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Indiana Lease Agreement Templates (6)

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Indiana Lease Agreement Templates (6)

Updated August 04, 2023

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 (6)

Standard Lease Agreement – Most common type of contract with the time period being fixed. Usually a 12-month arrangement but can be any time period as determined by the parties.

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Commercial Lease Agreement – For any type of industrial, office, or retail space.

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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 month’s notice.

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Rent-to-Own Lease Agreement – Standard contract with the added benefit of having the right to buy the property during the term.

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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.

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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).

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Required Disclosures (2)

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.

Security Deposits

Maximum Amount – 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 landlord.

When is Rent Due? (Grace Period)

Rent is due on the day mentioned in the lease agreement. There is no statutory grace period in Indiana.

Late Fees

Maximum Penalty – There is no statute governing late fees. Therefore, the landlord may charge as much as desired.

NSF Fee (§ 24-4.5-7-202) – $25 is the maximum amount that can be charged for a bad check.

Right to Enter (Landlord)

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.

Resources

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