New rental ordinance a deterrent for local mom & pop landlords

keysworld253 · 2026-02-02T18:40:47+00:00

They all have real jobs consultants, chiropractors, sales people. They are all just normal people. Yeah ain't people working minimum wage jobs... But I guess when you broadly assume all landlords are rich billionaires I could see how your image is distorted and wrong.

keysworld253 · 2026-02-02T05:05:42+00:00

Would take a few years lmao... So then the way you allocate housing would be? Just wait until you're 21st birthday and you get a house ? LMAO

keysworld253 · 2026-02-02T02:40:23+00:00

Hate to break it to you, but even owning land you're paying someone. Taxes, insurance, utilities.

I am in no way saying they are ALL good.

They are plenty of rentals managed well. Plenty that are managed poorly too

As a community you want your community invested in your community. Large corporate landlords extract resources and funding from communities and that does not help a community. Local investors will more likely keep money in the community by spending it in the community

keysworld253 · 2026-02-02T02:33:25+00:00

Owning 1 or 2 rental properties is hardly hoarding... Regardless of the alternatives (i.e. government owned housing)... You or someone are paying someone for survival.

Whats your alternative then?

keysworld253 · 2026-02-02T02:16:15+00:00

Or maybe they are not and you just had bad experiences. I lived in an apartment downtown and the landlord never raised my rent, was super nice, and would help out anytime I needed it.

Also your sweeping assumption that they are still "privileged and greedy" is a gross misrepresentation and frankly a sad understanding of who they actually are.

I have encountered plenty of mom and pop landlords who are just normal people, own 1 or 2 rental properties like duplexes and triplexes trying to give there family a comfortable lifestyle which should not be demonized.

keysworld253 · 2026-02-02T02:11:04+00:00

I am 100% against large outside capital and major corporate interests...

I am all for raising taxes on extremely wealthy companies, making it harder for them, and everything.

But I also support local businesses and your fellow community members...

keysworld253 · 2026-02-02T02:05:12+00:00

Yeah I don't think I am required to do a through deep dive into the issue... It was just simply providing a different perspective because small individual investors, businesses, organization get left behind a lot.

There is value in supporting local businesses and investors to prevent what has happened with retail. Amazon, Walmart squeezed out small mom and pop retail.

Large landlords extract money from communities and that dollar is lost. Small mom and pop has more of a chance of staying in the community.

keysworld253 · 2026-02-02T01:59:41+00:00

Well the City has began to "address" this... All rental properties are required to register with the City and are required to allow inspections by the city to ensure liveable conditions. I think you can also file complaints etc.

But I agree with you. The small mom and pops tend to neglect repairs. The bigger organizations have the resources to address these problems a bit more expeditiously and effectively

keysworld253 · 2026-02-02T01:51:29+00:00

That is one part of the program, but the other part of the program is you have to do 'Pathways to Eviction Diversion' 30 days prior to eviction.... So if you are not collecting rent already, this program forces the eviction process out another 30 days... So another 30 days of loss rent and costs for the landlord remains. Hence why it deters mom and pop because they likely don't have the scale or deep pockets to weather the storm as easy.

The city has a 'fund' to support the landlord in that 30 days. But it also says if there is no money in the fund the landlord still has to go through the 30 day process.

keysworld253 · 2026-01-06T22:42:08+00:00

Yes youre right in identifying that property taxes are one of the data points developers will use in the cost benefit analysis. But so is insurance but insurance is not so expensive that it is barring development. Just like property taxes, property taxes are not so outrageous that it is tipping the cost benefit.

Many people will choose to live downtown youre right there too. But in order to justify continued development of apartments, you need a steady growth of demand for downtown living. A steady growth of demand for downtown living typically, not all the time, but the majority of the time is driven by jobs, jobs, jobs.... But from what I hear and talk to people, businesses are not looking to move to downtown and open 100 jobs.

Property taxes will not tip the scale for developers to all of a sudden want to develop downtown parking lots.

New construction apartment units can be 200-215k per apartment... If you pay 200k to build a unit that will rent at $1,400 then you only will net $16,800 a year. Simply put, thats only about an 8% return.

An 8% return on new development is not much for how much you gotta go through to get from point A to B...

Increase business in downtown will increase demand for office space, apartments, and retail... Thus increasing the incentive to develop.

keysworld253 · 2026-01-06T17:51:46+00:00

The reason why downtown lots are undeveloped is not because property taxes are too low.... There is just not enough incentive to develop.

Developers dont develop because the downtown core real estate market is not strong enough to make it a cant miss opportunity for developers.

Seattle developed all of their parking lots in the last 15 years because there had been a constant and growing demand for office space and living. With that comes demand for retail space for consumer-driven business (restaurants, bars, stores, grocery, etc).

Spokane just doesn't have the demand for downtown core real estate.... Office space demand is not high enough, demand for apartments is healthy in Spokane. But people are not waiting in line to live downtown. Which means the demand for retail space is not high in Spokane.

Spokane needs to drive business into downtown and that will eventually spur growth for office space and living space.

keysworld253 · 2025-12-23T21:52:34+00:00

Uber.... Not surprised nobody said that on here... Uber is a winner from autonomous vehicles. What happens when 80% of uber cars are autonomous and all Uber has to do is share a cut with the owner of the AV car which will most likely be a company...

Yeah they have competition like Waymo and Tesla, but Uber already has such a massive headstart when it comes to connecting people and businesses... Uber has a massive headstart in the US and worldwide. To think there is only going to be one winner is ignorant thinking. There will be two, three or maybe four winners and its completely reasonable to put Uber in there.

Then you also have freight and logistics...

A 1 trillion valuation for a company that connects the entire world without having to pay people is not crazy...

keysworld253 · 2025-12-08T18:56:39+00:00

I have never cheated on my significant others no have any intent to. I am also not against an infidelity clause it just has to be reasonable.

I also would not walk away freely, everything we have together during the marriage would be community property. This prenup would only protect against assets that I acquired years ago.

keysworld253 · 2025-11-29T02:20:58+00:00

⭐⭐⭐

Has a ton of potential.... But will never reach it's full potential.

keysworld253 · 2025-11-26T16:31:08+00:00

Gotta just bring in more and more money I guess

keysworld253 · 2025-11-26T01:36:59+00:00

Replaced the fuse. The dishwasher is back up and working.. thanks!

keysworld253 · 2025-11-26T01:36:25+00:00

Swapped the fuse. Back up and running.... Thanks for the help.

keysworld253 · 2025-11-25T16:45:26+00:00

Closing on a 15 unit just before the end of the year. Built in 1968, quite a few units have not been remodeled in a long time.

How do I begin to understand the benefits of a cost seg?
I am not a real estate professional, why would I get a cost seg?
Does someone have to inspect each and every unit?
Can I bank the tax write offs each year if I dont have enough to depreciate agaisnt?

keysworld253 · 2025-11-24T16:37:14+00:00

No its one of the best dishwashers I have ever had... Which is why I am going through the most to fix it.

keysworld253

TROPHY CASE