Carmel and Fishers Rental Ordinances

Apparently, the local governments in Carmel and Fishers are concerned about the many out of state landlords that are buying houses in Hamilton County. Both passed ordinances last year limiting the number of single-family rental properties in their subdivisions. In my opinion these ordinances may possibly reduce the number of out of state landlords from buying houses in Hamilton County but would also inadvertently stop renters from being able to live in certain areas. My question is, could that be the actual reason for passing these ordinances? Are Fishers and Carmel trying to use different wording to get the actual result that they’re seeking? This is yet to be seen.

Fisher’s is the first city in Indiana to pass such a cap, and Carmel followed. The ordinance limits rentals to 10% per subdivision and requires landlords to register their property as rental with the city.

House Bill 1210 has a provision that states that “A unit may not adopt or enforce an ordinance, resolution, regulation, policy or rule that prohibits or restricts an owner of a privately owned residential property from using the property as a rental property.” This amendment was introduced in January and passed in February.  The mayor of Fishers, Scott Fadness stated that 1/3 of single-family rental properties are owned by out-of-state investors. He believes that the rental cap is to increase the much-needed housing supply for prospective homeowners, which should in turn bring down prices for first time home buyers. This battle is to be continued….