The Iowa generic lease agreement is the most common residential contract that permits a person (Tenant) to live in space by paying a monthly amount to a property owner (Landlord). Depending on the circumstances, the tenant may have to submit their personal information before signing the lease agreement through a rental application. The application allow the landlord to view the tenant’s background and income to see if they are credible for the contract terms.
Upon approval the landlord will create an agreement which should be signed by both parties. If the landlord requires a Security Deposit, it must be paid at this time before being allowed access to the premises.