

“Statutory Deadline” – The 30-day period following the later of (a) Termination Date or (b) the date Tenant vacated and returned possession, per Iowa Code § 562A.12(3).

III. OPERATIVE PROVISIONS

1. Deposit Received. Landlord acknowledges receipt of the Deposit in the amount of $[DEPOSIT AMOUNT].

2. Compliance with Statutory Deadline. Issuance of this letter, together with any enclosed payment, constitutes Landlord’s compliance with the Statutory Deadline.

3. Itemization of Allowable Deductions.
   | # | Description of Charge | Statutory Category | Amount (USD) | Supporting Documentation |
   |---|-----------------------|--------------------|-------------:|--------------------------|
   | 1 | [e.g., Unpaid rent for May 20XX] | Unpaid Rent | $[] | Ledger attached |
   | 2 | [e.g., Carpet replacement – living room] | Damage > Ordinary Wear | $[] | Invoice attached |
   | 3 | … | … | … | … |
   | | Total Allowable Deductions | | $[TOTAL DEDUCTIONS] | |

[// GUIDANCE: Insert each deduction separately, reference invoices/receipts, and attach copies. Ordinary wear and tear may not be deducted.]

4. Net Refund Calculation.
   Deposit Received: $[DEPOSIT AMOUNT]
   (-) Total Allowable Deductions: $[TOTAL DEDUCTIONS]
   (=) Net Refund Due to Tenant: $[NET REFUND]

5. Method of Refund. The Net Refund is enclosed herein via [CHECK / ELECTRONIC TRANSFER REFERENCE] payable to Tenant.

6. Reservation of Rights.
   a. Nothing in this letter waives Landlord’s right to pursue additional damages lawfully due and owing that were not reasonably discoverable before issuance of this letter.
   b. Tenant’s endorsement or negotiation of the enclosed payment shall not be deemed an accord and satisfaction of any disputed claim unless expressly agreed in writing.

IV. REPRESENTATIONS & WARRANTIES

1. Accuracy. Landlord represents that all Itemization Table entries are true, accurate, and made in good faith.
2. Compliance. Landlord represents that all Allowable Deductions are authorized under Iowa Code § 562A.12 and the lease.
3. Survival. The representations in this Section survive delivery of the Net Refund.

V. COVENANTS & RESTRICTIONS

1. Tenant Covenants. Tenant shall:
   a. Provide Landlord with a forwarding address for future statutory notices;
   b. Promptly negotiate the enclosed payment.

2. Landlord Covenants. Landlord shall maintain records of all deductions for a minimum of one (1) year from the Effective Date.

VI. DEFAULT & REMEDIES

1. Dishonored Payment. Should the enclosed payment be dishonored, Tenant must notify Landlord in writing within five (5) business days to allow cure.
2. Statutory Penalties. Failure by Landlord to comply with Iowa Code § 562A.12 may entitle Tenant to recover the Deposit plus statutory damages up to twice the amount wrongfully withheld.

VII. RISK ALLOCATION

Given the non-contractual nature of this statutory notice, neither indemnification provisions nor liability caps beyond those in Iowa Code § 562A.12 apply.

VIII. DISPUTE RESOLUTION

1. Governing Law. This letter and any dispute arising herefrom are governed by the Iowa Uniform Residential Landlord and Tenant Law, Iowa Code ch. 562A.
2. Forum Selection. Exclusive venue lies in the state housing court with jurisdiction over the county wherein the Premises is situated.
3. Arbitration. Arbitration is expressly excluded.
4. Jury Waiver. No party waives any constitutional right to jury trial.
5. Injunctive Relief. Parties’ remedies are limited to money damages unless otherwise provided by law.

IX. GENERAL PROVISIONS

1. Entire Notice. This letter constitutes the complete statutory accounting required by Iowa Code § 562A.12(3) and supersedes any prior oral statements regarding return of the Deposit.
2. Amendments. Any amendment must be in a written instrument signed by both parties.
3. Severability. If any portion of this letter is held unenforceable, the remainder shall remain in full force.
4. Electronic Signatures. Signatures transmitted electronically shall be deemed originals.
5. Counterparts. This letter may be executed in counterparts, each of which is deemed an original and all of which together constitute one instrument.

X. EXECUTION BLOCK

Executed as of the Effective Date.

LANDLORD:

[LANDLORD NAME, TITLE (if entity)]
Date: ________

TENANT ACKNOWLEDGMENT (Optional):
Receipt of the foregoing letter and enclosed Net Refund acknowledged.

[TENANT NAME]
Date: ________

Enclosures: Check #[____]; invoices/receipts as referenced above.

[// GUIDANCE: Counsel should verify current statutory language and any municipal ordinances before issuance. Attach all supporting documentation. Retain proof of mailing (e.g., certified mail, return receipt) to establish compliance with the 30-day Statutory Deadline.]