Across the country local and state governments are enacting laws aimed at minimizing the eyesore of foreclosed homes, according to USA Today. Properties in foreclosure are often left uncared fore and fall into disrepair, leaving local municipalities with the responsibility of maintaining the property.
In Chicago, owners can use plywood to board up windows and doors for only six months. They must use real windows and metal doors if the home is vacant longer than that and install an alarm system. Garland, Texas requires a $2,500 bond from the property owners, which the city can access to maintain the home as needed.
We have not seen any new legislation come out pertaining to foreclosed homes in Cincinnati. Beyond discouraging squatting maintaining foreclosed homes in good order helps to keep the value of neighborhoods at fair market levels, a good proposition for all involved.
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