The Indiana Self Storage Association, together with the national Self Storage Association, has worked on a number of issues to protect and improve your regulatory arena. In recent years the INSSA worked to have lien law provisions updated.
Indiana Lien Law
- Permits lien notices to be sent by either verified mail (any method of mailing that provides evidence of mailing) or electronic mail.
- Allows the operator to choose between advertising the lien in a newspaper of general circulation or in any other commercially reasonable manner that is likely to attract at least three independent bidders to the sale..
- Allows for an auction to be held online.
- Permits the towing of motor vehicles and water crafts when rent is 60 or more days past due.
- Provides a safe harbor for late fees up to $20 or 20% of monthly rent, whichever is greater.
- Allows the operator to include in the rental agreement a limitation on the value of stored property, which is considered the property's maximum value.