And small time landlords were the only ones making it possible for people who work in Seattle to also live there by offering lower than avg rent. These laws are actually doing the opposite of intended- leaving it up to large property management companies who will take the hit of ‘relocation’ costs by raising rent across the board and making it EVEN MORE UNAFFORDABLE
These laws are doing exactly what they were intended. To secure votes for those getting them passed and drive small housing providers out of business so only large corporations will own rental properties.
@@winning3329 we have to sell to those who make an offer. Absolutely, I want to sell my darling home to someone who will love it. But, sadly, it’s more likely we will be selling to someone who will bulldoze it and build condos.
Me being a landlord myself, I totally empathize with this man. We offer better rental rates and better homes, but we are getting messed over. If corps take over all rentals it will be an even worse housing crisis.
yeah, and then the corps respond to any push back by hiding behind small landlords like you. it's a really crappy situation created by duplicitous private equity chasing their 2 & 20.
I have a basement apartment in King County. At the beginning of the plague my renter (who had not lost his job) looked me in the eye and said "I'm not paying and there is nothing you can do about it." I reminded him about his criminal record, and his illegal 9mm, and suggested I could rehome him in under an hour. He was gone in 3 days. I sued for the lost months. The courts won't put it on the docket. I've been waiting 2 years just to get him in front of a judge. Eff King County. Thankfully I'll croak sooner than later, but Seattle will be Detroit sooner than later too.
David, I am not worthy. Way to go getting the trash out. You are right about Seattle. But, don’t you really think there’s a plot behind the rezoning of Seattle and the pressure on the landlords - mostly mom and pops. The City Council of Seattle wants us out. That why the rule changes and new rules in place. Covid was a bonanza for the Seattle City Council. It sped up their plan. They want us to sell to the big boys. They’re going to make a whole lot more money in taxes than our little mom and pop rentals when the big buildings go in, blighting every beautiful neighborhood in Seattle (except the most expensive neighborhoods). What happened in my beautiful city? Can’t we vote out the extremists and get a few moderates in? People don’t have to agree on everything - compromise is the answer. Please start voting these extreme people out, because they’re not gonna help anything. But for me it’s over. I’ve sold out, and I’m selling out. Yep I sold to the big boys, because that’s where the money is. As usual mom and pops don’t have a dime.
Airbnb the place. You can view Airbnb ratings & technically not illegal to run a background check to an airbnb tenant. You also get better corporate insurance than a months deposit or independent insurance (claims result in raised premiums). Short term tenants have a lot less legal rights to squat than long term ones. Let the city figure out what to do with the tenants losing their place, it’s their laws/rules that caused this.
@swirly squirrel if the dude/tenant is going to ruin your property; I’d rather it be done on an airbnb reservation than a lease agreement with only a month deposit & court time that may require months than an airbnb arbitrator.
Amen! Keep voting democrats in and expecting things to get better is insane. Bet someone actually tries to blame President Trump For what the city democrats did.
I have a rental home in West Seattle. I rent way below average going rates. My tenant is out end of June. I'll be selling too. I agree with this guy. One bad renter can financially ruin me because the City would see me go broke before seeing someone forced out on the streets.
@@johnmca5643 fair point, but then we must remind ourselves of that struggle. I don't know what it's like to rent, but I do realize that if I fell on such hardship as to taint my background history then I'd want understand to allow me even basic needs like housing.
@Mic Your idea of sympathizing is to leech on the landlord? So the landlord has to pay the taxes, insurance, maintenance, and or utilities if included, while the tenant does't pay? If you can't pay, you should not live there.
@@sblijheid F land lords, lol. You're leaches on your neighbors. Boohoo on your own struggles. You wanted easy money, you took on the responsibilities associated, and the risk, at a cost. F you. I'm glad to see regulation taking you all down a notch, bunch of self righteous speculators.
I feel really bad for people in his position. On one hand I understand that there are people who after serving their time have a difficult time securing housing and a job that pays a living wage. But there’s always gonna be bad people out there that are looking to take advantage of the system. And background checks probably help cut down on that.
It's supposed to be the city job to provide affordable housing, not landlords. The city should build those affordable housing like in many countries the city build affordable housing.
When they start voting AGAINST the democrats is when they're "fed up". Doing the same thing and expecting a different result is not only insane and stupid. Political elites demand it from you peasants.
Smoke and mirrors " the mayor held a meeting on where people could share their concern but no action has taken" it's almost as if the government thinks we forget stuff
If you don't forget the stupid stuff they do, why do you keep voting for democrats? What's the definition of insanity again?? Or are y'all just stupid? Dumbassacrats, can't live with them and glad I can't
Background checks should be allowed. To help ex-cons, the state could offer a subsidy to landlords for taking a risk. Plus, the ex-cons would be on their good behavior, since if they get evicted their bad behavior would go on their record, and that would prevent them from getting any apartment. But, to simply prevent background checks, that is just denying a real problem. And that will never work.
I sat for a seminar where Windermere Prop Management described their conversation with Kshama Sawant and her advisors. He told her that when a landlord sells (b/c overregulation) those properties would leave the rental pool. Kshama disagreed. She has pursued eviction moratoriums and rent controls. this is the expected outcome.
Sawant's a joke. She and two others, Mosqueda and Morales, also voted against a hiring sign on bonus for the SPD? Way to drive a city bass ackwards. If I could vote her out, I most definitely will.
Stupid us as democrats do.... Yet you idiots keep voting for the same party and expecting a different result. When it collapses around you and you're forced to move, don't ruin that red state by voting for Marxists democrats again!!
@@danielfiore8865 Daniel, so many reasons we became a Mom and Pop Landlord. But greed was not one of the reasons. My single mom was a landlord, so I grew up with it. Mom rented out rooms in our house during the 1962 Worlds fair in Seattle (we all had to sleep in the basement, all five of us, which I loathed). I had to help with a rental, a 4-plex she bought (her single mom had been a landlord too). I cleaned apartments between tenants, helped with painting, and lawn work. I watched her and swore I would NEVER be a landlord. When I was an adult, my husband and I couldn’t afford a home we wanted, so we bought a broken down duplex on Beacon Hill in Seattle. We lived in one apartment and fixed up the one and vice versa and then rented out one side of the duplex. (This is actually how most people ( Mom & Pops) begin, either buying a duplex or a home they can convert, and live in it along with a tenant). It was something I knew. My husband’s parents had bought an apartment building on Capital Hill when he was a kid. He worked on that place like I did, so he also understood the business. We did not put money into retirement accounts, we invested in junky places no bank would loan on. We made plenty of mistakes, buying places in dangerous neighborhoods, selling right before prices skyrocketed. Every new kitchen appliance went into a rental, every new toilet and sink. Our home needed painting and tons of work, but NO it wasn’t fixed up. My tenants homes were nicer than mine. GREED? Not a chance. Those places were money pits. We did this because we knew how, understood the business, and wanted to secure a retirement future. You may find this strange, but we sold most of our buildings over the years to a willing tenant. Happily, they knew the home well, and made great money on these - and we still keep in touch. Just because you want to secure a future by hard work, investing your money, and making adult decisions about postponing personal immediate gratification for long term rewards, doesn’t make you greedy. During this time, I was a RN, raised two kids, but my husband and I spent weekends and precious vacation time working on old rentals because we couldn’t afford to hire things done. We took one vacation in our entire lives. We took our kids to Disneyland after we sold a duplex to our tenant. Our only vacation. Maybe greed motivates your choices, but it doesn’t ours.
I'm surprised it took him this long to leave people are leaving in droves mainly the price of living in King and Pierce county is ridiculous as well as the new legislation Mr jihad Jay Ensley has instituted that prevents violent criminals from being prosecuted to the full extent of the law
@@pjf3837 I live in an Eastern State that has seen a lot of Western migratory influence over the last decade. Prices are going up as a result. Lower cost of living attracts, and that is the subsequent effect.
I applaud this man. We own 10 units- they are fairly new- and We will at some point realize the juice is not worth the squeeze. Political advocates have no idea nor do they care about the provider. having votes only in their focus to stay in office at the for front. A flood of landlords will vacate the market regardless because no profit means no service. PERIOD. economics 101.
Why are they not allowed to credit check??? If you apply for credit card your allowed to run credit check why is king county special?? Just seems good business practice....just saying...
Why even let these mega-corp credit lenders deny a person a loan from their little rating system? just price it in. Gotta screw over poor people harder.
Sounds like you're a Marxist. And you wonder why you live in a shithole, you keep voting for democrats no matter how bad it gets. Stupid is as democrats do.
Dude, I am a Mom & Pop landlord. We sold our Seattle rental in November, we sold another last month. We are selling another in January as soon as 2023 begins. Who are buying my places? THE BIG BOYS! They are the ones with the money, honey! What are they doing with my places you might ask? They are tearing down my affordable under market rentals and replacing with multi-million dollar condos. Ask me if I care. I do not! Why, because the progressive political trend of the beautiful city I once loved has taken a big dump, and I mean literally, on what was once the most amazing city in the U.S. (Hey, my politics are moderate, voted twice for Obama, not once for Trump). Yes, should you want to know, we have moved outside of Olympia. But, guess what people, Olympia has not learned the lessons of Seattle and are moving quickly to destroy that city too. What happened to moderate thinking in our beautiful state of Washington? Does everyone need to think so extremely? I am talking both sides of the mountains. Wake up Seattle and Olympia. There will come a day when only the very rich and the extreme poor will live there. Have we made mucho bucks on our sales? Not really, by the time we pay off mortgages, and the big tax bite we have, we will have much less than most our friends have in their 401k’s. So, much for years of work. And don’t anyone dare call me greedy!
I won't call you greedy but I will call you slightly silly for not voting for Trump! Obama did absolutely nothing for anyone except those overseas. Trump was for the people...ALL people getting ahead. Look what you get outta Biden, a big fat nothing burger and a whole lot of word salad. Hope you're happy!
and yet you are careful to imply that your voting habits remain to vote for people who will keep doing this to communities... I used to feel I had the luxury to be like you, was a moderate, leaned liberal. I can't anymore, not when I see the wholesale destruction that the Democrats are causing, on purpose, nationwide. It's grotesque what they are doing.
I'm having a really really hard time deciding which small business i should develop...i either want to be a seattle landlord or a basement breeder of king cobras.....but i cant decide which is the less risky option.
This is pretty good news I'd say for smaller towns/cities around Seattle. With the increase in crime in downtown Seattle and the ability for people to work remotely more often, I think people will start flocking to more affordable areas farther out of the city. Husband and I will be purchasing property here next year and have decided we're not even going to look within the immediate Seattle area, like downtown, south seattle, ballard, shoreline, etc. It's not worth the price to live close to the city, at this point. Bad crime, places closed down, etc.
There are so many reasons we became a Mom and Pop Landlord. But greed was not one of the reasons. My single mom was a landlord, so I grew up with it. Mom rented out rooms in our house during the 1962 Worlds fair in Seattle (we all had to sleep in the basement, all five of us, which I loathed). I had to help with a rental, a 4-plex she bought from a little insurance money she received after my father’s death (her single mom had been a landlord too). I cleaned apartments between tenants, helped with painting, and lawn work. I watched her and swore I would NEVER be a landlord. When I was an adult, my husband and I couldn’t afford a home we wanted, so we bought a broken down duplex on Beacon Hill in Seattle on a contract because it wouldn’t stand up to bank financing. We lived in one apartment and fixed up the one and vice versa and then rented out one side of the duplex. (This is actually how most people ( Mom & Pops) begin, either buying a duplex or a home they can convert, and live in it along with a tenant). It was something I knew. My husband’s parents had bought an apartment building on Capital Hill when he was a kid. He worked on that place like I did, so he also understood the business. We did not put money into retirement accounts, we invested in junky places no bank would loan on. We made plenty of mistakes, buying places in dangerous neighborhoods, selling right before prices skyrocketed. Every new kitchen appliance went into a rental, every new toilet and sink. Our home needed painting and tons of work, but NO it wasn’t fixed up. My tenants homes were nicer than mine. GREED? Not a chance. Those places were money pits. We did this because we knew how, understood the business, and wanted to secure a retirement future. You may find this strange, but we sold most of our buildings over the years to a willing tenant. Happily, they knew the home well, and made great money on these - and we still keep in touch. Just because you want to secure a future by hard work, investing your money, and making adult decisions about postponing personal immediate gratification for long term rewards, doesn’t make you greedy. During this time, I was a RN, raised two kids, but my husband and I spent weekends and precious vacation time working on old rentals because we couldn’t afford to hire things done. We took one vacation in our entire lives. We took our kids to Disneyland after we sold a duplex to our tenant. Our only vacation. Maybe greed motivates some, but it doesn’t us, or other Mom and Pop landlords. Wake up Seattle, you are losing the landlords that keep rents affordable for you. Our tenants travel more than we do (they tell us they are off on another adventure, so we know someone is watching their pets and coming in and out their home), have MUCH better cars, and have better lives than we enjoy - more spare time! Ask you landlord where and when they went on their last vacation. Eye opening, I hope. 😕
People in California can self qualify for covid protection against eviction, all they have to say is that they were affected by covid and that it, even if they still make I believe about 70,000’s for a single person, if you question that argument you’re harassing those poor tenants.
I miss my old landlord, $500 month for my room, shared with another room mate. I saved so much money from it. But one bad room mate who refused to pay rent just made him decide get out. I also agree with doing background checks just for the safety of other roommates. You don't know if its a thief you are moving into a property. The place where I lived, this individual moved in, 6 months later, they moved out and cleaned out most of the provided utensils in the kitchen drawers, stole some of my Tupperware. Its a good thing I started hiding my stuff in my room, because I just sensed they were gonna do this.
The fix is simple. Make a law that says no one entity can own more than 9% of the market. This will have the following benefits: 1) no mega corps can come in and take the whole market. 2) 9% means only 11 full companies could domniate - ensuring competition. Plus there is a fraction left over for smaller companies.
Wouldn't it just be easier to stop voting for the same party that keeps screwing up every city it infestates? Stop voting democrat... Why do you think you live in a shithole? Because you keep voting leftist into office. When your state collapse and you're forced to move, don't ruin your new state by voting democrat. Stupid is as democrats do.
The solution is easy. Dont rent..just sell. Its a buyers market. And if renters don't pay, landlords don't have to pay...let the city fix their problems
@@luiso2166 housing, key word, and this video is about rental units. Investors, especially mom and pop, buying up houses to rent them is what the discussion is about. That is not a right, which is why legislation to curb its abuse is now on the table.
Property is never cheap but always a good investment. The fact is that there is no more land being made but the population is still growing. Supply and demand drives the price. Don't be angry at the landlord because thats how the choose to earn a living and you chose Burger King. Don't go whining about a living wage either, my first house cost $78k but I was making $3 an hour. Set your priorities and budget. Imagine the responsibilities the landlord has, he likely has a mortgage on the building not to mention upkeep. If you can pay the rent you just move on. If her can't pay the mortgage then he loses his lively hood. Then ad Jay Ensley to the mix and the landlord can't evict you but still has to pay his mortgage. Now what isn't fair?
78,000$ / 3$ = 26,000 hours for a house. median house price in Seattle in march 2022 is 889k. 889,000 / 15$ = 59,266 hours for a house. So it's over double the effort for a person now to get the house that you bought back then, and you're bringing this up as if it's something to be proud of. Also, nobody gains any equity from paying rent. All the dollars that get payed to the landlord is essentially burned for the person renting. The idea that someone making minimum wage would be able to save up for a house in Seattle is completely laughable. If you can't pay a mortgage you don't just instantly lose your property. You can even sell it and make money on the asset appreciation alone. So what are you talking about when you said a landlord loses their livelihood? Social security checks got a 5.5% increase this year, that's money we are giving to people who don't even do anything. my raise this year was less than 1.5%. Both are less than the inflation rates for the past 4 months alone. Cost of living has gone up 7% in Seattle in the past 2 months. But we should be able to kick out people renting for losing their jobs because of Covid-19? You have the typical delusional baby boomer mentality that I see everywhere on the internet. People born back then had it better off than the people born now.
@@ericbuzard349 Those people on social security worked for a living and earned that retirement. I wouldn't say we had it easier than you. Back then you did you're job or were fired, today we give you $600 a week to sit home and pass a bill so you don't have to pay rent. Oh and now they are forgiving college debt sounds pretty tuff to me. I worke through the whole thing because I was deemed an essential worker. If you would have saved that money you might have a down payment on a home. Guess where that money came from, taxes that the middle class paid for. Guess who didn't get a raise when they raise the minimum wage? Middle class. I never said that my house was the median price far from it. It was a low income fixer upper. I worked hard fixed it up, sold it for a profit and bought the next and so on. Why would you think that you should be able to afford a median priced home on minimum wage? Do what everyone else does make good choices and work for it. I'm so tired of the participation award generation expecting everything to be handed to them and thinking they know better than the system that has worked for 200 years. I hate to break it to you but you are not special. This isn't a socialists economy and if it were who would pay for it? A minimum wage job gets you in the door, after that its up to you to climb the ladder. Maybe you aren't as good as you think you are. If you were it doesn't make good business sense for an employer not to take care of you. Make yourself more valuable.
Wooster has every right to be proud of hard work. Erik, stop your wining, get off the internet and get a job, get an education, make a living that pays you enough to save. You seem intelligent. Buy something cheap, and they are out there, if you move out of downtown Seattle and get a fixer. Oh, gosh are you one of those who have to have it turnkey? No, it not as easy as it was, but it was really never easy. Look at history. You could own a beautiful home in Ukraine these days, and as a man be conscripted and fighting the Russians. Moping about the past and how your life is so bad is pathetic.
@@ericbuzard349 Mortgage interest rate back in the days of $3/hr was 15-20%. Get a clue and use a financial calculator to see how it turns your argument completely upside down. And no one should expect to afford a median priced home at their first home. My first property was a 1-bed condo that was half the median price. You start small and grind over time to build a portfolio. Those that did not put in the effort and sacrifices should not expect to get a handout from those that did.
@@ericbuzard349 but at $15 hour today, you get free healthcare, food stamps, rental subsidies. need to give up starbucks, apple computers and phones, .
It's so weird. So does this mean that having rules/laws absolutely hostile to landlords might result in landlords shying away from that area? I mean, who could have predicted something as crazy as that.
@King 5, How about interviewing local tenants about the changes to rental rules? Also, please explain what it means to "lose" 3,400 properties. Did Thanos come to Seattle and snap his fingers? Have you looked under the sofa cushions?
Lmao right? Oh no, now people will be able to purchase these homes instead of building other people's equity with zero personal return. What a hellscape we're in 🙄
@@pugetsoundwaves yea if you can afford a 1.2 million dollar mediocre ranch house from 1928 then fine you’d be able to build home equity. The only reason any landlords can rent that cheap is they bought these houses in the 1990s and 2000s but now these are ridiculously priced
@Tyfighter If the tenants could afford to buy, they would not rent. Before my father and his wife bought their house, they realized a mortgage and house maintenance was less then the rent they were paying, so they bought.
@@sblijheid Maybe more people would be able to buy homes if they weren't being hoarded by investors, creating artificial scarcity and driving up prices.
Well everyone is not set up in life to purchase homes. Then u have to be careful today especially if u depends on the systems to get a paycheck these jobs today come an go. An alot of Americans are being lay off every single day.
I think Mr. Brian might have some points here. For an honest landlord that wants to provide housing at a fair rate, some local laws actually favor the pig slumlord over the small time businessperson. However; as a renter and trades worker I can say I'm regularly asked to justify why people spend $1,500+ a month on one bedroom apartments that are ready to burn to the ground. Certainly don't compare a small time landlord to people who own a multitude of properties though. Those people and corporations are borderline (only because they pay a team of ravenous lawyers) breaking every housing and trust law know to the US. But its fine because its profitable.
This is the problem, to many Landlords not enough home owners, working wages can't afford rent now you have people living in cars, tents, parks combine them with all the street people and that's the disaster we have that's only just begun, God help us all
How gullible. Do you think a sweet little couple with a child will buy a small rental. The affordable rentals are being bought by the big boys. The zoning was changed in Seattle. Did you not see the news? They are tearing down the small houses at breakneck speed to put up condos that that sweet little couple can’t afford unless their Mommy and Daddy pay cash for it. Progress.
Data makes no sense, saying that units are lost if landlord leaves the Seattle area. They cannot take the unit with them? The units are still here. This is BS from ppl that don't like being regulated for the public good.
The single-family rentals become owner-occupied. In most markets, it is about 50% more to buy than to rent. I've seen $ 700-a-month rental homes in Santa Monica sell for $1,500,000 Condo conversion of multifamily buildings is common. In markets with a long history of rent control see their rental inventory decline. Some units are kept vacant as they can't be rented profitably in places like NYC. The Brookings Institute studied the impact in San Fransisco. "...in the long run it decreases affordability, fuels gentrification, and creates negative spillovers on the surrounding neighborhood."
That is what Jay Inslee Governor wants you to do...leave. Jay Inslee only wants the Hedge Fund boys involved in housing. Jay Inslee doesn't want independent housing providers around. By leaving you give Inslee a boost!
Well in California tenants don't have to pay no rents untill the year 2025 look at how many landlords going to lose there properties. Plus I. was told the Chinese people are buying up alot of properties in California now anyway.
Who needs war when you can use American laws against themselves. A Land grab and displacing locals. It used to take a war to force people out of their home and take their land, now it’s middle men investor landlords who straight buy a property and evict everyone. Chinese or American this is evil
As a tenant I believe that landlords have also taken advantage of the laws, the system and tenants that has caused tenants a lot of heartache and instability. Not all landlords are the same and their goal is only to invest and make money. I’ve had one landlord simply tell me that it is a business for him and as long as he’s not making money then he will do whatever it takes to get rid of me who had extenuating circumstances. Landlords will bend rules as well to their benefit. For example they will make the rent as high as possible and keep increasing it as long as the law allows them to. Tenants are at the landlord’s mercy in the situation. Lawmakers also need to do something about the rental situation because if someone is putting all their income towards rent even if they work two jobs this is a problem.
Landlords are not running a charity. If you can't afford the rent, move to where you can. Tenants are good at complaining, but has it occurred to you that the government is part of the reason that rents are high? The city increases property taxes if the property value is higher and the insurance follows suit. If he wants to keep making a profit, he has to increase the rents. Alsi, he's in business for profit and your situation is not his concern.
what really blows is many of these properties will be controlled by corporate entities now. imagine the phone tree to get concerns addressed by "WeOwnYou&Your First Born" Property Mgmt Inc
I am a renter in Seattle with no background checks I've noticed alot of unsavory characters in the lake city area. The lake city area is a shithole. If I didnt live 3 blocks from work I would leave.
Lets remember the guy King 5 interviewed 2 weeks ago, who wanted sympathy for being on the street homless after an eviction from his rental,, because he built separate apartments in it, subletting them, in Capitol Hill
Corporate rabbit hole if some people don't get together and get a cap on the rent and get some laws changed that work for the renters. Hasn't homelessness gone far enough?
How are these houses being "lost"? Aren't they being sold? The houses are still there, right? So there are fewer rental homes and more homeowners now. And that's somehow a bad thing?
Selling the property puts downward pressure on home prices, but higher pressure on rents due to less rental supply. Those who can't afford to buy will pay more to rent.
They should definitely check for sex offenders and people who did violent crimes. Petty crime shouldn't keep someone from getting a place to stay sometimes people do change.
@@ericbuzard349 yeah but they’re more insured than a rental property. A long term tenant trashing your property will only get you at max their deposit. Airbnb provides insurance that is 10x a month deposit. They also have ratings/reviews that are considered illegal to do as a long term rental.
And small time landlords were the only ones making it possible for people who work in Seattle to also live there by offering lower than avg rent.
These laws are actually doing the opposite of intended- leaving it up to large property management companies who will take the hit of ‘relocation’ costs by raising rent across the board and making it EVEN MORE UNAFFORDABLE
Lower than average
2200 is a lot for 2 bedroom
These laws are doing exactly what they were intended. To secure votes for those getting them passed and drive small housing providers out of business so only large corporations will own rental properties.
@@raulthepigchance2276 and the city make more tax money.
@@noracharles80 aaaahhhhhhh bravo bravo
@@raulthepigchance2276 Large corporations will get out of the market if there isn't a lot of money to be gained.
Every small landlord in the state myself included saw this coming. I’d sell.
Excellent. Exactly what they want.
Did you see it coming because everyone was voting for democrats?
Please sell to people who will live in it and not use it to rent out and make profits
@@winning3329 we have to sell to those who make an offer. Absolutely, I want to sell my darling home to someone who will love it. But, sadly, it’s more likely we will be selling to someone who will bulldoze it and build condos.
Great first time buyers looking for more inventory the American dream as they say.
We sold our rentals. My parents are selling theirs this month. We both have left Seattle and the State. It's unbearable.
I fled the state 2 years ago and life is SO MUCH BETTER NOW. Seattle and Washington are a joke.
You are a moron, WA is a great state. (Seattle is an armpit though).
I left NY for Ohio in March 22
I use to want to return to Whidbey Island, but being that it is in Washington, I think not.
@@philly799 Where did you go?
I agree get out of that dem held city. The city council is nuts.
That's why many of us are leaving and not only Seattle area ....out of Washington State for good !
Me being a landlord myself, I totally empathize with this man. We offer better rental rates and better homes, but we are getting messed over. If corps take over all rentals it will be an even worse housing crisis.
It is a very interesting point to see how the law is playing out for the corps’ greed
If the city would allow for more homes or a real estate crash, corps will get out of the market.
@@bobsacamano7653 bingo
yeah, and then the corps respond to any push back by hiding behind small landlords like you. it's a really crappy situation created by duplicitous private equity chasing their 2 & 20.
Corps need to make money to. Good for first time buyers though or people looking to move there love seeing the new inventory pop up.
I have a basement apartment in King County. At the beginning of the plague my renter (who had not lost his job) looked me in the eye and said "I'm not paying and there is nothing you can do about it."
I reminded him about his criminal record, and his illegal 9mm, and suggested I could rehome him in under an hour. He was gone in 3 days. I sued for the lost months. The courts won't put it on the docket. I've been waiting 2 years just to get him in front of a judge.
Eff King County. Thankfully I'll croak sooner than later, but Seattle will be Detroit sooner than later too.
David, I am not worthy. Way to go getting the trash out. You are right about Seattle. But, don’t you really think there’s a plot behind the rezoning of Seattle and the pressure on the landlords - mostly mom and pops. The City Council of Seattle wants us out. That why the rule changes and new rules in place. Covid was a bonanza for the Seattle City Council. It sped up their plan. They want us to sell to the big boys. They’re going to make a whole lot more money in taxes than our little mom and pop rentals when the big buildings go in, blighting every beautiful neighborhood in Seattle (except the most expensive neighborhoods). What happened in my beautiful city? Can’t we vote out the extremists and get a few moderates in? People don’t have to agree on everything - compromise is the answer. Please start voting these extreme people out, because they’re not gonna help anything. But for me it’s over. I’ve sold out, and I’m selling out. Yep I sold to the big boys, because that’s where the money is. As usual mom and pops don’t have a dime.
How do you know about his 9mm? Are you going through his belongings?
I would sell or move to, that’s so horrible you can not do criminal background checks. It’s so sad 😞
Airbnb the place. You can view Airbnb ratings & technically not illegal to run a background check to an airbnb tenant. You also get better corporate insurance than a months deposit or independent insurance (claims result in raised premiums). Short term tenants have a lot less legal rights to squat than long term ones. Let the city figure out what to do with the tenants losing their place, it’s their laws/rules that caused this.
@swirly squirrel Nope. But I advocate that the owner has the ability to do what he/she wants with THEIR property.
@swirly squirrel just make it an airbnb & none of those problems would affect you.
@swirly squirrel if the dude/tenant is going to ruin your property; I’d rather it be done on an airbnb reservation than a lease agreement with only a month deposit & court time that may require months than an airbnb arbitrator.
@swirly squirrel I could choose how long I want my tenant. It’s easy to rotate people in the summer.
The voters got exactly what they voted for. Have fun with higher rents.
Amen! Keep voting democrats in and expecting things to get better is insane. Bet someone actually tries to blame President Trump For what the city democrats did.
I have a rental home in West Seattle. I rent way below average going rates. My tenant is out end of June. I'll be selling too.
I agree with this guy. One bad renter can financially ruin me because the City would see me go broke before seeing someone forced out on the streets.
Well, you wanted the easy money. Maybe you need to try and sympathize about what it's like to be broke, and that only comes with experience.
@@mic4902 Why do you assume I've never been broke?
@@johnmca5643 fair point, but then we must remind ourselves of that struggle. I don't know what it's like to rent, but I do realize that if I fell on such hardship as to taint my background history then I'd want understand to allow me even basic needs like housing.
@Mic Your idea of sympathizing is to leech on the landlord? So the landlord has to pay the taxes, insurance, maintenance, and or utilities if included, while the tenant does't pay?
If you can't pay, you should not live there.
@@sblijheid F land lords, lol. You're leaches on your neighbors. Boohoo on your own struggles. You wanted easy money, you took on the responsibilities associated, and the risk, at a cost. F you. I'm glad to see regulation taking you all down a notch, bunch of self righteous speculators.
I feel really bad for people in his position. On one hand I understand that there are people who after serving their time have a difficult time securing housing and a job that pays a living wage. But there’s always gonna be bad people out there that are looking to take advantage of the system. And background checks probably help cut down on that.
It's not just one side that needs to change...you have to help the good landlords and hurt the bad ones.
It's supposed to be the city job to provide affordable housing, not landlords. The city should build those affordable housing like in many countries the city build affordable housing.
I don''t feel bad for someone investing in rentals. Almost everyone of them would kick renters out on the street if they couldn't pay rent.
@@bobsacamano7653 so they should let you live in their property for free right? Talking about poor people mindset
@@joantonio6331 No humanitarian mindset
The Supreme Court needs to restore property rights to property owners.
I just sold 3 of my rentals in Seattle to a corporation that paid cash and have purchased rentals in Florida where the laws are less restrictive......
I'm definitely considering purchasing rental property in Florida. My friend does and she makes pretty good money.
Corporations need to make money to they'll sell once they start losing money.
Not shocked. Landlord are fed up.
When they start voting AGAINST the democrats is when they're "fed up". Doing the same thing and expecting a different result is not only insane and stupid. Political elites demand it from you peasants.
It's all by design. "You will own nothing and be happy". WEF. Push out small landlords so they can own everything.
Smoke and mirrors " the mayor held a meeting on where people could share their concern but no action has taken" it's almost as if the government thinks we forget stuff
If you don't forget the stupid stuff they do, why do you keep voting for democrats? What's the definition of insanity again?? Or are y'all just stupid? Dumbassacrats, can't live with them and glad I can't
C0v eed
Background checks should be allowed.
To help ex-cons, the state could offer a subsidy to landlords for taking a risk.
Plus, the ex-cons would be on their good behavior, since if they get evicted
their bad behavior would go on their record, and that would prevent them from getting any apartment.
But, to simply prevent background checks, that is just denying a real problem.
And that will never work.
Some landlords charge 55 dollars for a background check that can be done for free that's the problem
@@winning3329 Well offer your services for free. A background (which includes unlawful detainers) check and a credit check costs money.
I sat for a seminar where Windermere Prop Management described their conversation with Kshama Sawant and her advisors. He told her that when a landlord sells (b/c overregulation) those properties would leave the rental pool. Kshama disagreed. She has pursued eviction moratoriums and rent controls. this is the expected outcome.
Sawant's a joke. She and two others, Mosqueda and Morales, also voted against a hiring sign on bonus for the SPD? Way to drive a city bass ackwards. If I could vote her out, I most definitely will.
They have that guy spooked, he won’t even use the word landlord. “Housing provider.” SMH
All landlords are getting on the bandwagon. We are sick of being call greedy landlords.
Stupid us as democrats do.... Yet you idiots keep voting for the same party and expecting a different result. When it collapses around you and you're forced to move, don't ruin that red state by voting for Marxists democrats again!!
@@noracharles80 if you're not in the game for money, why play? Greed is good. I'm greedy. Admit it.
@@danielfiore8865 Daniel, so many reasons we became a Mom and Pop Landlord. But greed was not one of the reasons. My single mom was a landlord, so I grew up with it. Mom rented out rooms in our house during the 1962 Worlds fair in Seattle (we all had to sleep in the basement, all five of us, which I loathed). I had to help with a rental, a 4-plex she bought (her single mom had been a landlord too). I cleaned apartments between tenants, helped with painting, and lawn work. I watched her and swore I would NEVER be a landlord. When I was an adult, my husband and I couldn’t afford a home we wanted, so we bought a broken down duplex on Beacon Hill in Seattle. We lived in one apartment and fixed up the one and vice versa and then rented out one side of the duplex. (This is actually how most people ( Mom & Pops) begin, either buying a duplex or a home they can convert, and live in it along with a tenant). It was something I knew. My husband’s parents had bought an apartment building on Capital Hill when he was a kid. He worked on that place like I did, so he also understood the business. We did not put money into retirement accounts, we invested in junky places no bank would loan on. We made plenty of mistakes, buying places in dangerous neighborhoods, selling right before prices skyrocketed. Every new kitchen appliance went into a rental, every new toilet and sink. Our home needed painting and tons of work, but NO it wasn’t fixed up. My tenants homes were nicer than mine. GREED? Not a chance. Those places were money pits. We did this because we knew how, understood the business, and wanted to secure a retirement future. You may find this strange, but we sold most of our buildings over the years to a willing tenant. Happily, they knew the home well, and made great money on these - and we still keep in touch. Just because you want to secure a future by hard work, investing your money, and making adult decisions about postponing personal immediate gratification for long term rewards, doesn’t make you greedy. During this time, I was a RN, raised two kids, but my husband and I spent weekends and precious vacation time working on old rentals because we couldn’t afford to hire things done. We took one vacation in our entire lives. We took our kids to Disneyland after we sold a duplex to our tenant. Our only vacation. Maybe greed motivates your choices, but it doesn’t ours.
@@noracharles80 wateva you say. Now sell so Gen z can get a chance to own. Stop hoarding houses.
2 years later and nothing is better
I'm surprised it took him this long to leave people are leaving in droves mainly the price of living in King and Pierce county is ridiculous as well as the new legislation Mr jihad Jay Ensley has instituted that prevents violent criminals from being prosecuted to the full extent of the law
I wouldn't be a landlord in a blue state.
No?
@@nicholasthompson7690 No. Too many people seeing landlords as villains. "Being a landlord is not a job," etc.
You would be a landlord in a 💩 state, though. 🖕😂
@@barryon8706It's not. And if you think it is, why don't you try ditch-digging? Afwaid of bwisters?😂
@@vipermad358 Do you think you're being logical?
These are the reasons I'm selling some of my California rentals and investing out of state.
If you move, PLEASE FOR THE LIVE OF GOD, STOP VOTING FOR DEMOCRATS! Why ruin the place you moved to as well?
Right, drive up rental prices elsewhere. Stand up decision making there.
Leave California its no longer worth the money
@@mic4902 What are you basing that assumption on?
@@pjf3837 I live in an Eastern State that has seen a lot of Western migratory influence over the last decade. Prices are going up as a result. Lower cost of living attracts, and that is the subsequent effect.
What does it matter if you are a small landlord or large landlord? If you are renting a house…pay or be evicted ..simple…
They couldn’t evict for almost 2 years! You think it’s over? Wait til this fall.
Bruce Harrell and Inslee are two of the Seattle's most pretentious corrupted seat warmers. That's all I gotta say about that.
And you morons still vote for democrats. What did you expect? Stupid is as democrats do.
Just use airbnb and set the minimum stay to 90 days. They can’t declare tenant rights at all.
That’s brilliant!
How does that work with exorbitant Airbnb and Seattle fees?
I applaud this man. We own 10 units- they are fairly new- and We will at some point realize the juice is not worth the squeeze. Political advocates have no idea nor do they care about the provider. having votes only in their focus to stay in office at the for front. A flood of landlords will vacate the market regardless because no profit means no service. PERIOD. economics 101.
This is a trend in large cities, with all of the regs, too pro tenant laws will lead to fewer landlords, and hence less availability of housing
can you blame then. the owners and land lords are not in business to give out Free Rent
Why are they not allowed to credit check??? If you apply for credit card your allowed to run credit check why is king county
special?? Just seems good business practice....just saying...
Why even let these mega-corp credit lenders deny a person a loan from their little rating system? just price it in.
Gotta screw over poor people harder.
What do they plan on doing when there is no rental property and only multi million dollar for sale ?
Hmmm a lovely tent.
Sounds like getting the little guy off the market to have better rent control in an area. Just a thought.
Sounds like you're a Marxist. And you wonder why you live in a shithole, you keep voting for democrats no matter how bad it gets. Stupid is as democrats do.
Why can't you run a background check on an applicant? Ludicrous
Dude, I am a Mom & Pop landlord. We sold our Seattle rental in November, we sold another last month. We are selling another in January as soon as 2023 begins. Who are buying my places? THE BIG BOYS! They are the ones with the money, honey! What are they doing with my places you might ask? They are tearing down my affordable under market rentals and replacing with multi-million dollar condos. Ask me if I care. I do not! Why, because the progressive political trend of the beautiful city I once loved has taken a big dump, and I mean literally, on what was once the most amazing city in the U.S. (Hey, my politics are moderate, voted twice for Obama, not once for Trump). Yes, should you want to know, we have moved outside of Olympia. But, guess what people, Olympia has not learned the lessons of Seattle and are moving quickly to destroy that city too. What happened to moderate thinking in our beautiful state of Washington? Does everyone need to think so extremely? I am talking both sides of the mountains. Wake up Seattle and Olympia. There will come a day when only the very rich and the extreme poor will live there. Have we made mucho bucks on our sales? Not really, by the time we pay off mortgages, and the big tax bite we have, we will have much less than most our friends have in their 401k’s. So, much for years of work. And don’t anyone dare call me greedy!
Greedy man
Face it, you're a Dumbassacrat. Stupid is as democrats do.
I won't call you greedy but I will call you slightly silly for not voting for Trump! Obama did absolutely nothing for anyone except those overseas. Trump was for the people...ALL people getting ahead. Look what you get outta Biden, a big fat nothing burger and a whole lot of word salad. Hope you're happy!
and yet you are careful to imply that your voting habits remain to vote for people who will keep doing this to communities... I used to feel I had the luxury to be like you, was a moderate, leaned liberal. I can't anymore, not when I see the wholesale destruction that the Democrats are causing, on purpose, nationwide. It's grotesque what they are doing.
You sound like a greedy, whiney b!tch.😂. I dared. Watch a gonna do? NOTHING. 🖕🤡
I would never be a landlord again. At 58 I want no headache , I care not for mammon.
i feel bad for no landlords housing is a right not a investment
I'm having a really really hard time deciding which small business i should develop...i either want to be a seattle landlord or a basement breeder of king cobras.....but i cant decide which is the less risky option.
King Cobras for sure
They are not going to listen. They think they are helping tenants. They are wrong. The hell with them. Let them suffer.
You get what you vote for.
This is pretty good news I'd say for smaller towns/cities around Seattle. With the increase in crime in downtown Seattle and the ability for people to work remotely more often, I think people will start flocking to more affordable areas farther out of the city. Husband and I will be purchasing property here next year and have decided we're not even going to look within the immediate Seattle area, like downtown, south seattle, ballard, shoreline, etc. It's not worth the price to live close to the city, at this point. Bad crime, places closed down, etc.
There are so many reasons we became a Mom and Pop Landlord. But greed was not one of the reasons. My single mom was a landlord, so I grew up with it. Mom rented out rooms in our house during the 1962 Worlds fair in Seattle (we all had to sleep in the basement, all five of us, which I loathed). I had to help with a rental, a
4-plex she bought from a little insurance money she received after my father’s death (her single mom had been a landlord too). I cleaned apartments between tenants, helped with painting, and lawn work. I watched her and swore I would NEVER be a landlord. When I was an adult, my husband and I couldn’t afford a home we wanted, so we bought a broken down duplex on Beacon Hill in Seattle on a contract because it wouldn’t stand up to bank financing. We lived in one apartment and fixed up the one and vice versa and then rented out one side of the duplex. (This is actually how most people ( Mom & Pops) begin, either buying a duplex or a home they can convert, and live in it along with a tenant). It was something I knew. My husband’s parents had bought an apartment building on Capital Hill when he was a kid. He worked on that place like I did, so he also understood the business. We did not put money into retirement accounts, we invested in junky places no bank would loan on. We made plenty of mistakes, buying places in dangerous neighborhoods, selling right before prices skyrocketed. Every new kitchen appliance went into a rental, every new toilet and sink. Our home needed painting and tons of work, but NO it wasn’t fixed up. My tenants homes were nicer than mine. GREED? Not a chance. Those places were money pits. We did this because we knew how, understood the business, and wanted to secure a retirement future. You may find this strange, but we sold most of our buildings over the years to a willing tenant. Happily, they knew the home well, and made great money on these - and we still keep in touch. Just because you want to secure a future by hard work, investing your money, and making adult decisions about postponing personal immediate gratification for long term rewards, doesn’t make you greedy. During this time, I was a RN, raised two kids, but my husband and I spent weekends and precious vacation time working on old rentals because we couldn’t afford to hire things done. We took one vacation in our entire lives. We took our kids to Disneyland after we sold a duplex to our tenant. Our only vacation. Maybe greed motivates some, but it doesn’t us, or other Mom and Pop landlords. Wake up Seattle, you are losing the landlords that keep rents affordable for you. Our tenants travel more than we do (they tell us they are off on another adventure, so we know someone is watching their pets and coming in and out their home), have MUCH better cars, and have better lives than we enjoy - more spare time! Ask you landlord where and when they went on their last vacation. Eye opening, I hope. 😕
No criminal background checks? Seattle’s rental laws clearly favor corporate investment.
People in California can self qualify for covid protection against eviction, all they have to say is that they were affected by covid and that it, even if they still make I believe about 70,000’s for a single person, if you question that argument you’re harassing those poor tenants.
I miss my old landlord, $500 month for my room, shared with another room mate. I saved so much money from it. But one bad room mate who refused to pay rent just made him decide get out. I also agree with doing background checks just for the safety of other roommates. You don't know if its a thief you are moving into a property. The place where I lived, this individual moved in, 6 months later, they moved out and cleaned out most of the provided utensils in the kitchen drawers, stole some of my Tupperware. Its a good thing I started hiding my stuff in my room, because I just sensed they were gonna do this.
The fix is simple. Make a law that says no one entity can own more than 9% of the market. This will have the following benefits: 1) no mega corps can come in and take the whole market. 2) 9% means only 11 full companies could domniate - ensuring competition. Plus there is a fraction left over for smaller companies.
Wouldn't it just be easier to stop voting for the same party that keeps screwing up every city it infestates? Stop voting democrat... Why do you think you live in a shithole? Because you keep voting leftist into office. When your state collapse and you're forced to move, don't ruin your new state by voting democrat. Stupid is as democrats do.
How is that a fix?
@@monto39 prevents a monopoly...
Corporations will just use shell compamies and continue to do what they want.
The solution is easy. Dont rent..just sell. Its a buyers market. And if renters don't pay, landlords don't have to pay...let the city fix their problems
Nothing ruins housing faster and better than Democrats.
Regulatory capture.
Well done ! When the government takes advantages of landlords and impose so many rules in favor of renters, exit is a good choice.
Have to fight inflation somehow. Housing is a human right.
@@mic4902 housing is NOT a human right.
@@luiso2166 wow, just wow. It sure is, bro.
@@mic4902 it's not, bro. No one is owed a house.
@@luiso2166 housing, key word, and this video is about rental units. Investors, especially mom and pop, buying up houses to rent them is what the discussion is about. That is not a right, which is why legislation to curb its abuse is now on the table.
You’ve been Democrated……..enjoy
He move to mountlake? Mountlake will be the next Seattle😂😂😂
Property is never cheap but always a good investment.
The fact is that there is no more land being made but the population is still growing. Supply and demand drives the price.
Don't be angry at the landlord because thats how the choose to earn a living and you chose Burger King.
Don't go whining about a living wage either, my first house cost $78k but I was making $3 an hour. Set your priorities and budget. Imagine the responsibilities the landlord has, he likely has a mortgage on the building not to mention upkeep. If you can pay the rent you just move on. If her can't pay the mortgage then he loses his lively hood. Then ad Jay Ensley to the mix and the landlord can't evict you but still has to pay his mortgage. Now what isn't fair?
78,000$ / 3$ = 26,000 hours for a house.
median house price in Seattle in march 2022 is 889k.
889,000 / 15$ = 59,266 hours for a house.
So it's over double the effort for a person now to get the house that you bought back then, and you're bringing this up as if it's something to be proud of.
Also, nobody gains any equity from paying rent. All the dollars that get payed to the landlord is essentially burned for the person renting.
The idea that someone making minimum wage would be able to save up for a house in Seattle is completely laughable.
If you can't pay a mortgage you don't just instantly lose your property.
You can even sell it and make money on the asset appreciation alone.
So what are you talking about when you said a landlord loses their livelihood?
Social security checks got a 5.5% increase this year, that's money we are giving to people who don't even do anything.
my raise this year was less than 1.5%.
Both are less than the inflation rates for the past 4 months alone.
Cost of living has gone up 7% in Seattle in the past 2 months.
But we should be able to kick out people renting for losing their jobs because of Covid-19?
You have the typical delusional baby boomer mentality that I see everywhere on the internet.
People born back then had it better off than the people born now.
@@ericbuzard349 Those people on social security worked for a living and earned that retirement.
I wouldn't say we had it easier than you. Back then you did you're job or were fired, today we give you $600 a week to sit home and pass a bill so you don't have to pay rent. Oh and now they are forgiving college debt sounds pretty tuff to me. I worke through the whole thing because I was deemed an essential worker. If you would have saved that money you might have a down payment on a home.
Guess where that money came from, taxes that the middle class paid for. Guess who didn't get a raise when they raise the minimum wage? Middle class.
I never said that my house was the median price far from it. It was a low income fixer upper. I worked hard fixed it up, sold it for a profit and bought the next and so on. Why would you think that you should be able to afford a median priced home on minimum wage?
Do what everyone else does make good choices and work for it. I'm so tired of the participation award generation expecting everything to be handed to them and thinking they know better than the system that has worked for 200 years. I hate to break it to you but you are not special.
This isn't a socialists economy and if it were who would pay for it?
A minimum wage job gets you in the door, after that its up to you to climb the ladder. Maybe you aren't as good as you think you are.
If you were it doesn't make good business sense for an employer not to take care of you. Make yourself more valuable.
Wooster has every right to be proud of hard work. Erik, stop your wining, get off the internet and get a job, get an education, make a living that pays you enough to save. You seem intelligent. Buy something cheap, and they are out there, if you move out of downtown Seattle and get a fixer. Oh, gosh are you one of those who have to have it turnkey? No, it not as easy as it was, but it was really never easy. Look at history. You could own a beautiful home in Ukraine these days, and as a man be conscripted and fighting the Russians. Moping about the past and how your life is so bad is pathetic.
@@ericbuzard349 Mortgage interest rate back in the days of $3/hr was 15-20%. Get a clue and use a financial calculator to see how it turns your argument completely upside down. And no one should expect to afford a median priced home at their first home. My first property was a 1-bed condo that was half the median price. You start small and grind over time to build a portfolio. Those that did not put in the effort and sacrifices should not expect to get a handout from those that did.
@@ericbuzard349 but at $15 hour today, you get free healthcare, food stamps, rental subsidies. need to give up starbucks, apple computers and phones, .
It's so weird. So does this mean that having rules/laws absolutely hostile to landlords might result in landlords shying away from that area? I mean, who could have predicted something as crazy as that.
Thank you, Brian WhoAskedWeNotUseHisLastName.
@King 5, How about interviewing local tenants about the changes to rental rules? Also, please explain what it means to "lose" 3,400 properties. Did Thanos come to Seattle and snap his fingers? Have you looked under the sofa cushions?
Lmao right? Oh no, now people will be able to purchase these homes instead of building other people's equity with zero personal return. What a hellscape we're in 🙄
@@pugetsoundwaves yea if you can afford a 1.2 million dollar mediocre ranch house from 1928 then fine you’d be able to build home equity. The only reason any landlords can rent that cheap is they bought these houses in the 1990s and 2000s but now these are ridiculously priced
@Tyfighter If the tenants could afford to buy, they would not rent. Before my father and his wife bought their house, they realized a mortgage and house maintenance was less then the rent they were paying, so they bought.
@@sblijheid Maybe more people would be able to buy homes if they weren't being hoarded by investors, creating artificial scarcity and driving up prices.
@@Meyers1793 Exactly. One of the big reasons why our housing market is so expensive is because of a lack of inventory.
People who love rental housing but hate landlords!
Well everyone is not set up in life to purchase homes. Then u have to be careful today especially if u depends on the systems to get a paycheck these jobs today come an go. An alot of Americans are being lay off every single day.
These people voted for this. Why are they complaining
Tired and dumb statement.
Our apartment building we have lived in 22 years has just been sold.for the same reason
Cities need to offer more entry level condos for sale, not just for rent. I wonder what percentage of dwellings are rentals and purchased?
competition and increasing supply is the 'only' way to lower cost housing; government involvement, or rent control, is 'housing suicide'...
I think Mr. Brian might have some points here. For an honest landlord that wants to provide housing at a fair rate, some local laws actually favor the pig slumlord over the small time businessperson.
However; as a renter and trades worker I can say I'm regularly asked to justify why people spend $1,500+ a month on one bedroom apartments that are ready to burn to the ground.
Certainly don't compare a small time landlord to people who own a multitude of properties though. Those people and corporations are borderline (only because they pay a team of ravenous lawyers) breaking every housing and trust law know to the US. But its fine because its profitable.
Is not landlords leaving but too many migrants coming because of open border.
This is the problem, to many Landlords not enough home owners, working wages can't afford rent now you have people living in cars, tents, parks combine them with all the street people and that's the disaster we have that's only just begun, God help us all
So, are the landlords taking their houses with them when they leave? What??
Landlords need more rv's parked out front, 26 years ago I could afford apartment in Seattle,what changed ? rampant greed top to bottom.
Thanx Airbnb and black stone. Renting used to be cheap until the rich decided it was a great investment. Now average folks are sleeping in their cars.
I hope it creates more opportunities for people to actually buy homes instead of renting.
How gullible. Do you think a sweet little couple with a child will buy a small rental. The affordable rentals are being bought by the big boys. The zoning was changed in Seattle. Did you not see the news? They are tearing down the small houses at breakneck speed to put up condos that that sweet little couple can’t afford unless their Mommy and Daddy pay cash for it. Progress.
Thank you. The succubus are now angry Gen z gets to buy a house instead of being their cash cow.
It’s a hopeless city, I don’t blame him.
Data makes no sense, saying that units are lost if landlord leaves the Seattle area. They cannot take the unit with them? The units are still here. This is BS from ppl that don't like being regulated for the public good.
The single-family rentals become owner-occupied. In most markets, it is about 50% more to buy than to rent. I've seen $ 700-a-month rental homes in Santa Monica sell for $1,500,000 Condo conversion of multifamily buildings is common. In markets with a long history of rent control see their rental inventory decline. Some units are kept vacant as they can't be rented profitably in places like NYC. The Brookings Institute studied the impact in San Fransisco. "...in the long run it decreases affordability, fuels gentrification, and creates negative spillovers on the surrounding neighborhood."
For years, Seattle has been making it harder and harder on landlords--so they have been actively contributing to the housing crisis.
That is what Jay Inslee Governor wants you to do...leave. Jay Inslee only wants the Hedge Fund boys involved in housing. Jay Inslee doesn't want independent housing providers around. By leaving you give Inslee a boost!
You shouldn't rip-off the small rent lords. They are suffering from the same high inflation.
Oh no! Anyways… ban single family zoning.
Is it related to the dems gov?
The rents are through the roof. We don't make that much a month.
Well in California tenants don't have to pay no rents untill the year 2025 look at how many landlords going to lose there properties. Plus I. was told the Chinese people are buying up alot of properties in California now anyway.
Who needs war when you can use American laws against themselves. A Land grab and displacing locals. It used to take a war to force people out of their home and take their land, now it’s middle men investor landlords who straight buy a property and evict everyone. Chinese or American this is evil
You jealous of the Chinese people? I wish we Americans would save but were idiots wanting the latest.
Rent is OUT OF CONTROL in Seattle, if you don't make $100,000 a year you to could be living in a tent...greedy bastards..
U can always relocate like most Americans are doing now anyway. But rent went up universal anyway.
@@elainewilliams362 I'd have to change jobs, and I'm not willing to do that.
Kick the renters out, there's plenty of people willing to buy. Give them a boost in their already crazy homeless population and see how they like it.
2,200 is a lot of money for a two bedroom. Robbery if you ask me. I couldn't and wouldn't pay that
Mayor Harrell is all talk and no action. He's not qualified for the job of mayor.
As a tenant I believe that landlords have also taken advantage of the laws, the system and tenants that has caused tenants a lot of heartache and instability. Not all landlords are the same and their goal is only to invest and make money. I’ve had one landlord simply tell me that it is a business for him and as long as he’s not making money then he will do whatever it takes to get rid of me who had extenuating circumstances. Landlords will bend rules as well to their benefit. For example they will make the rent as high as possible and keep increasing it as long as the law allows them to. Tenants are at the landlord’s mercy in the situation. Lawmakers also need to do something about the rental situation because if someone is putting all their income towards rent even if they work two jobs this is a problem.
Thank you for this comment. People need homes to live in!
@@mossy319 yesssss! That's the point!
Landlords are not running a charity. If you can't afford the rent, move to where you can. Tenants are good at complaining, but has it occurred to you that the government is part of the reason that rents are high? The city increases property taxes if the property value is higher and the insurance follows suit. If he wants to keep making a profit, he has to increase the rents. Alsi, he's in business for profit and your situation is not his concern.
@@sblijheidso sell the house and go to a state with a low property tax. Stop being a succubus.
what really blows is many of these properties will be controlled by corporate entities now. imagine the phone tree to get concerns addressed by "WeOwnYou&Your First Born" Property Mgmt Inc
Too much greed and evil moving to Seattle
I am a renter in Seattle with no background checks I've noticed alot of unsavory characters in the lake city area.
The lake city area is a shithole.
If I didnt live 3 blocks from work I would leave.
Who are going to buy these properties - big players scooping them up? Government acquiring?
Lets remember the guy King 5 interviewed 2 weeks ago, who wanted sympathy for being on the street homless after an eviction from his rental,, because he built separate apartments in it, subletting them, in Capitol Hill
And, your reporting why? Like this wasnt intended
The solution to all complex problems is, of course, a complex solution with its own set of problems to be solved sometime in the future
Corporate rabbit hole if some people don't get together and get a cap on the rent and get some laws changed that work for the renters. Hasn't homelessness gone far enough?
as property values rise, rents MUST rise
How are these houses being "lost"? Aren't they being sold? The houses are still there, right? So there are fewer rental homes and more homeowners now. And that's somehow a bad thing?
They are being lost as rental property’s and turned into owner occupied…meaning less housing for people that cannot afford to buy
Selling the property puts downward pressure on home prices, but higher pressure on rents due to less rental supply. Those who can't afford to buy will pay more to rent.
Not availanle for rent by new owner
@@juffowuppy those who can't afford to rent live with their parents.
Please read my comment below. Then you will know what is happening to the affordable rentals.
Why would I live in a place in the conditions are horrible they charge so much money the landlord
They should definitely check for sex offenders and people who did violent crimes. Petty crime shouldn't keep someone from getting a place to stay sometimes people do change.
Dig dig dig into the great reset from the world economic forum.
You will own nothing and be happy! Or so they've said......
@@lobojones6six6exactly.
Ha! single family homes from rentals to home ownership is good!
Just airbnb your place. Stop doing long term rentals, have the city figure out what to do with these tenants going homeless
Those get trashed all the time.
@@ericbuzard349 yeah but they’re more insured than a rental property. A long term tenant trashing your property will only get you at max their deposit. Airbnb provides insurance that is 10x a month deposit. They also have ratings/reviews that are considered illegal to do as a long term rental.
It's getting worse and worse for the poor.
ONLY LOSERS DON'T BUY HOMES IN CASH!!!
Seattle is alot of talk and nothing changes
O please, these land lords sold their properties to cash in on the price jump.
The landlord calls himself a housing provider.
I rolled my eyes at that too lol