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Old 12-18-2016, 11:30 AM
 
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Hi, Does anyone know anything about Fountaintown IN? I'm an out of state investor looking to invest in a rental property in the city. Thanks!
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Old 12-18-2016, 11:46 AM
 
Location: Bloomington IN
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Before you consider investing in rental properties in Indiana, you should be well-versed in Indiana tenant/landlord laws. Of particular importance to out of state investors is the requirement that either you, as the owner, reside in the state or you have a fiduciary agent that resides in the state. Absentee landlords are illegal in the state.

Indiana Landlord Tenant Law IC 32-31-3-18 requires landlords to “disclose and furnish to the tenant in writing at or before the commencement of the rental agreement the names and addresses of the following:

(1) A person residing in Indiana who is authorized to manage the dwelling unit.

(2) A person residing in Indiana who is reasonably accessible to the tenant and who is authorized to act as agent for the owner for purposes of:

(A) service of process; and

(B) receiving and receipting for notices and demands.”
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Old 12-18-2016, 02:36 PM
 
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I'm planning on hiring a management company. Does that qualify?
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Old 12-18-2016, 03:55 PM
 
Location: Bloomington IN
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Yes, that is considered an "agent."
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Old 12-27-2016, 07:32 AM
 
Location: Central Indiana/Indy metro area
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I grew up close to Fountaintown. Fountaintown is a small cluster of a few new, mostly older homes and buildings (some vacant and run down) near the intersection of US 52 east of Indianapolis and Indiana State High/Road 9 between Shelbyville and Greenfield. It is unincorporated but has a volunteer (likely all volunteer) fire department. I don't know if the township is over the fire department or not. So basically everything local government wise is likely either not-for-profit (possibly the fire department), township, and/or county.

With that being said, you should understand that the Fountaintown post office serves a very large area extending into NW Shelby County. The post office serves an area to the west that basically extends to I-74 in some areas. Please note that the boundary lines between the postal service between what is served by Indianapolis, Fountain, and Fairland will vary by just a county or town road. For reference, the area known as Pleasant View, just off an I-74 interchange, is served mostly by either Indianapolis or Fairland post offices even though the area isn't in either of these municipalities. However, within a mile, maybe less, properties are served by the Fountaintown post office. The Fountaintown post office basically serves areas ten to eleven miles away from what many would consider the actual town proper.

Depending on what property type you plan on buying, those near I-74 might be a better option than those closer to the actual unincorporated town of Fountaintown. Properties near I-74 are near two interchanges and allow quick access to Indianapolis. Those properties closer to the actual post office (the traditional town area) might not be as easier to rent out, though they still allow for a fairly easy drive into Indianapolis (as well as Greenfield and Shelbyville).
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