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IN HB1194
Bill
Status
3/8/2018
Primary Sponsor
Mike Speedy
Click for details
AI Summary
HEA 1194 Summary
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Amends Indiana Code Chapter 26-3-8-11 concerning self-service storage facility liens, effective July 1, 2018.
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Allows facility owners to impose monthly late fees on delinquent renters not exceeding the greater of $20 or 20% of monthly rent.
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Permits owners to recover all reasonable costs and expenses for rent collection and lien enforcement resulting from renter default.
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Requires rental agreements to include bold-type notification of the lien's existence and the owner's enforcement methods.
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Clarifies that owner liens include late fees, rent collection costs, and lien enforcement expenses as recoverable items.
Legislative Description
Delinquent self-storage facility rents. Amends the statute concerning self-storage facilities to allow a facility owner (owner) to impose and collect from a renter a late fee that does not exceed the greater of: (1) $20; or (2) 20% of the monthly rent; for each month the renter is in default under the rental agreement. Authorizes an owner to recover from a renter all reasonable costs and expenses of: (1) rent collection; and (2) lien enforcement; incurred by the owner as a result of the renter's default. Specifies that an owner's lien under the statute includes a lien on the renter's
Last Action
Public Law 36
3/8/2018