This week: highlights of bills currently pending in the Washington State Legislature and the impacts on multifamily owners and developers are featured.
This week's topics include: 55 million vacant homes in the US; Governor Jay Inslee's eviction moratorium being upheld by the state Supreme Court, and Economist Matthew Gardner's predictions for Washington.
In this episode: a shortage of construction financing is expected to reduce the number of new apartment deliveries in the coming years, leading to rent growth and capital appreciation. These opportunities are facing headwinds from increasing operating expenses for multifamily properties. And the latest information on Tacoma’s tenant protection initiative on the ballot this November.
HFO founding partner Greg Frick welcomes Brad Kraus, a landlord-tenant lawyer, to discuss the state of Washington's landlord-tenant laws. Brad discusses eviction actions, security deposit obligations, and the impact of the CARES Act issue on Washington eviction notification.
HFO Director of Client Services Aaron Kirk Douglas welcomes Carl Whitaker, director of research and analysis at RealPage, Inc., to discuss the market Washington state multifamily market. Aaron and Carl delve into the impact of tech sector employment and AI hires on Seattle's rental market, the strong performance of suburban submarkets, increasing occupancy--despite slowed rent growth-- and the strength of the Spokane market.
In this episode, Greg Frick, partner of HFO Investment Real Estate, welcomes Quinn Posner, founder and lawyer at Northwest Landlord Solutions, to discuss legislative changes in landlord-tenant law in Clark County and throughout Washington. They cover the impact of COVID-19 on the industry, changes in eviction processes, rental assistance programs, the lack of state preemption leading to different rules in different areas, and the need for landlords to stay updated on the constant changes in landlord-tenant laws to avoid legal troubles.
In this episode: Washington State rent growth trends and the question of whether Seattle's new energy codes are leading to a drop in permit applications.
In this podcast episode, we cover significant developments affecting the multifamily housing sector in Washington State: (1) The Federal Housing Administration's raising the threshold for large multifamily loans, potentially expanding property eligibility for standard underwriting. (2) Despite concerns about a hard landing, demand for apartments remained strong, and the state is making a historic investment in affordable housing projects. (3) Although still alive, Seattle's proposed rent control bill faces challenges. PLUS! We also cover the affluent renter demographic in Seattle and slowing apartment production.
Stay tuned next month for expert insights on state eviction processes and security deposits.
This week: Eviction moratoria continue expiring, relieving distraught landlords; national rental rates remain flat, and The Urbanist asks: How many new homes could be created with denser housing limits near transit? The answer may surprise you.
Among this week's stories: Seattle City Council member Alex Pederson proposes adding $5-8k per unit in housing impact fees, estimating the fees will raise $200-$760 million in the next 10 years for infrastructure.
Trepp's new reports on delinquency rates for CMBS loans, the shocking shortfall of apartment homes nationwide, and new information on rising insurance rates affecting owners and renters alike.
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