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Did you know... RENTAL APPROVAL? The Fair Credit Reporting Act requires landlords to send written notice to a rental applicant not only if s/he is denied tenancy, but also when the tenant is conditionally approved.  An “adverse action notice” must be sent if any of the following occurs: An application is rejected An increased deposit is required Last month’s rent […]
Did you know... MOST IMPORTANT RENTER GOALS! The two most important factors for renters are location and price.  According to a study by Apartment Guide, 62% of renters place the greatest importance on location.  When searching online, 44% of renters are looking for a place that fits their budget and 29% are looking for a place that meets location needs.  While nothing […]
Did you know... MONTH TO MONTH RENTAL AGREEMENT At the end of a lease for a specific term, unless the lease is terminated, the lease automatically becomes a month-to-month rental agreement. All other terms of the initial lease remain in effect, even if no extension is put in writing.  Changes to the lease, including increases in rent, can be made with a 30-day […]
Did you know... LEASE TERMINATION BY TENANT A tenant may terminate a lease if the tenant or a member of the tenant’s household is a victim of domestic violence, sexual assault or stalking and the tenant or household member has obtained a protection order or has reported the matter. The tenant must present a copy of the protection order or written record […]
Did you know... PETS vs. SERVICE/COMFORT ANIMALS Regulations which restrict* certain breeds of dogs don’t apply if proper documentation has been provided that an animal is an assistance animal.  These *restrictions apply to pets. A service or comfort animal is not a pet.  However, assistance animals cannot be a direct threat to the health or safety of others. If the landlord has […]
Did you know... TACOMA WASHINGTON – Rental Proposal The city of Tacoma, Washington is considering a Just Cause Eviction Ordinance similar to Seattle’s.  The drafted provisions include: 60-day notice requirement for rent increases 60-day notice requirements for termination of tenancy Relocation assistance ordinance which requires owners to host in-person meetings with tenants Move-in fee installment payments Requirement that owners inform tenants of any […]
Did you know... RENT vs. BUY According to Realtor.com’s July 2018 renting vs. buying report*, home prices rose more than three times faster than rents.  The monthly cost of owning a home rose 14% last year while the cost of renting rose by 4%.  According to the report: Only 41 percent of the nation’s population lives in a county where a […]
Did you know... PROTECTED CLASS – Marital Status Marital status is a protected class in Washington State.  Marital status includes being single, married, separated, engaged, widowed and divorced.  In the City of Seattle and in King County marital status includes cohabitating. This means that landlords must treat roommates or unmarried couples the same as married couples.  In other words, a landlord can’t limit […]
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Did you know... INVESTOR LOANS with a catch Freddie Mac has a new program that will offer lower cost financing to investors of apartments who agree to cap rent increases for the life of the loan. The goal is to create rent control by keeping units in private hands and controlling the rate of rent increases. Recently investors have been buying less expensive […]
Did you know... SEATTLE & Property Ownership The City of Seattle contracted with the UW to study the impact of recent changes in rental ordinances. The Seattle Rental Housing Study (SRHS) was published in July 2018.  Tenants surveyed expressed skepticism about the effectiveness of the ordinances while the landlords surveyed found the ordinances highly burdensome and ineffective.  Highlights of the study follow […]
Did you know... CHANGING TENANTS The tenants in a lease cannot be changed without the signatures of all parties to the lease.  This is important when roommates share a rental and one wants to move out before the other.  Unless all roommates, any co-signers, and the landlord agree in writing otherwise, the vacating tenant remains responsible for all terms under […]
Did you know... BUYING A TENANT OCCUPIED PROPERTY? What you need to ask for if you represent someone buying a property with a tenant in place?  The following should be requested as part of the buyer’s due diligence: Lease and any addendums – the property is subject to the lease terms.  At the end of the lease or if a month-to-month rental agreement, […]
Did you know... RENTAL RATES – UP OR DOWN? The increase in new construction apartments has resulted in higher vacancy rates and lower rents.  In Seattle, new apartments are offering up to two months free rent.  According to CoreLogic, vacancy rates in apartments range from 3.9% in Des Moines to 25% in downtown Seattle.  This has impacted the single-family rental market as well, which […]
Did you know... RENTERS INSURANCE [wpvideo J6S9yDN7] The content found above was created by Amica Insurance Company. Coldwell Banker Bain is not affiliated in any way with Amica insurance and this video was posted for informational purposes only. You are advised to obtain multiple quotes from different insurance carriers. Nothing found herein should be construed as an attempt to offer […]
Did you know... FAIR HOUSING – BETWEEN THE LINES You know that fair housing laws require you to treat everyone the same, but that that means you must treat all rental applicants and tenants the same in even the subtle aspect of the rental process.  Examples include: –          If one tenant moves in mid-month and you allow him/her to pay pro-rated rent rather than […]
Did you know... NOTICE TO ENTER A RENTAL PROPERTY In Washington State, the amount of notice required before a landlord can enter the rental property varies depending on the reason.  The Landlord Tenant Act requires a landlord to give a 48-hour notice if the owner wants to enter for maintenance or an inspection.  A 24-hour notice is required if the landlord wants to show […]
Did you know... DISABILITY UPGRADES – RENTALS Fair housing laws require that landlords permit, at the expense of the person with a disability, reasonable modifications of the rental property if necessary for the tenant’s full enjoyment of the premises. The landlord can require that the tenant restore the property to its original condition when the tenant vacates IF the modification will interfere […]
Did you know... FAIR HOUSING AND THE ADA The Fair Housing Act (FHA) and Americans with Disabilities Act (ADA) define service animals differently.  The ADA prohibits discrimination against people with disabilities in public areas, such as employment, transportation, public accommodations and access to state and local government programs and services. The FHA protects a person with a disability in housing. While the ADA has a […]
Did you know... 10 DAY NOTICE – Washington State If a tenant is not complying with a term of the lease, the tenant can be served with a Ten-Day Notice to Comply.  This notice is given to a tenant who is violating a term of the lease, for example, to a tenant who has an unauthorized pet on the property. A specific clause of […]
Did you know... REAL ESTATE MARKET REALITY One of the more difficult scenarios for property managers occurs after the property has been leased for a few years and the owner decides to sell the property.  Somehow, over the time the tenant was in place, the owner’s recollection of the condition of the property at move in becomes rosier and more perfect.  It […]

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