State Specific Question About: IOWA (IA)

what is the process to figure legal rental reduction for loss of a 120 sq. ft. bedroom due to roof leak. Entire unit is 1000 sq.ft. monthly rent is $440. I came up with a figure of $13.64/month or $0.44/day. Tenant is contesting this amount because she maintains I should credit Fair Rental Value of a 1 BR townhouse as opposed to a 2BR townhouse (Of which she occupies, but has lost the use of one of the bedrooms.)

Any wisdom out there on this

Fair rental value means the price that a willing tenant and a willing LL can agree on in an open market.

120 sq ft / 1000 sq ft means that 12% of the unit area was unavailable due to roof leak. 12% of $440 is $52.80 per month ($1.76 on daily basis).

Fair market value seems fair to me, namely what the two of you can agree on. In CA, we're not allowed to charge any rent at all while unit is uninhabitable (includes lack of waterproof).

I don't see any way you could have come up with a figure like $0.44 per day.

Don't be so stingy.

If I understand the tenants wants credit for the price difference between a one and two bed unit.

I think this is more than fair and you should be happy. That is the market rate.

Your formula is unfair. With your formula good thing see did not lose a bathroom. What would she get a $4.00 a month discount?

I'd want a 50% reduction for losing use of half the bedrooms I rented... PLUS an aggravation fee. And have that reduction hold for as long as it took the LL to remedy the roof. And anything short of a cheerful OK from the LL would have with down to the court to start an escrow and probably get the fire and bldg dept and whoever else I could think of to come by and inspect.

Sound like fun?