Madison Park Rental Home: $5,650/Month

*Synced from Seattle Luxury Rental Blog
This lovely one level Madison Park home sits in the quiet Canterbury location near Madison Park Shops, restaurants and parks. Amenities include easy access to Downtown, freeway and the Eastside. Beautiful finishes include oak floors, cathedral ceilings, and a new kitchen with family room. The fenced garden boasts lovely plantings and hot tub. This spacious home has an attached two car garage that also includes a large workshop. Gardening included. Prospective tenants will need first and last month’s rent, plus one month’s rent for the security deposit. If you’re interested in this or other Seattle rentals, contact your local real estate agent today!

Status:	For Rent
Bed/Bath:	3/2.5
Price:	$5,650/Month

Proposed Bill - 90 Days Notice for Rent Increases

*Synced from Seattle Luxury Rentals

Most renters have probably experienced it – opening your mailbox to find a notice that your rent is going up. Often, increases come in $50 or $100 increments, but in Seattle’s booming rental market, some are seeing their rents rise by $1,000 or more at a time. Most renters can’t absorb these exorbitant hikes, and Washington State’s Landlord Tenant Law only requires landlords to give 30 days notice for rent changes (60 days in the City of Seattle), giving tenants a short window to find a new home. But according to Crosscut, Washington State Senator Jeanne Kohl-Welles (D-Seattle) is planning to introduce legislation that would require landlords across the board to give 90 days notice if they raise rents by more than 10 percent. The notification period for increases of 10 percent or less would remain at 30 days. For renters who don’t have much cushion in their savings account, this would give them more time to save up enough cash for move-in fees such as first and last months’ rent and a security deposit. According to King-5, the Rental Housing Association of Washington will fight the bill.
Kohl-Welles will also introduce legislation to prohibit landlords from discriminating against potential tenants on the basis of their participation in a government assistance program such as Section 8, which provides rent vouchers for households making 30 percent or less of the area’s median income. The bill would be aimed at landlords who either prohibit those in such a program from applying for housing altogether, or who don’t give them equal consideration with those not enrolled in an assistance program.
If you are interested in renting in the Seattle area, contact your local real estate agent today.

Renters in Old Buildings Blindsided By Rent Hikes

*Synced from Seattle Luxury Rentals Blog
With all the talk about record-high rents in the Seattle area, you may look around at the high-rise apartments sprouting up in South Lake Union, Capitol Hill, and Ballard and think you’ve found the culprits for our status as the U.S.’s 8th most expensive city for renters. But here’s a surprising statistic reported recently by Sanjay Bhatt at The Seattle Times: rents in older buildings are actually rising at faster rates than those in newer ones. Rents in buildings built in the 1980′s grew by a rate of 8.4 percent in the fourth quarter of 2014, whereas rents in buildings newer than 2010 grew by only 1.4 percent (granted, rents in these buildings are much higher to start with).
Renters who care little about granite counter tops and rooftop decks have historically been able to rent units for reasonable rates in older buildings that offer function without the flash. But as many of these mid-century buildings approach 60 or 70 years old, they’re being sold off to development groups who pass on renovation costs to tenants in the form of rent hikes. For residents such as those at the Linda Manor Apartments in West Seattle (a building built in 1964), those hikes came in the form of a 130 percent increase, according to The Seattle Times. One resident saw her rent rise from $1,000 per month to $2,300 per month.
With the addition of 86,000 new residents over the past four years and just under 29,000 new units built over the same time period, housing is at a premium and a low vacancy rate in King County is creating stiff competition for renters. Because of that, landlords are having no trouble filling units, even with ever-rising rents.
If you are interested in renting in the Seattle area, contact your local real estate agent today.

Renting is Half as Affordable as Buying in the U.S.

*Synced from Seattle Luxury Rental Blog
If you’re a renter, think about the amount you write on that check every month. Is it inching toward 30 percent of your monthly income? According to a new report by Zillow, gone are the days when mortgage rates made home ownership prohibitively expensive and renting was the affordable option. They report that the average renter in the U.S. is spending 30 percent of their monthly earnings on housing, and Seattle renters spend a little more than 30 percent, according to the Puget Sound Business Journal. Owning a home can cut that percentage in half, as homeowners pay only about 15 percent of their monthly income on their mortgage. Historically, renters have paid about 25 percent of their income toward rent.
Rents in Seattle are up a staggering 21.5 percent over the past five years, and with incomes only having grown 10.4 percent over that same span, renters are increasingly burdened with monthly housing costs. With mortgage interest rates hovering around 4 percent, first-time buyers in the U.S. are only spending an average of 17.5 percent on housing, even with many only paying a 5 percent down payment. Zillow says that even if interest rates rose to 7 percent, buying a home would be more affordable than it has been historically.
So, if you are looking to save on monthly housing costs, start saving those pennies for a down payment! If you are interested in real estate in the Seattle area, contact your local agent today.

Madison Park Rental Home: $2,450/Month

This gorgeous end unit next to Madison Park Beach and the Park is now available for rent! This home sits above the lake itself, with lots of windows and a spacious deck. Features include beautiful views of Lake Washington, mountains, and Madison Park. The home has two bedrooms, and one and a half baths. It is in close proximity to restaurants and shops, and a bus line to Downtown. Amenities include washer and dryer in the unit, and one car parking in secure garage. For more information on Seattle rentals, contact your local real estate agent today.

Status:	For Rent
Bed/Bath:	2//1
Price:	$2,450

Looking For A Roomate? MatchPad App Can Help

*Synced from Seattle Luxury Rental
The dating world has OkCupid, Match.com, and a host of other websites that claim to connect you with your soul mate. New service MatchPad has applied those same principles to connecting potential roommates, using criteria such as desired budget and location, as well as matching up compatible personality traits. According to an article on mynorthwest.com, the service launched in September as a website, and the app for both iOS and Android users will be available in January. Renters in Seattle won’t be able to take advantage of the service just yet, as it currently only operates in New York City, but once it does reach the Northwest it could help take some of the guesswork out of finding that elusive perfect roommate.

Madison Park Rental Home: $4,500/Month

*Synced from Seattle Luxury Rental Blog
This three bed three bath Madison Park home is a perfect location, is now available for rent! Three bedrooms are located on the 2nd floor & 2 baths. The Office features views on the 3rd floor, and master bedroom has 3/4 bath and a fireplace. On the main floor, you’ll find an updated kitchen, family room, dining room, living room, & powder room. The yard space is truly amazing! There’s a large deck off the kitchen and family room, and two side patios on the South side of the home. The laundry room is located in the basement, and there is a two car garage parking off the alley. *Looking for a short term lease – 3 months* All rooms are furnished except one bedroom. For more information on this, or other Seattle rentals, contact your local real estate agent today.

Status:	For Rent
Bed//Bath:	3//3
Price:	$4,500/Month