My wife and I rent out a single family home in Olympia for 20% below the market rate. (We have limited rent increases as we want to retain a stable long-term tenant.). While I understand the pressure on elected officials to do something to make housing more affordable, I am concerned that the intensifying regulatory environment will lead many small landlords - such as ourselves - to exit the market. As single family rentals are converted to owner occupied homes, the housing stock will shrink and the remaining rental market will be increasingly controlled by corporations. (Unlike small landlords, corporations have the bandwidth and infrastructure to manage a complex array of regulations.). One way to avoid some of these problems would be to exempt small landlords by limiting the new regulations to entities that own more than 5 units. The city could monitor the impact of the new regulations without risking the negative impacts described above.
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