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Jun 27, 2019 at 12:42 pm
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1101 East Pike St. Suite 300, Seattle, WA 98122
1101 East Pike St. Suite 300, Seattle, WA 98122
If a tenant damages the apartment or fails to pay the rent, are they going to be liable to the landlord for 4.5 times them monthly rent? Hmmm.
Ah, the concern (trolling) is strong in these ones...
@3- @1 is merely making the point that landlords are likely to be more careful about who they rent to as tenants get more and more protections in terms of staying put even if they are late on rent etc. That means they'll be looking for higher credit scores (in other words, a record of paying one's bills), wanting to see higher incomes to qualify for a given rent, and being stricter about getting references from prior landlords. Those things make it more difficult for people who are poorer or have black marks on their record to rent an apartment.
My wife and have a few rentals in Seattle and our rents are consistently lower than market. We have great tenants and only once in twenty years did we terminated a lease. We actually moved into the apartment per the just cause eviction law and the city sent an investigator to confirm (they did their job). Recent Landlord tenant laws narrow our ability to screen tenants more holistically while restricting our ability to terminate problem tenants. Our experience is problem people impact the landlord and the other residents. These days tenants are referred to us and we don't even have to advertise. Given economic disparity among race and culture we have less tenant diversity. It is unfortunate.
I know it's well intended, but I doubt this will have the expected outcome. Small owners will sell to developers or larger property managers, and I think the overall stock of affordable housing will go down. If the government wants to interfere, they should just build public housing and run it themselves.