New Ordinance Aims To Establish Standards For Rentals

Photo credit: www.third-estate.com

Photo credit: www.third-estate.com

As many renters can attest, conditions in rental units can vary widely among properties, and getting repairs done can sometimes turn into a lengthy process, depending on the responsiveness of your landlord. The City of Seattle’s recently instituted Rental Registration & Inspection Ordinance is aiming to alleviate some of the worst conditions in rental properties in the city, after learning through the 2009 American Housing Survey that 10 percent of rental housing in the Seattle area has “moderate to severe” physical problems.

The ordinance will require all rental property owners to register their properties and hire either a City or private inspector to ensure their property is meeting minimum standards in areas such as smoke/carbon monoxide detectors, making sure broken or leaking windows, walls, and roofs are repaired, and making sure each unit does not have insects or rodents. The city has begun accepting registrations for properties, and registration will continue through 2016. Properties will be inspected at least once every 10 years thereafter.

According to The Seattle Times, owners are not required to register some types of rental properties, including units owned or managed by the government or a housing authority; housing associated with nursing homes and hospitals; transitional housing; housing associated with a religious order; or short term rentals such as vacation rentals and hotel rooms. The city is hoping this program will preserve quality of life in neighborhoods by educating all parties involved in renting units – landlords, renters and inspectors – to ensure everyone is on the same page in terms of what maintenance standards should be met.

For more information about Seattle rentals contact your local real estate agent today.

Belltown Condo Rental: $1,400

belltown rental home

Have you been searching for an affordable rental in Belltown with a view? Check out this Belltown studio rental in the much sought after Avenue One building, now available. This contemporary rental features a gourmet kitchen with a gas range, granite counter tops and all stainless steel appliances. Avenue One is in close proximity to the Sculpture Park, Seattle Center, shopping and very convenient to Downtown, Queen Anne, and South Lake Union. Building amenities include concierge, an entertainment room, access to the athletic center and a beautiful shared rooftop deck. If you’re interested in this, or other Seattle rentals, contact your local real estate agent today.

Status: For Rent
Bed//Bath: Studio/1
Price: $1,400

Living in Tight Quarters: 2,400 Micro-Apartments Planned in Seattle

Apodments, or micro-apartments have been trending in Seattle’s rental realm over the past year, with 700 units built in the city limits thus far. These mico units have appealed to the carless city dwellers who can fit the majority of their belongings in a 100-185 sf space. According to the Seattle Pi, that is roughly the size of a city parking space. apartment

An estimated 2,400 additional units are in the works for the city of Seattle, in different stages of planning and permitting. The growing popularity of these units has caused a debate over whether these units are opening up opportunities for more affordable housing, or if they’re causing a surplus of tenants to migrate into already crowded neighborhoods. Seattle micro-units generally range from 100-185 sf, cost around $660/month, and usually a private bathroom, but many do not have kitchens or full kitchens. For more information on Seattle rentals, visit your local real estate agent today.

Seattle Rentals April Real Estate Recap

King County rental activity dipped in April, compared to March with 306 leased properties, according to stats from the Northwest Multiple Listing Service.  However, this number ticked up from the same time last year, which was 295 leased properties in King County.  The market continues to stay strong, with 68 available properties within 6 miles of the downtown core with high price tags-the highest asking rent priced at $12,000 for a 2 br/2 bath penthouse in Belltown.

bellevue home

Rents continue to increase as the Seattle vacancy rates remain at a low 3.6%, according to an article from Seattle Rental Group.  This is up just .07% from the same time last year. For more information about Seattle rentals, contact me at anytime.

Belltown Rental: $2,000

ridge belltown

This Belltown condo rental is in a great location,  with beautiful view of Downtown and partial views of Lake Union. Features include high ceilings in living room and bedroom, and large windows that allow plenty of light. The sizable living room has an eating space, and kitchen has granite counter tops, wood floor, stainless steel appliances and beautiful wood cabinets. Bedroom has 2 closets and view of the lake. The building amenities feature 24 hour concierge, security, pool, sauna, fitness center and an entertainment room. Rent includes water/sewer/garbage, parking and storage.If you’d like more information on this unit, or other Seattle rentals, contact your local real estate agent today.

Status: For Rent
Bed//Bath: 1//1
Price: $2,000

The Importance of Renter’s Insurance For Renters and Landlords

There is one thing that seems to be very agreeable for both renters and landlords, and that is the necessity of renter’s insurance. It is likely that disputes among renters and landlords will arise in terms of damage to the property and repairs, but having renter’s insurance in place can protect both the tenant and the landlord. Renter’s insurance will protect the tenant’s assets and ensure safety of the tenant, thus keeping the tenant happy throughout the term of the lease. This will keep the tenant paying their rent on time, keeping the landlord satisfied.

shorewood

While renter’s insurance seems like an obvious choice for many, only 35% of tenants seem to be purchasing renter’s insurance, which fails in comparison to the percentage of those who purchase homeowner’s insurance- nearly 96% of homeowners. In the event of theft, renter’s insurance is helpful for tenants by the insurer covering the cost of stolen items claimed by the tenant. The insurance is also helpful for the landlord, because if the tenant did not have insurance, it is less likely that the tenant would be able to afford to replace all of the stolen items and afford to pay rent. The tenant might even have to break the lease, leaving the landlord with a vacant property. If you haven’t looked into rental insurance, consult with your current car insurance company today- they likely bundle for renter’s insurance as well. If you’re interested in Seattle rentals, contact your local real estate agent today.