These regulations will push individual landlords out of the business, turning more rental management over to professionals. They charge 10% of the rent to the building owners. That will drive up rents. Plus the professional managers are often not as accommodating as individual rental owners.
I sold my rentals several years ago because the hassle of being a landlord overwhelmed the economic benefit of being a rental owner. It's easier to invest my retirement funds into mutual funds, which generate a similar return on investment without any of the hassle.
Soon Olympia will have fewer rentals, higher rents, and less accommodating rental managers as a result of this approach. It will backfire on the tenants, who will pay more and have a less cordial relationship with their landlords.
It should be limited to apartments, nearly all of which are corporate-owned and professionally managed. Leave the small individual landlords with only light regulation.
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