Sublease Contract – Allows a tenant to bring another person known as a subtenant to rent the space for which he is under contract until the end of the period or for any other agreed period. As a general rule, the landlord must register for each new tenant. There is no fixed dollar amount or percentage of the rent set by the state for late fees. All fees for overdue payments should be set in the lease agreement. Step 2 – The second paragraph or “rental offer” gives you the address and the city where the property is located. Then enter the start date of the lease and the date of termination of the lease. Several factors must be involved in the success of this agreement. First, this agreement must be signed and dated to be binding. Of course, each of the negotiated points must be discussed, understood and to us by all parties involved before signing.
Once this contract is signed, it becomes a legally binding contract for the deadline it has declared effective. The Indiana code does not limit the amount an owner can charge for the upfront cost of a deposit. (The cost of the deposit must be specified in the terms of the lease before the lease begins.) Sublease Contract – Requires the landlord`s agreement to allow the current tenant to “sublet” the property/unit to a secondary tenant (known as a subtenant or subtenant). A lessor is required to return within forty-five (45) days following the expiry of the tenancy agreement a deposit as well as a broken list of damages and, if applicable, costs. (IC 32-31-3-12 to 32-32-3-14) For buildings and housing units in flood-prone areas, Indiana homeowners are required to disclose to tenants in the lease the risk of flooding to which they are exposed. This is the case when the lower floor of the building falls below the flood limit for the area and all tenants must be exposed in the same structure, not just those directly in the flood zone. Subsequent declarations and improvements to leases are not required in leases under Indiana law, but they do contribute to either reducing future disputes with tenants or reducing the legal liability of landlords. Lead-Based Paint (42 U.S. Code ` 4852d) – Specific to the rental of residential real estate built before 1978, this disclosure must contain all known information about the presence of lead-based colour hazards within the boundaries of the residence, as well as information explaining the dangers of exposure to toxic materials. Lead-Based Paint – Mandatory for all dwellings built under federal law before 1978; informs the tenant of the presence of toxic paint. The landlord is required to return the deposit to the tenant within 45 (45) days from the end of the tenancy period. If deductions were required for property damage, overdue rent, unpaid electricity bills, etc., the lessor must provide a broken list of deductions as well as the rest of the deposit.
It is very important that you familiarize yourself with the specific requirements and laws of Indiana in order to create a complete and comprehensive lease. A better understanding of these laws will allow you to better protect your future financial and legal interests and perhaps even prevent future litigation.