#687 - With the End of the Eviction Ban in WA Landlords Are Raising Rents to Pre-Pandemic Levels
News For Reasonable People
English - August 19, 2021 10:00 - 28 minutes - 20.1 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
A pre-pandemic fact of life for Seattle tenants has returned: The rent is going up.
The coronavirus and widespread work-from-home policies last year led to reduced Seattle rents, especially in dense neighborhoods such as South Lake Union. Now, for renters shopping for a new lease, those deals are harder to find as rent prices return to pre-pandemic levels.
At the same time, tenants staying in their current homes are dealing with another reality: With the end of Washington’s previous state eviction moratorium on June 30, landlords can once again raise rents.
The dual trends, affecting tenants whether they stay in place or move, will hit cash-strapped renters hardest.
Faced with the cost of moving into a new apartment, which often includes first and last month’s rent, staying put with a rent increase can feel like the better of two bad options.
Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.
https://www.seattletimes.com/business/real-estate/in-seattle-pandemic-recovery-brings-another-reality-the-rent-is-going-up/