The King County Superior Court recently upheld a Seattle Ordinance that limits the amount tenants are required to pay for move-in fees and security deposits. Seattle Ordinance No. 125222 (the “Ordinance”), which was adopted by the Seattle City Council on December 12, 2016, limits the amount that landlords can charge tenants in up-front charges, including […]
Zillow Group, the Seattle-based online real estate database and creator of its proprietary “Zestimate” home valuation estimation algorithm, is being sued in the U.S. District Court for the District of New Jersey. Plaintiff EJ MGT LLC is alleging that the Zestimate is an inaccurate estimation tool, and that Zillow has violated antitrust laws by entering […]
Rentals for vacationers and travelers through platforms such as Airbnb, VRBO, HomeAway, and Vacasa have seen a surge in popularity over the past few years, and offer an alternative to the traditionally available options like hotels, resorts, and hostels. With the increase in consumers seeking alternative options, more and more property owners are embracing the […]
Over the course of the past several years, an enormous market for short-term and vacation rentals through platforms such as Airbnb, VRBO, HomeAway, and Vacasa has developed across the U.S. and worldwide. Operators of these short-term rentals range from homeowners and hosts renting out a spare bedroom, mother-in-law unit, or apartment, to larger operators renting […]
On December 13, 2016, the City of Seattle Hearing Examiner ruled that the City of Seattle must perform an Environmental Impact Statement (EIS) before moving forward with proposed legislation that would ease restrictions on the construction of accessory dwelling units and detached accessory dwelling units. Accessory dwelling units, commonly referred to as ADUs or mother-in-law apartments, […]
The Washington State Pollution Liability Insurance Agency (PLIA) has just announced a new revolving loan and grant program under which low interest loans of up to $2 million are available to install, retrofit, close or clean up underground storage tanks (UST’s) on contaminated commercial properties. The grant or loan can be used on any site […]
In an attempt to address concerns of housing affordability, the Seattle City Council approved an ordinance that seeks to ensure access to rental housing for tenants while imposing new rules on landlords. The new ordinance is set to go into effect on September 7, 2016. In general, the ordinance includes the following changes in Seattle’s […]
On April 4, 2016, Division I of the Washington Court of Appeals declared that a landowner may remove tree roots that encroach onto his or her property – even if it severely damages, or possibly even kills, the tree. This decision is surprising on a number of levels. The case is known as Mustoe v. […]
Commercial property owners contemplating a refinance may find themselves being offered non-recourse financing through a loan that is being packaged as a Commercial Mortgage Backed Security (CMBS), otherwise known as a “securitized” loan. The financial terms are often attractive, as is the “non-recourse” feature.
In 2014, Seattle’s Rental Registration and Inspection Ordinance (RRIO) was implemented, requiring landlords and property managers to register all rental housing units in Seattle with the City of Seattle.