[WSBARP] King County Ordinance 19118 enacted June 23 - residential and "small commercial" tenants

[Kary Krismer]

I don't know if this is a concern or a prediction, but I see this 
reducing the supply of rental properties long term, particularly single 
family residential houses.  And as proof every cloud has a silver 
lining, it's a lot easier now to convince someone to take advantage of 
the sale of house tax exemption rather than retaining the old house and 
becoming a landlord.  But beyond fewer new landlords I suspect a lot of 
small landlords will throw in the towel as soon as they can.  Affordable 
housing will likely suffer.

Has anyone heard whether multi-unit financing has been affected? How 
could a bank loan on a property that potentially has no income?  How 
would appraisals be impacted?

Kary L. Krismer
John L. Scott, Inc.
206 723-2148