Showing posts with label Seattle Rentals News. Show all posts
Showing posts with label Seattle Rentals News. Show all posts

Wednesday, January 21, 2015

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.

Thursday, January 15, 2015

Renters in Old Buildings Blindsided By Rent Hikes


rent*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.

Wednesday, December 3, 2014

Looking For A Roomate? MatchPad App Can Help


rent*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.

Wednesday, November 5, 2014

Eastlake Rowhome Rental: $3,250/Month

eastlakecd
This  3 bed 2.5 bath London-style rowhouse in the desirable Eastlake neighborhood is now available for rent. Many upgrades include slate entry, hardwood floors and slab granite counters and chef quality appliances. Features such as a beautiful kitchen with breakfast bar, separate dining room, sunken living room with fireplace and 10ft ceilings offer attractive living. Luxurious top floor master suite has five-piece bath, large walk-in closet and view deck. Light & bright end unit with beautifully landscaped front yard. Minutes to Downtown and walking distance to Amazon & South Lake Union. If you’re interested in this, or other Seattle rentals, contact your local real estate agent today!
eastlakecc
Status: For Rent
Bed/Bath: 3//2.5
Price: $3,250

Wednesday, October 22, 2014

Queen Anne Luxury Rental: $4,950

Queen Anne rental
*Synced from Seattle Luxury Rentals Blog
This romantic three level 2 bed, 2 bath  “Tower” Apartment was built in 2011 with views of Elliott Bay, the Puget Sound and the Olympic Mountains. This rental comes with a spacious 1 car garage (with the possibly of additional parking available). Features include travertine baths, stunning views, and a beautiful gourmet kitchen. The 500 sf deck is partially covered with views and a fireplace. Extraordinary landscaping includes waterfalls, terraces & boulders. If you’re interested in this or other Seattle rentals, contact your local real estate agent today.
Status: For Rent
Bed/Bath: 2//2
Price: $4,950

Wednesday, September 24, 2014

Seattle One Of Top 10 Most Expensive Cities For Renters


housing-market*Synced from Seattle Luxury Rentals Blog
If you’re a renter in Seattle you don’t need telling that it costs a pretty penny to live here, but we now have census data that confirms our rents are up there with the most expensive in the country. The Seattle Times is reporting that Seattle finally cracked the top ten on the list of cities boasting the highest median rent, with a cost of $1,172 per month.
Between 2010 and 2013 rents here also saw the steepest increase of the top 50 most populous cities in the U.S., having risen by $113 per month (including utilities), or 11 percent. $1,172 is the median cost of what renters are currently paying in Seattle, so it does not reflect many newer apartment buildings that are listing un-rented units for much higher prices. Surprisingly, the number of renters in Seattle has kept pace with rising rents – in 2013 there were 307,000 renters here, a 13 percent increase from 2010.
Click here to see a chart of the top 10 most expensive cities for renters. If you would like more information on renting in the Seattle area, contact your local real estate agent today.

Wednesday, September 3, 2014

Walkability Score- What is it and why does it matter?

*Synced from Seattle Luxury Rental
Walkability- it’s a word that some of you may be familiar with already, and one that real estate marketing often uses. But what exactly does it mean?
Used by Walkscore.com, it’s intended definition is to indicate how easily and readily connected a property is to the neighborhood and community around it. For instance, is the nearest grocery store within easy walking distance? Or would it be necessary to drive there?
The higher a property’s Walk Score (or Transit Score or Bike Score) on a scale of 1-100, the more connected the neighborhood is with the property. Take this chart example. But what makes a community walkable?
  • A center: Walkable neighborhoods have a center, whether it’s a main street or a public space.
  • People: Enough people for businesses to flourish and for public transit to run frequently.
  • Mixed income, mixed use: Affordable housing located near businesses.
  • Parks and public space: Plenty of public places to gather and play.
  • Pedestrian design: Buildings are close to the street, parking lots are relegated to the back.
  • Schools and workplaces: Close enough that most residents can walk from their homes.
  • Complete streets: Streets designed for bicyclists, pedestrians, and transit.
Now, why is this score important? It’s generally known that those who walk more, whether it’s just a few steps or hundreds of steps a day are generally healthier than those who don’t. By walking more, not only do you get outside, but you also use your car less, and thereby reduce your carbon footprint. If you were able to find a property in a highly walkable area, you might be able to forgo the car altogether!
And here’s some great news: Seattle is rated as one of the most walkable cities in the U.S.! With a Walk Score of 71, a Transit Score of 57, and a Bike Score of 64, Seattle is the 8th most walkable city, with it’s most walkable neighborhoods being Downtown, the Denny Triangle, and Pioneer Square.
How important is the walkability of the neighborhood to you when looking for a new property?

Wednesday, August 20, 2014

Laurelhurst Rental Home: $4,995

Jac_004
*Synced from Seattle Luxury Rental Blog
This charming Laurelhust home is warm and inviting and full of character, and available for rent! The property is very private with a beautiful English Garden, and the interior has been carefully remodeled with an artistic eye for detail. Features include handmade Mosaic fireplace, and vaulted ceilings in the dining room and arched Spanish style in the living room. The kitchen is a dream for entertaining with a large gas stove. The home has distinctive hardwoods and custom mill work. Upstairs bedrooms are all light and airy, and each has a balcony. For more information on this, or other Seattle rentals, contact your local real estate agent today!
Status: For Rent
Bed//Bath: 3//3
Price: $4,995

Wednesday, August 6, 2014

Meadowbrook Condo Rental: $2,295

meadowbrook
*Synced from Seattle Luxury Rentals Blog
This immaculate and spacious townhome in a quiet residential neighborhood-not directly on arterial, is now available to rent! Thoughtfully designed & constructed and luxuriously appointed, this residence is a step above your typical townhome. All 3 bedrooms are good sized and have an attached bath. Large, open kitchen with maple cabinetry, stainless appliances and slab granite countertops. Slate entry, gas fireplace & extensive use of ceramic tile. There is also a small fenced patio off lower level suite. One car attached garage. For more information on this or other Seattle rentals, contact your local real estate agent today.
Status: For Rent
Bed//Bath: 3//3
Price: $2,295

Wednesday, July 23, 2014

Madison Park Rental Home : $6,250

madison park rental home
*Synced from the Seattle Luxury Rental Blog
This nice sunny Madison Park home on a corner lot with a huge level and enclosed lawn area is now available for rent. Incredible, authentic craftsman features updates throughout, four bedrooms plus an office and sitting room. Kitchen, family room, and four and a half bathrooms with heated floors in a wonderful location, right across from McGilvra Elementary school and a short distance to Madison Park shops and restaurants. This is a classic home and fantastic location! If you’re interested in this, or other Seattle area rentals, contact your local real estate agent today.
Status: For Rent
Bed/Bath: 4/4.5
Price: $6,250

Wednesday, July 9, 2014

Credit Bureaus Now Considering Rent Payment History In Score Criteria


housing-market*Synced From Seattle Luxury Rental Blog
Your credit score. That elusive number between 300 and 850 that seems to follow you around wherever you go, determining whether you can buy that new car, rent that apartment, and perhaps most distressing for many Americans – whether you can become a homeowner. For many mortgage lenders, the minimum credit score required to approve a home loan is 640, and until now, on-time rent payments have not been a factor in determining your score. For many long-time renters who have accumulated a perfect track record of on-time payments, that omission has been a lost opportunity to give their credit a boost.
But now, Experian and TransUnion, two of the major national credit scoring bureaus, have begun using rental payment data in their credit-scoring criteria in partnership with a website called RentTrack. The site aims to help renters build credit by allowing them to pay their rent online, and by allowing landlords to report their tenants’ payment records to the bureaus. According to this report, almost 20 percent of renters saw their credit scores increase by 10 points after just a month of their landlord reporting payments. While it costs $1.95 per month for renters to use the site to pay online, they can also use it to track their credit progress, and many landlords will cover the cost.
For someone who hasn’t had much opportunity to build credit, this is a great way to practice good habits by making sure your rent is paid on time while simultaneously raising your credit score and opening the door to a future mortgage and home purchase. For more information on renting in Seattle, contact your local real estate agent today.

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 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, May 14, 2014

Seattle Rentals Real Estate Recap

*Synced from the Seattle Luxury Rental Blog
King County rental activity dipped in April, compared to March with 306 leased properties, according to stats from the Northwest Multiple Listing Service.  However, this number ticked up from the same time last year, which was 295 leased properties in King County.  The market continues to stay strong, with 68 available properties within 6 miles of the downtown core with high price tags-the highest asking rent priced at $12,000 for a 2 br/2 bath penthouse in Belltown.
bellevue home
Rents continue to increase as the Seattle vacancy rates remain at a low 3.6%, according to an article from Seattle Rental Group.  This is up just .07% from the same time last year. For more information about Seattle rentals, contact me at anytime.

Wednesday, April 23, 2014

King County Rental Market Recap: March 2014

*Synced from Seattle Luxury Rentals Blog
bellevue homeThe King County rental market saw an increase in leased properties in March,  with 641 rentals, versus 611 leased properties in the same month last year, according to statistics from the Northwest Multiple Listing Service (NWMLS). While the NWMLS is a good gauge, it is only a portion of the real estate market.  Nonetheless, it shows rentals continue to be in high demand, especially in Metro areas.   Developers are following suit with big apartment buildings popping up in Ballard, Downtown, and South Lake Union and   according to an article from PSBJ, Seattle ranked the 7th best market for rental property investing.
There are 268 current active rentals per the NWMLS in King County, 72 of which are in Seattle neighborhoods within about 6 miles of the downtown core and primarily made up of apartments and condos.  Rents continue to be competitive in the real estate market.

Wednesday, April 16, 2014

Madrona Rental Home: $2,450

Madrona rental
*Synced from Seattle Luxury Rentals. 
This adorable brick home just across from the Madrona Playground is now available for rent! Located just two blocks from St. Therese Madrona Elementary, this home features a large living room with a separate dining room, and a lovely kitchen with spacious cabinet room and room for a small table. There are two large bedrooms on the main floor, and the downstairs has a 3rd bedroom that could also be used as a family room. The garage is perfect for one car and has a ton of storage space, or could be used as a work area. The home also has a sizable backyard that is partially fenced with a small patio perfect for BBQs in the summer months. For more information on this rental or other Seattle rental homes, contact your local real estate agent today.
Status: For Rent
Bed//Bath: 3//1
Price: $2,450

Wednesday, August 28, 2013

Rising Seattle Rents Show No Signs of Slowing Down

Hundreds of newly built rental units opened up this past year in Seattle, but the demand for more inventory and rental prices have continued to rise, with little to no signs of slowing down. Many renters and homeowners are having to reevaluate their lifestyle changes to keep up with the market today. According to the Seattle Times, wealthy folks are helping to revitalize different neighborhood business districts, but many renters are tied down by mediocre wages, and are being forced to reevaluate their lifestyle, or move out of the city altogether to make ends meet. With low inventory and a growing young tech community of employees, the time to buy a home is altered, and has contributed to the increase in rent through Seattle and the surrounding areas.
Photo credit: www.third-estate.com

According to the Times, the cost in renting a studio apartment over the last two years has risen $434 in Wallingford, $419 in Capitol Hill, and $306 in Ballard. The increase in rent is also being fueled by development. With a majority of new development geared for wealthy renters, the increase in inventory will not come to the aid of those just barely scraping by. Many Seattle renter are frustrated with the rise in costs, and are concerned they may not ever be able to save up enough money to buy a home. Many are worried that by the time prices calm down, the Seattle metro area will have a very different look and feel then when they moved to the city. For more information on Seattle Rentals, contact your local Real Estate agent today.

Wednesday, July 24, 2013

First Hill Rental: $3,000/Month

first hill


This beautiful one bed two bath unit in First Hill is now available for rent, with an open floor plan, and an abundance of natural light. The unit features a wonderful chef’s kitchen, with top of the line appliances, and custom cabinets. It also features stunning views of Mt Rainer and Mt Baker. The master suite includes a built in office for your convenience, a steam shower, and alot of space. This unit is located in close proximity to Seattle University, Virginia Mason, and Cal Anderson Park.

Status: For Rent
Bed/Bath: 1,2
Price: $3,000/Month

Wednesday, May 22, 2013

Seattle Ranks #3 in Best US Cities for Dogs

dogsThe month of May is National Pet Month, and in an urban pet-loving city like Seattle, we’re highly set in our pet pampering ways. In a study conducted by the Estately blog, Seattle ranked #3 in the best US cities for our furry friends. Although Seattle doesn’t have as many sunny days as San Diego (ranked #2) or even Portland (ranked #1), we make up for it with our culture and communities committed to happy healthy pets. It may surprise some (but not most) to know that in recent years, Seattle’s dog population within the city limits has surpassed it’s children, and unlike many other fun loving dog cities, we even let our dogs ride on most public transportation; metro buses, ferries, light rails, and local seaplanes!
Along with the growing number of off-leash dog parks we have spread across the emerald city,  owners can check the Seattle Dog Spot calendar for weekly activities, stop in and buy treats or toys at locally owned MudBay,  or if you’re going on an adventure, REI sells over 150 products dedicated to dog-related outdoor activities! For Seattle rentals that accept your furry friends, contact your local real estate agent today.