Real Estate Bookkeeping In Iowa
Des Moines produces the long tenancies that cross Iowa's five-year interest boundary. Cedar Rapids is mid-sized and locally held, where the custody rules matter more than the timing and the usual failure is drift rather than intent. Davenport sits in the Quad Cities straddling the Iowa-Illinois line, so like Kansas City a single portfolio runs under two states' rules, and the interest treatment is the divergence a conservative blanket policy cannot absorb.
Locate the city nearest to you and select your software below to learn more. Don’t see your city? Schedule a meeting with us to learn more about how REA can help your property management accounting needs.
Iowa at a glance
- Security deposit return
- 30 days from termination and the tenant's address
- Governing statute
- Iowa Code 562A.12
- Cities we publish
- Des Moines · Cedar Rapids · Davenport
What Iowa Law Changes About Your Books
Deposit Handling and Trust Requirements
Trust and deposit rules are set state by state, and they change the accounting itself, not just the paperwork around it. A deadline is a ledger requirement: you cannot return a deposit inside a statutory window if the ledger cannot say what is owed.
Security deposits
Iowa 562A.12 caps the deposit at two months' rent and requires return, or a written statement of deductions, within 30 days from termination AND receipt of the tenant's mailing address or delivery instructions, so the tenant's act starts the clock.
Trust and segregation
Iowa's interest rule runs opposite to most states: any interest earned during the FIRST FIVE YEARS of a tenancy is the property of the LANDLORD, and after that it is not. A five-year ownership boundary is genuinely unusual and it makes tenancy start date an accounting input, because a portfolio with tenants either side of it cannot use one blended treatment. Deposits must be held for the tenant at a federally insured institution and must NOT be commingled with the landlord's personal funds.
What we do about it
- Deposit liabilities tracked per tenant, so a 30 days from termination and the tenant's address deadline is answerable from the ledger
- Trust accounts reconciled three ways, including every beneficiary balance
- Deduction documentation recorded against the correct ledger, not filed separately
- Aging deposits flagged before the statutory window closes
Summary of statutory requirements provided for orientation. It is not legal advice, and local ordinances can impose stricter rules than the state minimum.
Cities We Cover in Iowa
Market by Market
We work with property managers and investors across all of Iowa, all 938 cities and towns of it. The markets below are the ones we publish Iowa-specific detail for. If yours is not listed, the same team and the same Iowa Code 562A.12 rules still apply.
Des Moines
Iowa has a deposit interest rule that runs the opposite way to most states, and it rewards exactly the long tenancies that Des Moines portfolios tend to produce.
Bookkeeping by platform
Cedar Rapids
Cedar Rapids portfolios are typically mid-sized and locally held, and Iowa's requirements are less about timing than about custody: where the money sits and whose it is.
Bookkeeping by platform
Davenport
Davenport sits in the Quad Cities, which straddles the Iowa-Illinois line. Like Kansas City, a portfolio here can run under two states' rules at once, and the two do not agree.
Bookkeeping by platform
Select Your Software
We Work Inside Your Platform, From Anywhere in Iowa
Services Available in This State
Every back-office function below is available on its own or as part of a full monthly close, anywhere in the state.
Experts In All Property Types
Residential, commercial and everything in between. The asset class changes what the books have to prove, and our teams are staffed accordingly.
- Single-Family
- Multifamily
- Student Housing
- Affordable Housing
- Community AssociationsSee the page
- CommercialSee the page
Check Out What Our Clients Have To Say About Us
Property Managers, Investors & Owner Operators
Onboarding and responsiveness
Real Estate Accounting truly is a special company. They helped as if they were a part of our company, with the concern and caution as an employee would have, but even more. They quickly ascertained our needs and developed an effective team to help with our accounting needs. They were extremely responsive and always accurate. I would recommend their services to anyone who needs help with their property management accounting.
Smaller portfolio, still looked after
Adam the owner took a personal interest in my situation and was willing to work with me to see if his company was a good fit. I may be too small for them but I would highly recommend them to anyone considering a bookkeeper for their property management business.
Came from a bookkeeper who did not know real estate
Following a series of erroneous financials from my previous bookkeeper, who lacked expertise in real estate, it's been truly remarkable to receive not only accurate financials on a consistent basis but also proactive advice without prompting. The REA team is a game-changer in real estate accounting!
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Property Accounting for Iowa Portfolios
Schedule a call and we will walk your Iowa deposit and trust setup, tell you whether it reconciles today, and scope the monthly work.