Seattle - renting downstairs unit

[Ryan Burton]

Hello,

My wife and I recently bought a house in Seattle. We are living in the top half, and are just finishing up some work on the basement unit so we can rent it out. I am hoping for some advice, or links I can go to to learn more about creating a solid lease, and legally screening applicants.

Here is the order in which I plan to get these tasks done. Please let me know what I'm missing, or if I should go in a different order!

1) Come up with the minimum screening criteria (suggestions? Income must be 3x rent, minimum credit score, what else?)

2) Prepare a lease (any good templates for Seattle? I have a sample from a friend but I'm not confident it's fully compliant with Seattle regulations)

3) Advertise the space

[Suzanne Nelson]

Hi @Ryan Burton,

We live in Seattle but have properties in Tacoma and I can't say enough good about RHAWA, rental housing Association of WA. For a small membership fee you get access to every form you could need and they are regularly updated and ensured to meet all of the shifting legal requirements. In addition, we use ApplyConnect to screen the tenants. Here is our verbiage for requirements and the questions we use via email prior to showing the property (NOT in Seattle, so may be some things you can't require there that we can in Tacoma):

Tenant pays electric for the unit and $150 utilities monthly. Minimum Requirements: Monthly gross income at least 3 times the monthly rent ($3,600 income per month). NO convicted felonies. NO sex offenders. Minimum credit score of 600 (check yours for free at creditkarma.com) NO previous evictions. The following guidelines are established to ensure that all prospective applicants for a property will be treated equally. Valid Picture ID such as Driver's License or ID card are a requirement of the Screening Company. All adults living at the home must be screened. Any false or misleading information provided by the applicant on rental application or omission of a material fact will result in denial. A previous verifiable residence history is required. Good history of on-time payments of rent and/or mortgage. No money currently owing to a landlord or property manager or any previous breaking of a lease. All employment must be local and verifiable. Self-employed are required to show last years tax statement to verify income requirements. Late payments of bills may affect acceptance. All bankruptcies must be discharged. Good payment history after a bankruptcy must be reflected. Foreclosures may be considered if other credit is good. Rent is due on the 1st of each month.

1)Current city you live in:

2)Why are you looking to move at this time?

3)When do you plan to move?

4)How many people will be living in the rental?

5)What is your occupation? What is your (spouse, roommate) occupation?

6)What is your total net monthly income (must be at least $3600)?

7)What types and sizes (weight) of pets do you have?

8) What is your credit score ( must be 600+)?

Hope that's helpful!  By the way, what neighborhood are you in?

Suzanne