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Waterloo

Iowa

Short Term Rental FAQs for Waterloo, Iowa.

How restricted are short term rentals in Waterloo?

Light Restrictions

Does Waterloo,Iowa have any regulations for short term rentals?

No current regulation concerns

Does Airbnb automatically remit taxes for short term rentals in Waterloo?

Currently, Airbnb is collecting and remitting taxes on behalf of the host.

What are the city taxes for Waterloo

No current city level tax information.

Iowa State FAQs

Is Iowa a judicial or non-judicial state?

Judicial

In a judicial foreclosure state, the lender must go through the court system in order to foreclose on a property. This process can be longer and more expensive for the lender compared to a non-judicial foreclosure.

As a real estate investor, it is important to understand the differences between judicial and non-judicial states because it can affect the amount of time and money it takes to foreclose on a property. It can also impact the availability of properties that are being foreclosed on and the process of purchasing those properties.

What is the process of closing on a property in Iowa?

Attorneys may conduct closings, and so may real estate agents. Conveyance is usually by warranty deed. Mortgages and deeds of trust are both authorized security instruments, but lenders prefer mortgages because deeds of trust do not circumvent judicial foreclosure proceedings anyway. Those proceedings take at least 4 -6 months. Since Iowa is the only state which does not authorize private title title insurance, Iowans who want it must go through a state administered title company or fund. Buyers and sellers share the closing costs; sellers pay the documentary taxes. Property taxes are due July 1st based upon the previous January’s assessment.

Property Taxes in Iowa?

Due July 1st

In Iowa, does a property management company require a real estate broker's license?

Yes. Key components of property management (renting, leasing and collecting rent) are considered real estate activities under existing Iowa real estate licensing laws. According to statute, if a property manager is going to lease, rent, manage, list, collect rent, procure prospects or negotiate, assist, prepare residential rental agreements, or offer to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.

Are there any exceptions to the requirement that a property manager have a broker's license in Iowa?

Yes. For example, resident managers are exempt. For more information about these and other Iowa property management requirements and exceptions, please contact the Iowa Real Estate Commission. Before hiring a property manager to manage your Iowa rental property, you should always check that he or she is licensed appropriately. You can check the license status of Iowa property managers at the Iowa Online License Verification System.

Do you need a broker's license to manage community associations in Iowa?

NO. A broker's license is not required to manage community associations in Iowa.

Real Estate Broker Requirements

Iowa real estate broker licensing requirements include: - Age: must be at least 18 years of age - Experience: must have had 24 months of active salesperson experience in preceding 24 months - Education: must successfully complete 72 hours of broker pre-license education - Trustworthiness: must undergo a criminal history and background check - Insurance: must provide evidence of errors and omissions insurance - Exam: must pass the broker exam - License Fee: $170 (effective for 3 years)

Real Estate Salesperson Requirements

Iowa real estate salesperson licensing requirements include: - Age: must be at least 18 years of age - Residency: there is no residency or citizenship requirement - Sponsorship: must be sponsored by a broker after taking the exam; cannot have an inactive license - Education: must complete the 60-hour pre-license course at an approved school - Exam: must pass the salesperson exam - Trustworthiness: must undergo criminal history and background check - Insurance: must obtain errors and omissions insurance

How do property ownership transfers work in ?

Warranty deed.

Sustainability Resources

The Real Estate industry is one of the most environmentally damaging industries in the world accounting for:
30%
of total carbon dioxide
40%
of all energy
40%
of all raw materials
Our goal is to give you the resources you need to take sustainable action in improving, building, retrofitting and revamping your home. The impacts are real, the benefits significant, and the need critical. Join us in bringing sustainability home and creating a brighter future for all, starting with you.

Save money and do the world a favor!
Here's a list of Sustainability Initiatives in the area:

Energy Saving Infographic: Landscaping

This infographic goes over how landscaping choices can conserve energy and water.

Rainwater Harvesting 101

Overview of what rain harvesting is, where it is most effective, how it is most effective and more.

Save Energy With a Home Energy Audit

The Home Energy Check up by PE&G offers personalized, suggested improvements that can help you save energy and costs.