In this article, we discuss an Iowa landlord’s security deposit obligations, the rules for storing Iowa security deposits, Iowa security deposit interest and deductions, returning an Iowa security deposit, and what happens if the property is transferred to a new landlord? Security deposit rights as defined in Iowa’s landlord-tenant law exist to provide protection for both the landlord and the tenant. The law provides landlords with the right to collect a security deposit from their tenants in addition to the normal monthly rent.