[WSBARP] Federally backed mortgages and evictions

[Mark McClure]

I have two rental homes and a third we are getting ready.  I don't want to
sell into this market, but when it recovers I am out.  We are charging
clients an arm and a leg to rid of difficult tenants because of the extra
time, effort, and liabilities involved with evictions.  The amended UD laws
are a huge magnifying glass of liability for the homeowner/landlord and the
legal fees and repair costs of one bad tenant can wipe years of rental
profits (if any) out.

Mark C. McClure
Managing Attorney
Law Office of Mark McClure, PS
"Why Retire With Debt?"
1103 West Meeker Street, #101
Kent, WA 98032
Office:  253.631.6484
Email: Mark at McClureLawGroup.com
Notice of Unavailability:       TBD.
CONFIDENTIALITY NOTICE: This email contains legal stuff. If you are not the
intended recipient you could get into a lot of trouble if you read it, and
even more trouble if you tell someone else about it. So, the best thing to
do is ignore it and forget you ever saw it. Thank you.

-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Kary Krismer
Sent: Thursday, January 19, 2023 6:46 AM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] Federally backed mortgages and evictions

Since this is a Google searchable listserve, I won't name names, but
there's a rather significant attorney landlord who is getting out of the
game due to all of this.  I'm guessing maybe 10-20 houses that will no
longer be rentals (unless the new buyer rents).

But it's not just that it will only be big players in the game.
Newspaper reports to the contrary, I don't find that big players invest
in single family houses.  Assuming I'm right, that means it will be
harder for parents to raise their kids in a house, as opposed to an
apartment.  That takes away an important choice for families. My point
is, it's not just an increased expense resulting from these policies,
it's also a lifestyle choice.

Kary L. Krismer
206 723-2148

On 1/18/2023 5:13 PM, K. Garl Long wrote:
>
> Jeff:
>
> You are. The combat is, and has, caused smaller housing providers to
> flee the market. The UD statute was implemented to convince people to
> provide housing by promising that if they were not paid, or the tenant
> caused problems, the law would promptly and inexpensively restore the
> owner to possession of their property. Now, the law does the opposite.
>
> This "policy" convinces people not to provide housing.  It is foolish
> in the short term, and very foolish in the long term. The small
> housing provider will soon be gone.
>
>

***Disclaimer: Please note that RPPT listserv participation is not
restricted to practicing attorneys and may include non-practicing attorneys,
law students, professionals working in related fields, and others.***

_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbarp