Washington Park Rental: $4,995

This beautiful 4 bed 3 bath Washington Park home is now available for rent on the highly sought after McGilvra Blvd E. This home has glorious views of the Cascades and Lake Washington, sitting high above the street, with a panoramic view, with a great neighborhood presence. Features include traditional detailing finish work, high ceilings, large rooms and natural light. The dining room and kitchen open out to the private terrace level lawn area, and the master bedroom is located upstairs with a view balcony.  The home is conveniently located near the Lake, parks, restaurants, and shops. If your interested in this  or other Seattle rentals, contact your local real estate agent today.

Status:	For Rent
Bed/Bath:	4//3
Price:	$4,995

How is Your Cost of Rent Determined?

There are several factors that come into play when owners, landlords, and housing boards decide how much to rent a particular space for. In Seattle it can be assumed that since inventory is low, the cost of rent is rising and will continue to do so for the next few years. The Seattle Transit Blog has an interesting take on how your rental price is determined, and why that price was decided maybe even before your apartment was built!
According to Seattle Transit, construction costs, and debt accumulated are taken into consideration, as well as what the market will hold when determining the set rent. They suggest that the cost of rent is decided before the unit is finished being built. There is a supply and demand factor in the housing price decision. If inventory is low, rent is high, but if there is a surge in construction maybe the quality of housing will decrease and renters will wind up eating extra costs. Seattle Transit suggests that if all goes well in the construction process, and attracts prospective tenants, we should be seeing an increase in supply and lower costs in housing production. Read the full story to gain a better understand of all the bells and whistles that come into play when deciding that final rental rate. Understanding that there are many factors at hand and wrapping your head around what those factors are should open the flood gates for new ideas to cut costs for renters and builders alike.