The City of Fishers conducted a housing study in 2022.  As part of the recommendations from that study, a rental registration program was proposed along with a cap on the number of single family home rentals per subdivision.

Since that study was released, Fishers has been working on the technology to setup a rental registration system.  The city is now poised to begin such as system and impose a 10% cap on the number of single family rental homes in a given neighborhood.  Current rental homes would be grandfathered-in as “legacy” and subdivision Homeowners Associations (HOAs) would be free to impose a lower percentage of rental homes in that subdivision.  The 10% proposed city ordinance would apply of the HOA has a higher percentage number.

Jordin Alexander, Chief of Staff to Mayor Scott Fadness, reviewed data with the Council, saying there are 2,522 single-family rental homes in Fishers now, which encompasses 8% of all single-family homes in Fishers and 30% of all rental units in the city.

Under the proposed ordinance, there would be registration and permitting requirements for property owners to convert a single-family home to a rental.

Alexander and Mayor Fadness outlined the proposal as a first step in a Council work session, asking for suggestions from Council members.  A proposed ordinance is expected to be presented to the Council for first reading in February or March.  It will take 1-3 months for ordinance approval.  Enforcement and registration would begin after a 10-12 month “introduction period” for the new law.

The Monday work session is the first step, now the mayor’s office and Councilors will begin work on drafting language for the new ordinance.