Guilderland adds $5,000 bond to vacant property registration ordinance
Guilderland, NY: To further encourage vacant property owners to find occupants, or at least keep those properties well-maintained, the town council unanimously embraced an expansion to the registration ordinance involving a $5,000 bond.
The vacant property registration currently requires owners to register a property within 10 days of vacancy, and to provide follow-up registration information after six months thereafter. No fee is involved with registration, though failure to register within the timeframe provided can be $100 per day on noncompliance.
The new $5,000 bond is a safety net for the city to ensure if a property owner allows a property to decline—overgrowth, structural dilapidation, safety risks, etc.—the decline can be readily addressed by dipping into the bond fund.
In addition to the $5,000 bond, property owners must have $150,000 liability insurance for a given vacant property. Bonds must be restocked if the city is forced to use all funds provided to maintain a property.
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