Q: Where do I go to find out more about rent increases?
A: Under the terms of the Indian Trails lease, residents’ rent is reviewed annually. Based on changes in the Chicago Consumer Price Index during the prior year, rent is adjusted. Rent can increase by less than the amount calculated under the formula, but not more.
Q: What about taxes?
A: Indian Trails residents pay two annual taxes. A tax on homes is paid directly to McHenry County at the rate of $.15 per square foot for a new home, which declines at $.015 per square foot three years later and on each succeeding three-year anniversary until it reaches $.075 per square foot. People 65 and older pay 80% of applicable rate. In addition, Indian Trails passes through to residents the portion of its real estate tax bill attributable to their garages, decks, sidewalks and other improvements to their lots. Typically, these two taxes would total less than $500 per year.
Q: How long is my lease term?
A: Residents can choose a lease term of 2 to 5 years. Whichever term is chosen, the lease automatically renews for a second term of equal length when the first term expires, if the resident is in compliance with its terms. Regardless of the length of the lease, rent is adjusted annually.
Q: Who maintains my yard and removes snow from my driveway and sidewalks?
A: Residents remain responsible for these tasks. Indian Trails removes snow from the streets (plowing it into the boulevards, rather than drives), maintains the boulevards and other common facilities.
Q: Tell me more about the age restrictions…
A: Generally Indian Trails is a community for those 55 and older. However, as long as Indian Trails has 80% of its homes occupied by a resident who is 55 or older, homes may have an owner who is 45 or older. While they may visit for up to 2 weeks at a time, no one under 25 may be a permanent resident of Indian Trails.
Q: May I keep a pet?
A: Pets are welcome, if registered with the Manager, as long as they do not disturb neighbors and are confined to the owner’s yard.
Q: May I rent my home to another?
A: To assure that Indian Trails remains an attractive residential community, all Indian Trails homes must be owner occupied (although not all owners must live in the home).
Q: May I fence my yard?
A: Except for “invisible fences” installed for pet control purposes, and patio privacy panels, Indian Trails yards must remain unfenced.
Q: What other restrictions apply to Indian Trails residents?
A: In addition to the Lease and Community Standards, Indian Trails residents are subject to all governmental laws and regulations.
Q: What if Indian Trails is sold while I am a resident?
A: A buyer would be required to honor the terms of each resident’s lease, or strike an acceptable bargain to persuade the resident to leave.
