Beginning January 1, 2015 if you own one or more rental properties in Marion County, you will be required to register with the City of Indianapolis. You will have to provide the following info:
Owner name
Owner address
Owner phone number
You will have to pay a $5.00 annual registration fee. If you have multiple properties, you can register all of them at the same time for just $5.00. If you register them separately - you will be paying $5.00 each.
Landlords will have to affirm that they do not have any unpaid taxes or unremediated code violations.
Failure to register may result in a $500.00 fine!
Details on how and where to register will be made available at a later date - so stay tuned for that info.
This proposal was opposed by MIBOR (Metropolitan Indianapolis Board of Realtors) believing this data already exists in government records and the impact of addressing problem properties will be minimal. The ordinance did pass - but there were some positive revisions achieved by their input:
Removed requirement that landlord provide Tenant Bill of Rights to tenant
Removed requirement to include copy of lease with registration
Removed requirement for landlord to provide an email address
Inserted language allowing for non-physical address for landlord
Capped fees at $5.00 per year
A big amendment achievement was inclusion of measurements and accountability. The new ordinance will require the Department of Code Enforcement (DCE) to annually report to the council the outcomes of the registry along with recommendations that may include the elimination of the registry if it shows not to be effective.
#Landlord #Realestate
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