Indiana Lease Agreement Template – Forbes Advisor


Published: Nov 7, 2023, 3:59am

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A lease agreement is the document created when a landlord enters into a contract with a tenant to rent property.

This article will break down all the requirements and tell you what you need to know to create a binding rental contract in Indiana. One of the best ways to ensure you understand how a document works is by looking at a template. You can enter your email address below to get a free lease template in your inbox.

Basing your lease on this document can help you ensure you create a legally binding document.

What Is a Lease Agreement?

A lease agreement is a legally binding contract between a landlord, who owns a property, and a tenant, who intends to occupy the property for a specified period. This agreement outlines the terms and conditions governing the rental arrangement. It typically includes details such as rent amount, payment schedule, security deposit, lease duration, rules for property use, maintenance responsibilities and procedures for dispute resolution.

It serves as a comprehensive document that safeguards the interests of both the landlord and tenant. It establishes a framework for the rental relationship, ensuring clear communication and minimizing potential conflicts. A rental contract helps create a legally sound arrangement by clearly outlining expectations and obligations.

When Is a Lease Agreement Used in Indiana?

A rental agreement is used when a property owner wants to rent their property to a tenant. While it is legal to have an oral lease agreement in Indiana—as long as the lease is for less than three years—having an agreement in writing is usually a good idea.

Without a written document, it could be challenging to prove that the other party isn’t honoring your agreement, and it may be more difficult to hold them accountable.

Who Typically Creates a Lease Agreement?

The landlord usually takes on the responsibility of writing the residential lease. This makes sense, as one of the critical elements of a written rental contract in Indiana is a description of the property, and tenants may not be familiar enough with the rental property when they begin a new lease.

There is no requirement, however, that the landlord write the lease. Tenants can draft a residential lease themselves. In either case, both parties can negotiate the lease terms before signing, though this is more common in commercial than residential leases.

What Parties Are Involved in a Lease Agreement?

The parties to a lease are:

  • The landlord—or lessor—owns the property. They can be an individual, multiple people or a company.
  • The tenant—or lessee—wants to use the property for the lease term. Just like the landlord, tenants can be people or, usually in commercial leases, companies.

In some instances, the landlord may require a cosigner or guarantor to also be party to the contract. The cosigner agrees to accept responsibility for complying with the lease if the tenant can’t. Usually, this means that the cosigner or guarantor will pay the rent if necessary.

What Should Be Included in an Indiana Lease Agreement?

Under Indiana law, a lease agreement has to include:

  • A clear demonstration that the landlord and tenant intend to create a landlord-tenant relationship
  • Identification of all parties
  • A description of the property
  • The amount and term of the rent.

The description of the property can be as simple as the address.

In addition to what’s required to form a written lease in Indiana, it’s a good idea to include many other elements.

The landlord should, for example, be sure to include things like how the rent should be paid, what the penalty is for late or missed payments and any other tenant responsibilities.

The tenant, on the other hand, would want to know:

  • How much notice they need to provide if they want to renew at the end of the lease,
  • When the landlord might ask for access to the property or
  • How to reach the landlord or their agent when something breaks.

Frequently Asked Questions (FAQs)

How much can a landlord increase the rent in Indiana?

There are no caps on how much a landlord can increase the rent in most states. In Indiana, there are no rent controls. Indiana law requires 30-days notice for rent increases, but the landlord can raise the rent to any amount.

What rights does a tenant have in Indiana?

A lease in Indiana is a contract between the tenant and landlord. Like any contract, both parties can negotiate the terms—at least in theory. In practice, landlords may be unwilling to alter their residential lease.

It doesn’t hurt to ask, however. It’s also important to know that a lease can’t contain terms that are illegal.

Does a lease need to be notarized in Indiana?

An Indiana lease does not need to be notarized to be valid and enforceable. In fact, notarizing a lease is extremely rare—increasingly so as more and more residential leases are e-signed.

Lease Agreements By State

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Adam Ramirez has been writing and editing about the law and legal issues for more than 20 years. After earning a law degree from the University of Arizona, he clerked for two years for a U.S. District Court judge. He researched and wrote legal precedent in published opinions on behalf of the Court. He previously was an editor, columnist and journalist at the Miami Herald, The Dallas Morning News, The Oregonian, Golf Digest, FindLaw.com and other media outlets.

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