Seattle landlords - what's your experience been like?
Considering buying a STR property in Seattle instead of the Eastside, but I'm concerned about the city council - their laws around crime as well as landlord regulations. How has your experience been as a STR owner? I heard they're hard on landlords, but maybe not on STR owners - is that true? Also, has crime impacted your STR and guests?
Hi Stacey! Real estate agent here in Seattle and also have a STR/MTR in Seatac and Burien. I haven't had any crime impact my properties but I do have alarm systems and security cameras on the outside just in case. My tenants and guests have had good experiences so far as well. I also have friends that operate STR in Seattle and their experience has been good too. I think if you have the right systems in place and proper insurance then it will help with the fear of break-ins if that's what you're concerned with. Happy to answer any questions you may have if you want to DM :)
Quote from @Stacey H.:
Considering buying a STR property in Seattle instead of the Eastside, but I'm concerned about the city council - their laws around crime as well as landlord regulations. How has your experience been as a STR owner? I heard they're hard on landlords, but maybe not on STR owners - is that true? Also, has crime impacted your STR and guests?
To add onto what @Dennis Nguyen said, Eastside STR regulations are pretty strict. Seattle is one of the few metropolitan areas that's actually more favorable toward STRs (1 owner occupied one & 1 non-owner occupied one).
I have a 5 properties under STR management in Seattle & we've had 1 bad guest so far, but aside from that, there's been no issues when it comes to crime.
@Stacey H., I have STR in Seattle and out of Seattle and had no issues. The vacancy is very low and mostly smooth operation. It slows a little during winter, but this is a normal seasoning thing.
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I have a long term rental in Phinney ridge and crime has become more of a nuisance recently to the tenants. Graffiti has increased substantially since the pandemic too.
On a side note, I would be curious to learn more about your STR modeling too — I have been looking for places across the state, including Seattle, but the math just doesn't pencil for me. I must be missing something!