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That King County has a program to assist small landlords who have tenants with unpaid rent due to the pandemic? The Small Landlord Fund assists landlords with nine or fewer tenants who have unpaid rent that became due on or after March 1, 2020. Small landlords with properties in King County are eligible. The funding is awarded by a lottery.
Tenants must pass eligibility standards and landlords must agree to:
1. Accept three months of rental assistance on behalf of the participating tenant at the lesser of either: (a) 80% of the otherwise applicable total rent for three months; or (b) fair market rent for the three months. Any rental debt owed by the tenant for more than the three months must be forgiven. If rental debt is less than three months, assistance may be paid for past due and future rent up to three months not to extend beyond December 2020.
2. Not terminate or refuse to renew the participating tenant’s tenancy absent good cause until March 31, 2021.
3. Not raise rent on current tenant(s) served by this program until March 31, 2021.
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!
Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.
