This office lease provision states that Base Rent shall be $25.50 per rentable square foot. During the Renewal Term, Base Rent shall be increased by the change, if any, in the Consumer Price Index. In no event will the Renewal Rental Rate be less than the Base Rent.
Indiana Provision Calculating the Rent Increase
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US-OL24017D
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How to fill out Provision Calculating The Rent Increase?
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FAQ
It's legal for a landlord in Indiana to raise rent by any amount they see fit ? there's no state-wide cap. However, they should wait until the end of the lease before raising rent unless the rental agreement explicitly allows a rent increase before that time.
Indiana Code § 32-31-5-4. Written Notice Required to Modify Rental Agreement :: 2022 Indiana Code :: US Codes and Statutes :: US Law :: Justia.
CPI stands for Consumer Price Index. Many leases indicate that rent prices will rise at the same rate as the CPI with adjustments made on an indicated basis. Some leases use other price indexes instead of the CPI. The Consumer Price Index usually publishes data for specific geographic regions.
The Indiana landlord-tenant laws specify that tenants have the legal right to seek habitable housing without any kind of discrimination against them. Additionally, they have the right to request repairs for any damages that the premises have sustained.
Your landlord cannot turn off your utilities. You have the right to privacy in the rental premises. Your lease agreement likely says when your landlord may come into your home. Usually, lease agreements say that your landlord may come in to do emergency repairs, routine or needed maintenance, and inspections.
As used in this chapter, "retaliatory act" means any of the following actions taken by a landlord in response to a tenant's engaging in a protected activity: (1) Increasing the amount of the tenant's rent. (2) Decreasing, terminating, or interfering with services provided to the rental premises.
Landlords are typically required to give proper notice to their tenants if they plan on entering the property. If they do not give this notice, then they do not have legal access to enter the property. If a landlord does enter the tenant's unit without notice, especially more than once, it is considered harassment.
It's legal for a landlord in Indiana to raise rent by any amount they see fit ? there's no state-wide cap.
