Category Archives: Did you know…

TENANT SCREENING

When an applicant’s credit is pulled, we do not review a copy of the applicant’s credit score.  Any applicant who is denied or who is required to pay additional move in costs (higher deposit or last month’s rent) or who … Continue reading

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TENANT RESPONSIBILITIES – Washington State

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CLEANING FEES – WHO PAYS?

In Washington State, if a landlord charges a non-refundable cleaning fee, the tenant cannot be charged for any routine cleaning that exceeds the amount of the fee. If cleaning costs exceed the amount of the cleaning fee, the owner will … Continue reading

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Department of Justice Lawsuit

The Department of Justice (DOJ) recently settled a lawsuit with a landlord in Edmonds, Washington for refusing to rent to families with children.  The complaint was filed with HUD in 2014 and the DOJ just settled the case.  The settlement … Continue reading

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SEATTLE LANDLORD/TENANT UPDATES

There have been updates to the handout landlords are required to provide to Seattle tenants.  This handout includes summations of both Seattle and state landlord tenant regulations and must be provided to tenants at move in, annually and whenever changes … Continue reading

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SEASONAL RENTAL MARKET – WASHINGTON

In this area, the rental market is very seasonal.  The greatest demand is typically during the summer months and slowest during the holiday season.  While rents are still high, the seasonal slowing is starting earlier than usual this year.  This … Continue reading

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Seller Remains AFTER closing – Washington State

Due to the current sales market, we’re seeing a significant increase in sellers maintaining possession post-closing.  NWMLS form 65B, for seller occupancy after closing, states in the instructions that, “post-closing occupancy is risky,” and recommends that buyers not give sellers … Continue reading

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The Fair Tenant Screening Act

The Fair Tenant Screening Act prohibits landlords from charging an applicant for screening without first posting or notifying the applicant in writing of the criteria that will be used to screen applicants?  This must include: What type of information will … Continue reading

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2017 SURVEY OF RENTERS

The results of a recently released 2017 survey* of renters reveals tenant priorities.  In this survey, 35% of tenants were in single family rental homes, the rest in multi-family.  32% of tenants had dogs, 30% had cats and 10% had … Continue reading

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CAP-RATES & INVESTING

Investor clients often want to know the capitalization (cap) rate of a potential property. Cap rate is net operating income (NOI) divided by the sales price or value of the property.  NOI is gross annual income minus operating expenses, but … Continue reading

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