An Indiana lease agreement is a contract between a landlord and tenant for the renting of commercial or residential property. The tenant will view the property and, if interested, will negotiate with the landlord. After a deal has been reached, the landlord will verify the tenant’s credit and income. Once approved, the landlord will devise a lease to be signed by both parties.
Rental Application – Used to screen and ensure that a potential tenant is the same person they claim to be when applying to use the space.
Table of Contents
- Agreement Types (7)
- Disclosures
- Access
- Security Deposits
- Laws
- (Video) What are the Indiana Rental Laws?
Agreement Types (7)
Commercial Lease Agreement – For any type of industrial, office, or retail space.
Download: Adobe PDF, MS Word (.docx), OpenDocument
Lease with Option to Purchase (Lease to Own) Agreement – Standard contract with the added benefit of having the right to buy the property during the term.
Download: Adobe PDF, MS Word (.docx), OpenDocument
Month to Month Lease Agreement – A type of contract that allows either party, landlord or tenant, to rent a residential property and have the option to cancel at any time with at least one (1) month’s notice.
Download: Adobe PDF, MS Word (.docx), OpenDocument
Room Rental (Roommate) Agreement – To be written with all the members of a housing unit that is split between individuals that rent bedrooms and share common space such as bathrooms, kitchen, living room, etc.
Download: Adobe PDF, MS Word (.docx), OpenDocument
Standard Lease Agreement – Most common type of contract with the time period being fixed. Usually, a twelve (12) month arrangement but can be any time period as determined by the parties.
Download: Adobe PDF, MS Word (.docx), OpenDocument
Sublease Agreement – Allows a tenant to get someone else, known as a sub-tenant, to rent the space they are under agreement for until the end period or any other time as agreed upon. Usually, the landlord will need to sign-off on any new sub-tenant(s).
Download: Adobe PDF, MS Word (.docx), OpenDocument
Termination Lease Letter (30-Day Notice) (§ 32-31-1-1) – Allows a landlord or tenant to terminate a month-to-month rental by use of sending this document with at least thirty (30) days’ notice to the other party.
Download: Adobe PDF, MS Word (.docx), OpenDocument
Disclosures
Lead-Based Paint Disclosure – Under federal law, if the landlord’s property was built before 1978 it is mandatory that the disclosure form be attached, initialed, and signed by the lessee.
Managers and Agents (§ 32-31-3-18) – The landlord must disclose the name of the person allowed onto the premises in addition to an address for notices and repairs.
Access
According to § 32-31-5-6, a landlord may not enter the space for any non-emergency-related use without giving reasonable notice either written or orally.
Security Deposits
Maximum – There is no State cap. The landlord may ask as much as desired from the tenant.
Returning (§ 32-31-3-12) – All landlords are required to hand over the money back to the lessee within forty-five (45) days from the termination of the lease and delivering the property back to the lessor.
Laws
Commercial – Title 26, Article 1, Chapter 2.1
Residential – Title 32, Article 31 (Landlord-Tenant Relations)