CARMEL, IN Carmel and Fishers' new rental ordinance could limit housing options for renters who need them most, according to local real estate professionals who work with single-family rental properties.

The ordinance, which WRTV first reported on when it was originally proposed a couple of months ago, targets single-family rental properties in the city. It states that no more than 10% of homes in a subdivision can be eligible for rental.

Carmel is currently holding a registration process so that homes that are currently being rented, even if they exceed the 10% limit, can be grandfathered in.

City leaders in both communities have told WRTV the move was in response to a growing concern that large investment firms were buying homes around Carmel and Fishers.

Carmel City Council member R

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