Iowa Property Management Agreement

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Iowa Property Management Agreement

An Iowa property management agreement is a legal document that outlines the terms by which a landlord agrees to hire a property manager. The contract includes important clauses like the duration of the agreement, how much the manager will be compensated, and the services they will provide.

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Last updated May 13th, 2025

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An Iowa property management agreement is a legal document that outlines the terms by which a landlord agrees to hire a property manager. The contract includes important clauses like the duration of the agreement, how much the manager will be compensated, and the services they will provide.

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Laws

License Required? Yes. Per state law, any individual acting on behalf of an owner for compensation must have a broker’s license (§ 543B.3). One exception to this rule is a resident manager who lives in the building they manage (§ 543B.7(8)).

Agreement Requirements – In accordance with Iowa statutes, the following must be included in a property management agreement (§ 193E-15.1(1)(543B)):

  • Identification of the property
  • The date the agreement becomes effective
  • Amount the broker will be paid and when
  • Amount of security deposits and prepayment rentals the broker or owner will hold
  • Terms and conditions by which the agreement may be terminated
  • The authority given to the broker by the owner
  • Terms and conditions regarding how the property will be managed
  • How the broker will send property income to the owner, as well as statements of income and expenses
  • Which payments of property-related expenses are to be made by the broker to third parties
  • The signatures of both parties

Verify a Manager – https://iowaplb.force.com/LicenseSearchPage