Wednesday, June 25, 2014

New Data Shows Half of Seattle Renters Live Solo

*Synced from Seattle Luxury Rental Blog
According to the most recent census data reported by The Seattle Times, Seattle’s population of renters is living up to the city’s reputation for introverted residents. 51 percent of the city’s rent-paying tenants live alone, which is a surprising statistic considering that the average rent in Seattle is now $1,480, up 21 percent from five years ago. Only Atlanta has a larger percentage of solo renters, and most other cities toward the top of the list (Cincinnati, St. Louis and Pittsburgh) have average rents significantly lower than Seattle’s.

But despite the significant rental costs, it appears Seattleites are willing to pay more in order to not have to share their space. No sinks full of your roommate’s dishes (just your own), no fighting over the parking space, and no sharing any of that precious square footage. Single-occupancy units are clustered more heavily in certain areas of the city, including downtown, where three out of every four units is occupied by a single person, and other densely populated neighborhoods such as Capitol Hill, Eastlake, and Fremont.
Though the rate of solo renters is high comparable to other cities, the percentage has dropped from 56 percent in 2009, so it appears renters may be starting to feel the squeeze of rising rents. For more information about renting in Seattle, contact your local real estate agent today.

Wednesday, June 18, 2014

Eastlake Condo Rental: $3,599

eastlake
This elegant 2 bed, 2.5 bath condo unit in the Tramonti condominium is now available! The unit also includes a den and has views of Lake Union and Downtown Seattle. From its sophisticated aesthetics to its steel and concrete structure, this home offers the finest materials and design. Features include freshly painted interior, an amazing open floor plan with European hardwoods, 9.5 foot ceilings, and a gas fireplace. The kitchen also contains stainless steel appliances and granite counter tops. This condo has over 30 feet of roof top deck with full Western Views! If you’re interested in this, or other Seattle rentals, contact your local real estate agent today.
Status: For Rent
Bed/Bath: 2/2.5
Price: $3,599

Wednesday, June 11, 2014

Seattle Rentals Real Estate Recap: May 2014

shorewood*Synced from the Seattle Luxury Rental Blog
King County rental activity dropped in May from April with 262 leased properties, according to stats from the Northwest Multiple Listing Service.  This number is down from the same time last year with 354 leased properties in King County.  Currently, there are 287 available rentals on the NWMLS, with 56 in neighborhoods within 7 miles of the downtown core.  The current highest asking price is $8500/mo for a 2 brd/2.b bath condo.
For more information about Seattle rentals, please contact me at anytime.

Wednesday, June 4, 2014

New Ordinance Aims To Establish Standards For Rentals


As many renters can attest, conditions in rental units can vary widely among properties, and getting repairs done can sometimes turn into a lengthy process, depending on the responsiveness of your landlord. The City of Seattle’s recently instituted Rental Registration & Inspection Ordinance is aiming to alleviate some of the worst conditions in rental properties in the city, after learning through the 2009 American Housing Survey that 10 percent of rental housing in the Seattle area has “moderate to severe” physical problems.
The ordinance will require all rental property owners to register their properties and hire either a City or private inspector to ensure their property is meeting minimum standards in areas such as smoke/carbon monoxide detectors, making sure broken or leaking windows, walls, and roofs are repaired, and making sure each unit does not have insects or rodents. The city has begun accepting registrations for properties, and registration will continue through 2016. Properties will be inspected at least once every 10 years thereafter.
According to The Seattle Times, owners are not required to register some types of rental properties, including units owned or managed by the government or a housing authority; housing associated with nursing homes and hospitals; transitional housing; housing associated with a religious order; or short term rentals such as vacation rentals and hotel rooms. The city is hoping this program will preserve quality of life in neighborhoods by educating all parties involved in renting units – landlords, renters and inspectors – to ensure everyone is on the same page in terms of what maintenance standards should be met.
For more information about Seattle rentals contact your local real estate agent today.