[WSBARP] King County Ordinance 19118 enacted June 23 - residential and "small commercial" tenants
Kary Krismer
Krismer at comcast.net
Thu Jul 2 12:41:07 PDT 2020
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
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