New ordinance in Tacoma
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@Christen G. The Washington Landlord Association is having their monthly Tacoma meeting on Monday the 11th at Elmer’s on Hosmer at 6pm. This is one of the issues they will address.
As landlords we have to be conscientious of not just the law, but the very human affects of the decisions we make. Our culture is responding to emotions, feelings, and perceptions over the rule of law. The city council is taking an emotional response to this issue rather than taking responsibility for policies that hinder adequate development.
While unemployment is nearing 50 year lows, and personal incomes are on the rise, the marginalized are getting left behind and are suffering.
Subsidized housing (sec 8, community action, etc.. that depend on hud funding are not keeping pace with either the market or the basic increased cost of doing business ... I.e. huge property tax increases (I am experiencing 17% and I’m not even close to Seattle increases!) insurance increases of 15% this year AND I just got a notice from the city of a 10% water increases for each of the next 4 years! These costs always get passed on to the resident.
Add to that that the county assessors job is to tax your property according to its highest and best use (which the Tiki Apartments are working toward) and we have a vicious cycle working against affordable housing.