Washington state no longer investor friendly

[Lara Nicole]

I live in Portland & was considering buy a SFH home but all the backwards pro tenant laws, rent control, extended moratoriums & longer to evict timelines have ruled it out. I was considering buying a multi-family in Washington state however this state is now following the same footsteps as Oregon.

-Three proposed Wa state anti-landlord bills;

HB 1236, SB 5139, SB 5160

Eviction Ban Bill -SB 5160 also mandates that housing providers renew any rental agreement or month-to-month tenancy for 2 years after the end of the emergency period ends, unless the property owner sells the unit, or moves into the unit themselves. 

Does anyone know if these bills have passed and what resources to call to verify if they have?

Anyone else no longer interested in investing in Wa state?

[Jeffery Wilen]

I live there, but don't have any rental units there.  Fortunately our rental properties are in more LL friendly states.

All this will do is change strategies for landlords. I can foresee instances where properties are  sold merely to make them vacant as the bill allows you to remove tenants if you are selling the property. More and more properties will be sold vacant rather than with tenants in place.

I could even see situations where two landlords sell each other properties to get vacate their properties. Joe sells his SFR to Sam and Sam sells his SFR to Joe. They both are able to displace their tenants and move forward. Each sells below market rate to avoid capital gains and the losers are tenants. As usual the law doesn't "fix" anything, just changes strategies.