Real Estate News For Spokane Washington State Landlords
New Real Estate laws may be headed your way Spokane landlords.
Washington state may be the first state to establish a financial-loss mitigation fund for Real Estate landlords.
Senate Bill 5407 establishes a fund to reimburse property owners for a maximum of $1,000 of damages that may be caused and up to 14 days of rental losses by tenants who rely on income from Social Security, veterans benefits or Section 8 housing vouchersand up to 14 days of rental losses. It also prevents landlords from turning down these type of applicants.
The Senate and House approved separate bills Friday. The new Real Estate measures must now be reconciled before final approval.
Food for thought when considering to use a professional property manager.
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