- What is a Lease Agreement in Indiana
- Types of Indiana Lease Agreements
- Indiana Lease Addendums and Disclosures
- Indiana Lease Agreement Laws
- Indiana Residential Lease Agreement Sample
- FAQs About Indiana Lease Agreement
Indiana Lease Agreement
What is a Lease Agreement in Indiana
A lease agreement is a legally binding contract between a landlord and a tenant. This is written to conform to state laws where the property is located. In Indiana these allow both parties to comply with a series of set terms for a specified number of months or years.
A lease agreement should contain the following details:
How long the tenant may legally reside in the property
How much rent should be paid
Information about the security deposits necessary
When rental installments are due
Any additional costs that must be serviced by the tenant
The rules regarding the proper use of the property
Situations that constitute lease violation eviction procedures
Types of Indiana Lease Agreements
There are many types of Indiana lease agreement forms that can be used to manage and legally bind many different types of rental situations. They allow landlords to rent out various types of property they might have and for tenants to find the best kind of tenancy for their needs.
The most common types of lease agreements in Indiana include:
Standard residential lease agreements: Under a standard lease agreement both the landlord and tenant commit to a fixed set of terms that last for a series of months or years.
Lease-to-own lease agreements: Lease agreements with lease-to-own options allow the possibility of the tenant purchasing the property during the term.
Month-to-month rental agreements: Month-to-month lease agreements will often have similar basic terms to standard residential lease contracts. However, they differ as they can be renewed or ended on a month-by-month basis. Their terms may also be flexibly altered each month.
Commercial lease agreements: Commercial leases are provided by landlords of retail property to tenants that intend to use the real estate to run a business.
Room rental agreements: In rental properties with shared living areas a room rental agreement can be used to rent a singular bedroom.
Sublease Agreement: An Indiana sublease agreement allows tenants to reassign or ‘sublease’ the property to another individual. This requires the property landlord’s permission and must be specifically allowed in the original lease.
Indiana Lease Addendums and Disclosures
Indiana lease agreements must contain a few disclosures and addendums when they are completed and signed. This is to properly inform the tenant of any health risks or potential issues with the property or details about how the property is managed that they must be aware of.
These essential addendums include the following:
Lead paint disclosure: If the rental unit is in a building constructed before 1978, the landlord or their agent must disclose whether lead paint can be found on the property and must provide safety information for any located on the premises (IC § 16-18-2-0.5).
Agent/owner identification: The lease agreement must include a section or an addendum that discloses the contact information of the landlord or a chosen agent who will act on their behalf (IC § 32-31-3-18) .
Indiana Lease Agreement Laws
An Indiana lease agreement must be written and signed within the laws of Indiana state, otherwise, it will be legally contestable and can be declared invalid and block either party from recourse if a violation is committed. These will police how you start and end the contract and control what procedures you can reasonably ask a tenant to follow.
The most important laws to consider when you are renting a property in Indiana include:
Security deposits: There is no limit to how much IN landlords may charge as a security deposit. This must be returned to the tenant within 45 days of vacating the property and returning the keys, as specified by Indiana law (IC § 32-31-3-9 and § 32-31-3-12). Landlords must also give advance notice of any deductions.
Landlord’s right to enter: Landlords can enter the rental property by giving a reasonable amount of notice, either written or orally. The exact amount of required days is not defined within the Indiana code (IC § 32-31-5-6), but most landlords give 24-hours notice and enter the flat during normal business hours.
Further contact details: If the property is managed by anyone other than the landlord, tenants must be provided with their contact details so communications to the landlord can be properly handled.
Indiana Residential Lease Agreement Sample
Before beginning the process of creating a residential lease agreement in Indiana it is sensible to review an example document first. Use our IN lease agreement sample below to find out more about the structure and contents of a fully-fledged rental contract.
FAQs About Indiana Lease Agreement
It is important to carefully prepare an Indiana lease agreement to suit the needs of the landlord and tenant exactly. To help demystify the process a little simply review our FAQs below to learn more about the specificities of rental contracts in Indiana.
How to Get a Lease Agreement in Indiana?
It is possible to create an Indiana lease agreement completely online. Using our residential lease agreement maker you can tailor your document for your specific needs and take advantage of professional templates and expert tips.
How to Write an IN Lease Termination Letter?
If either the landlord or tenant for any reason needs to terminate an IN lease agreement early, they must provide the correct amount of notice in a written Indiana lease termination letter.
This letter needs to contain the following information:
The name of the landlord and the tenant
The date the letter has been written and signed
The name and address of the property in question
Information explaining why the tenancy needs to be terminated early
The reason the lease is being broken
The date that the resident will vacate the property
Acknowledgment of any penalties that will be incurred
Signature of the signing party
Do I Need to Notarize my Indiana Residential Lease Agreement?
It is not necessary to notarize an Indiana residential lease agreement. However, whilst this might not be a legal requirement in Indiana state, signees are still advised to consider this step to provide further legal enforceability.