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They’re making it worse
I am a typical Spokane “mom and pop” landlord. I own just two small rental homes in Northeast Spokane. I bought these two properties to create additional income in my retirement. I am a conscientious landlord. I keep both units in good condition, attractive both inside and out, and I respond to and try to correct any problems within 24 hours.
I rent each of these at a reasonable $800 per month, well below the typical $1,000 for an apartment. Not bad for a well-kept 2-bedroom 1-bath, fenced yard standalone home. Therefore I am watching with interest the progress of the proposed Landlord Tenant Ordinance.
If the city is looking for a good way to make the rental housing shortage worse they have hit upon a great way to accomplish that goal. As a landlord, I have no way of knowing if a potential tenant is or may become “rent burdened.” This makes me a sitting duck for the $2,000 fee that I may have to pay to help relocated my tenant. It isn’t worth the risk to continue to be a landlord.
So here is what I plan to do if this ordinance becomes law. As each of my tenants notifies me that they plan to vacate, instead of re-renting the houses, I will put each up for sale, thus benefiting from the current home sale price bubble. I will also rid myself of worrying about getting sucked into a $2,000 fee. I have a feeling that I will not be the only small-time landlord to find this solution.
So there it is: the City Council has thought up a way to make a problem even worse.
Sharon Piper
Spokane