All Forum Posts by: Tiffany Johnson

I have a long term rental in La Quinta. I’ve been managing it myself, but starting to look for a property manager for multiple reasons (one being I’m not keeping up with rent increases). Was told the maximum increase is 10% per year. It’s a neighbor city, so probably not the exact answer you’re looking for, but thought I’d share. 

@Richard Palmer Possibly; it went contingent after four days on the market. I'm also not seeing as many back on market properties. Looks like business is back to normal there? I hope so. 

I'm an out of state investor, and hoping someone can tell me how the market is doing in Calera. I have a vacant rental I'm looking to sell, and I've been watching similar houses go pending quickly, then just as many go back on the market. It's a single family home in a swim and tennis community. It seems it would sell quickly, but it also appears that buyers are getting scared off right now. I live near the hottest housing market in the country, so back on market is pretty much unheard of. 

I had a bad experience with AWB. Had a tenant at closing, but only received rent for a few months. Then the tenant stopped paying and the next four months was the eviction process. After that, the house sat vacant for another 2-3 months before I found a different property manager, and AWB "allowed" me out of the contract. My contract didn't have a guarantee of rent though. 

Just received the same email for Alabama. They'll be charging $10/week starting in March. 

I'm not sure about different landlord tenant laws across Washington State. Seattle is the only city (that I'm aware of) that has different laws. As for new laws, here's the bill that just passed the Legislature and was delivered to the Governor for signature. 

We had a group in Olympia that was working to oppose this law. The Legislature's intent was to help prevent homelessness, but I only see this as increasing costs and reducing flexibility.  I'll be making two changes on future leases as a result of this - increasing security deposits; and making rent due by the 1st (current grace period is through the 5th).

http://lawfilesext.leg.wa.gov/biennium/2019-20/Pdf...

@Curtis Bidwell Let me know if you need more landlords showing up to talk to Legislators, attend hearings, etc. I'm a former Legislative staffer and now involved in local politics. You're already doing everything that I would suggest, along with the Landlord Association. If they can do something similar to the hairdressers' rally, that would be great. (Yes, everyone has been talking about how effective that was.) 

Hi Chris, 

I'm a Thurston County investor, and I'd recommend the Olympia REI meet-up. I haven't been in a while, but it's a great group of people if you're looking for more contacts. Good luck!

Hi Wendy,

I'm not far from you, and I invest locally and also out of state. You should attend a meetup soon. There are at least two coming up - one in Lakewood, and one in Lacey on September 26. That one you can find by searching the forums or meetup.com for Olympia REI. I used to attend, and will return when my travel schedule slows down. Hope to meet you sometime!

I have two SFR's in Oly/Lacey, and two out of state. I invest in turnkey now that our market is so competitive. Just curious about your interest rate of 4%. Is that an estimate, quote, or have you been able to lock that rate? Most investment property loans are closer to 5%, so I'm wondering if I should be looking for a new lender.