Have you ever walked by a building, seen the “Managed by X” plaque out front, and wondered why so many buildings have those signs? It’s good advertising, of course. But property management companies don’t just do this voluntarily.
Most major cities have a code that requires the owner of a building (or their agent, though frequently this falls on the property management company) to be clearly posted on the outside of the building.
The rule for Chicago states:
The owner of any building having residential units designed or used for two or more family units or designed or used for sleeping accommodations, other than family units, for more than ten persons shall post, or cause to be posted, in a prominent place in a common area of the building accessible from the public way, or affixed to the building so as to be visible from the public way, the name, address, and telephone number of the owner, his agent for the purpose of managing, controlling or collecting rents and any other person managing or controlling such building.
The rule doesn’t clearly state why this is a requirement, but it most likely has to do with the fact that large buildings are public spaces that many residents and non-residents interact with. The city government wants transparency about who a resident or passerby can turn to in case of issues related to the building such as safety concerns, liabilities, or other important questions.
Have a further question about this rule? We’re happy to discuss. Get in touch with us!