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Understanding Rental Lease Agreements In Indianapolis: What You Need To Know Before You Sign

April 10, 2024
Exterior view of The Hamilton Luxury Apartment Homes in Fishers.

Finalizing a contract to rent an apartment may seem daunting, particularly if it’s your first time. Although it’s factual some rental lease agreements in Indianapolis pack in more legalese than others, they are generally fairly straightforward. Take a moment to see what you can expect to find in a lease and what you ought to watch out for to protect your best interests.

What Are Typical Elements Of Apartment Lease Agreements in Indianapolis?

Fenced dog park at The District at Saxony Apartment Homes

All apartment lease agreements will feature the basics, like the cost of rent, the length of the contract, and the names of those who will live in the unit. You could also find other items about the community. Generally speaking, you can expect to see the following:

  • Names of Resident and landlord. In the great majority of contracts, the landlord will be called the “lessor” and the Resident as the “lessee.”
  • Property description. This info includes the property name, street name, and your apartment’s number. Within the agreement, it may be referred to as “the premises.”
  • Length of tenancy. The length of your lease is a vital detail. You should plan to find the beginning and end dates.
  • Names of inhabitants. Be ready to document all people who will live in the apartment.
  • Monthly rent. The contract will denote the cost of rent due each month. You will also see a due date, how to make payments, acceptable forms of payment, and information on late fees.
  • Security deposit requirements. The security deposit dollar amount should be documented. If there are extra charges like end-of-lease cleaning fees, they need to be documented as well.
  • Utilities. Each contract will indicate what utilities you are responsible for paying. The lease could also specify any other costs associated with your utilities.
  • Pet info. Your Indianapolis rental lease agreement will tell you if pets are welcomed, what sorts, and if there are size or weight restrictions. You’ll also see info about one-time or monthly pet fees.
  • Resident obligations. This section of the contract indicates your obligations, such as general maintenance tasks like changing light bulbs and disposing of garbage in authorized places.
  • Landlord expectations. This part lets you know what is expected to be handled by the housing provider, like plumbing, leaking roofs, and electrical repairs.
  • The above includes the basics, but you may also expect to find limitations on how you can use the property. For example, subleasing or utilizing the apartment for commercial ventures may be banned. Make sure you grasp the limitations, and don’t hesitate to ask questions.

    What To Beware Of In Indianapolis Rental Lease Agreements

    Clubhouse at Continuum apartments in West Lafayette

    If you’re renting at a well-regarded apartment community in Indianapolis, you won’t have to worry much about dubious clauses concealed in the agreement. But you should always be on the lookout. Here are a couple warning signals to be aware of:

    • Language in an agreement that permits changing of a lease. Avoid signing a contract that isn’t complete or permits a landlord| to make adjustments after you sign.
    • Lease agreements where tenants are obligated to handle all apartment repairs.
    • Agreed-upon terms aren’t recorded. For instance, if you agree to a lease less than the year or work out a smaller security deposit, make sure it’s in writing.
    • Sign Your New Lease At The Edge Apartments In Indianapolis

      Ready to find a new place to live? Schedule a tour at The Edge Apartments in Indianapolis and discover our roomy units and well-liked amenities. If you would like to ask about the lease, our friendly staff is standing by to help you. Reach out to 463-345-4399 today to learn more.