From unruly tenants throwing wild parties to well-intentioned but forgetful renters missing their payment deadlines, lease enforcement can sometimes feel like herding cats.
There's so much you need to handle! How do you get started? We're here to help.
Let's go through what Indiana landlords need to know about lease enforcement.
Have a Strong Tenant Lease Agreement
Start by including essential terms such as everyone's name, your rental property address, lease term, rent amount, due date, security deposit details, and rules regarding pets, smoking, and property maintenance. When everything is clear, it'll be easier for you to keep great tenants locked in.
Define how the rental property can be used. Include any restrictions on alterations, subletting, or Airbnb rentals. Periodically review and update your lease agreement to reflect any changes in laws, policies, or property-related matters.
Enforce Lease Terms
Once everyone is on the same page, it's time to enforce your tenant lease. If a tenant is late with rent payments, follow the procedures outlined in your signed lease agreement.
Send written notices for late payments, clearly stating the amount due, any applicable late fees, and the deadline for payment. If the issue persists, consider escalating to eviction proceedings as allowed by Indiana law.
Fulfill your responsibilities regarding property maintenance and repairs promptly. Respond to maintenance requests from tenants in a timely manner and document all actions taken. Failure to address maintenance issues could lead to lease violations on your part.
Hire Property Managers
Don't be afraid of getting professional help with lease enforcement. Property managers know all about landlord-tenant laws, including those specific to Indianapolis.
They can ensure that lease agreements and enforcement actions comply with all legal requirements, reducing the risk of legal disputes or penalties.
Property managers can conduct proper tenant screenings. That will include background checks, credit checks, and rental history verification. This helps landlords find reliable tenants who are more likely to comply with lease terms, reducing the need for enforcement actions.
Document Everything
Maintain detailed records of all communication with tenants regarding lease enforcement issues. This includes written notices, emails, letters, text messages, and phone call logs.
Document the date, time, nature of the communication, and any agreements or resolutions reached.
Ensure that all documentation is accurate, consistent, and organized. Use a reliable filing system or property management software to store and manage documents securely.
Maintain detailed records of security deposit transactions, including the amount deposited, date received, tenant's signature acknowledging receipt, and any deductions made at the end of the tenancy. Provide tenants with a proper list of deductions as required by law.
Lease Enforcement in Indiana: Now You Know
Indiana lease enforcement can be complicated. Now that you know the basics, it should be easier to protect your new rental property empire.
Are you ready to hire property managers in Indianapolis? PMI Midwest should be your first stop. Our franchise's twenty-plus years of experience have helped us understand that property management isn't one-size-fits-all. It requires the customized experience we can provide.
Contact us today.
