Fishers staff proposes rental-registration system and 10% subdivision permit cap for single-family rentals

City staff presented a proposal to create a rental-registration program and a subdivision-level cap on permitted single-family rental units during the Fishers City Council meeting on Jan. 13, 2025.

The proposal, led by Jordan (city staff member), would require owners of single-family homes used as rentals to register and receive a permit to operate. Jordan said the city would use new software that combines county homestead exemption data and rental listings to maintain a real‑time inventory of single‑family rentals. Jordan told council the software shows "just over 25,100 single family rentals in Fishers," which she said represents about 8% of single‑family homes and roughly 30% of all rental units in the city.

City leaders said the software also identified ownership patterns that motivated the proposal. Jordan said nearly half of single‑family rental properties are owned by out‑of‑state landlords and about 25% are held by institutional investors (which the staff memo defines as companies owning 1,000 or more units nationwide). The administration argues those trends make a proactive…