Why you should stay away from Seattle

Question

I usually stay away from the Seattletimes because it's such a rag, but somehow a landlord managed to get a story in. Hopefully this link will work. Read the comments especially.

https://www.seattletimes.com/opinion/small-landlords-are-at-...

Sean Smith · Answer

I've managed properties in some of the toughest markets across the country (SF Bay Area, Sacramento, now Seattle) and this article sums up exactly how challenging it can be for the small time landlord. Legal "goal-posts" never stop moving, and if you aren't running your investment property like a true business you can get burned. Give an inch to a professional-tenant and they'll always take a mile.

Greg Scott · Answer

Dang.  It sounds bad out there.

It has been interesting to listen to my West Coast Progressive friends start to tire of rampant crime.  Some of their beliefs are shifting.  Hopefully we can get back to rule of law.

Marcus Johnson · Answer

I sold my rental duplex in South Minneapolis in 2022 after getting frustrated with the City Council and leadership allowing riots and the burning down of local businesses in the local community and the gov't not stepping in until 4 days later with the national guard.  The rioters burnt down the local Holiday station, looted the Target, liquor stores, Walgreens and burnt down the 3rd precinct.  Total anarchy.   The city council also voted on rent control.   I figured we better get the heck out of town and sell while the market was at an all time high in 2022.  So glad we got out of Minneapolis, I will never do business there again unless the gov't changes.   It's sad that Minneapolis doesn't want to keep quality landlords who have done an extremely good job as we did.

Henry T. · Answer

Ha! Someone did just that. They parked an RV in front of council member Herbold's house. It was towed away within hours. In the rest of this crumbling city, derelict RV's are everywhere, but the city refuses to do anything until a year or two after constant public outcry.

Yes, that landlord may have poorly screened. It's a good reminder to any novice landlord that Seattle is a severe danger zone, even for a seasoned investor, more so for a beginner. Thousands of landlords have left, sold, or just plain quit. I see new construction going up and  wonder what's wrong with these investors? Are they stupid or am I just being too risk sensitive. I think it's the former.

Colleen F. · Answer

@Henry T.  Wow..   no evictions for 9-10 months a year due to the school year eviction ban and this is your eviction court. This sounds like a real minefield.  And that roommate law means you can get a doubling up on tenants.  Not sure who votes out there but it is a bit crazy to me.

Lisa Hammond · Answer

Yes, the tenant's are getting more and more sympathy and vote-buying rights for sure.  The only way to stop it is to become the louder voice or hit them where it hurts - votes.

Bruce Woodruff · Answer

This is happening in all of the Left Coast states, as well as the blue States back east. The stories are numerous and terrifying for landlords.

Hopefully this country will regain its senses as even many liberals start to feel the pain from the policies that they voted for.

Bruce Woodruff · Answer

And this is always the way with issues like this and Rent Control, isn't it? In an attempt to be nice to the 'poor tenants' and 'disadvantaged' people out there - the powers that be with their 'tree-hugger' mentality, always end up hurting the very people that they pretend to try and help. You'd thing they would learn, but.....well, they're just not that smart....

Adam Martin · Answer

The comments are turned off without a subscription however this is absolutely crazy.  That said this is a highly tenant favorable area and it sounds like screening was probably lacking.  The article states that they leased with favorable terms for the tenant which was 110% a mistake.  If they had higher standards and stuck to them there is a higher likelihood this would not have happened.  With policies like this there are many losers.  The landlord in this situation is obviously loosing.  Applicants who have less than stellar history are also loosing because with risks like these who is going to take a chance on a marginal tenant with risks this high outside of this guy.  If it were me I’d be tempted to park my van in front of legislators and attorneys yards to live consistently being just below noise ordinances just to lower their standard of living just like they did to me.  If neighbors were curious I’d let them know why I’m there and how to get me to leave.

Why you should stay away from Seattle

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