Seattle's push to add additional regulation, compliance, fees and inspections has resulted in an exodus of small landlords, which are down anywhere from 19% to 22% in four years depending on how you slice it, and an explosion in large landlords which are up 77% in the same period.
The city has basically consolidated the rental market so it works best for large corporations. Was that the intent?
Small landlords don't own apartment buildings. They buy houses/units to rent, lowering availability for buyers. So, you'd at least want to look at the number of new apartment rentals available plus the number of first time house buyers to get a better picture.
Small landlords also rent out basement suites and carriage homes on their own property, no? Those may very well sit empty if the return isn’t worth the risk.
Editing to just add: I absolutely support transparent pricing for rental properties.
pnw · · focus · HN ↗
The city has basically consolidated the rental market so it works best for large corporations. Was that the intent?
tonyhb · · focus · HN ↗
standeven · · focus · HN ↗
Editing to just add: I absolutely support transparent pricing for rental properties.