COVID provisions still affecting Washington state?
Hey all,
We have a lease drafted up (it is actually from bigger pockets) but we were warned from our lawyer that there are a handful of COVID provisions/addendums in Washington state that it might be out dated or out of touch. We also have an uncle who is an investor as well, he told us that he hasn't changed anything to his leases and not to worry. The lawyer's fee to draft an updated lease is $850, I'm just curious if there are any other WA state investors that have run into this issue, if the lawyer fee is worth the time/effort because we are ignorant to a specific law, or if the lease that we have already is fine. Thank you all ahead of time
N&T
There have been so many changes to the tenant-landlord law over the last few years, both statewide as well as many city counsels trying to match/outdo Seattle that it’s almost impossible to keep track. Join RHAWA (Rental Housing Assoc of WA) or Washington Landlord Assoc and use their attorney-drafted contracts. They keep current with state and local legislation (a whole lot cheaper than an attorney and you get other benefits as well)!
That is awesome, thank you Curtis, very helpful.
@Nick Littleton you can also look into Washington Landlord Association. They also offer the latest updated leases but are a more affordable option if you do not have a lot units. We started with WLA and moved to RHAWA as we got more units.
John
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#1 Personal Finance Contributor
- Rental Property Investor
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I attended a landlord tenant law update presented by an attorney, sponsored by Keller Williams. Things are definitely different. Your uncle needs to be ignored on this one.
The biggest things I took away were 60 day notice (2 full months) to modify rent or terminate and leases that offer the most LL protections are 6 months or 12 months because you can terminate without cause (if occupied less than 12 months) with 2 full months notice. Notices and and cause being required or not is thicker if they've been there more than a year.
Not sure if $850 Is worth it, but I would say yes if this is a quality RE, tenant and contract focused attorney and landlording to you is more than a hobby.
Quote from @Nick Littleton:Nick,
Hey all,
We have a lease drafted up (it is actually from bigger pockets) but we were warned from our lawyer that there are a handful of COVID provisions/addendums in Washington state that it might be out dated or out of touch. We also have an uncle who is an investor as well, he told us that he hasn't changed anything to his leases and not to worry. The lawyer's fee to draft an updated lease is $850, I'm just curious if there are any other WA state investors that have run into this issue, if the lawyer fee is worth the time/effort because we are ignorant to a specific law, or if the lease that we have already is fine. Thank you all ahead of time
N&T
You can do a quick internet search of landlord covid restrictions in your area. i.e. "Bellingham covid rental restrictions" to find out if you even have any.
read a RHAWA lease contract that gave rights to collect rent to the bank holding the note on the property, side-stepping the owner completely if they even got behind on one payment. That is not 'landlord friendly' language, imo. written by corporate attorneys for the benefit of other corporate attorneys.
If you don't feel comfortable amending a line or two in a Word document for your lease to address a possible change due to covid, then I would shop attorneys for price. Get the lease that protects YOU, not the cookie cutter. Just my two cents. Best of luck ;)
Attorney here. The laws vary by jurisdiction and are a pain to keep up with. If your lease is not compliant, you’re putting yourself at risk. Whether or not $850 is reasonable depends on how thorough your current lease is and how much needs to be drafted to make it compliant. It might be an investment, but it could save you a lot more in the long run. Good luck!
Quote from @Samuel Meyler:
Attorney here. The laws vary by jurisdiction and are a pain to keep up with. If your lease is not compliant, you’re putting yourself at risk. Whether or not $850 is reasonable depends on how thorough your current lease is and how much needs to be drafted to make it compliant. It might be an investment, but it could save you a lot more in the long run. Good luck!
Hi Samuel,
Do you handle signing off on lease purchase agreements for investors? I write the agreements and you finalize signatures in your office for all parties - for a fee of course.
Meg~
Quote from @Meg Harrison:
Quote from @Samuel Meyler:
Attorney here. The laws vary by jurisdiction and are a pain to keep up with. If your lease is not compliant, you’re putting yourself at risk. Whether or not $850 is reasonable depends on how thorough your current lease is and how much needs to be drafted to make it compliant. It might be an investment, but it could save you a lot more in the long run. Good luck!
Hi Samuel,
Do you handle signing off on lease purchase agreements for investors? I write the agreements and you finalize signatures in your office for all parties - for a fee of course.
Meg~
Hi Meg,
Yes, I can handle this. Reach out at your convenience and let's discuss it. My office phone number and website are in my signature below. Look forward to chatting with you.