The Village of Round Lake Beach has approved a series of changes to long-standing property regulations that will positively impact home buyers, home sellers, housing providers and REALTORS® in the community.
This action comes after months of discussions between Government Affairs staff, REALTORS®, village staff and acting Round Lake Beach Mayor Scott Nickles. The changes impact presale occupancy inspections, rental inspections and foreclosed and vacant property registry.
Presale occupancy inspections
For years, the village has required occupancy permit inspections prior to closing. The changes enacted will still require a new occupancy permit and related inspections prior to closing. However, proof of an inspection by a licensed home inspector will satisfy the inspection requirement. As such, any buyers hiring a home inspector will simply need to provide proof it was completed. The village will continue to inspect water meters prior to closing. Once issued, the occupancy permits will be valid for 45 days to accommodate closing times.
Rental inspections
The village currently requires rental properties to register annually and submit to annual inspections. With the changes enacted, inspections will now occur at change of tenancy or every four years, whichever is sooner. The change dramatically reduces the burden on village staff, property owners and tenants alike.
Registration of foreclosed and vacant properties
Several years ago, the village began a registration program for all properties that are vacant and/or pending foreclosure action. REALTORS® have long argued the requirements to register a foreclosure only increases the strain on homeowners already facing financial difficulty. We believe registration costs and additional inspection requirements exacerbate the hardships of distressed homeowners. With the recent changes, Round Lake Beach will now exempt registration and inspection requirements for occupied properties subject to a foreclosure action.
More information will be coming as village staff implement new processes and procedures to accommodate these new policies. If you have questions or comments, contact Joe Roth, Local Government Affairs Director.