Glossary

Vacant property registration

A local ordinance requiring owners, and sometimes lenders, to register a vacant building with the city, pay a fee and keep it secured.

Definition

Vacant property registration is a local ordinance that requires owners, and sometimes mortgage lenders, to register a building with the city once it becomes vacant. Registration usually means paying a fee, naming a local contact, carrying insurance, securing the building and allowing inspections.

Chicago is a common example. Its ordinance requires owners to register a vacant building within 30 days after it becomes vacant or after they take ownership, and to renew every six months while it stays empty. Rules, fees and the definition of "vacant" vary widely by city, and some registries are searchable online or available through a public records request. For investors, a registry is a list of empty buildings with owner contact details attached. Many registered owners live out of state, are estates or are lenders holding foreclosed homes. A building that stays on the registry for years often carries code violations and municipal liens too.

Source: chicago.gov

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