benkjls' Blog: Real Estate Legislation
A Little Too Late? Washington Condo Conversion Legislation
This morning the State House convened to review the condo conversion bill (HB 2014) which passed its third reading by a vote of 94 to 1. The House version of the bill:
- Extends the notification period from 90 days to 120 days.
- Authorizes a city or county government to require developers to provide relocation assistance to low-income tenants in an amount to be determined by the city or county government. Currently, the state requires a $500 relocation assistance payment to low-income tenants.
- Prohibits construction within the 120 day notification. Though, construction may begin earlier provided the developer waits at least 12 hours after the last tenant vacates.
- Authorizes cities & counties to restrict the number of conversions.
On…
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Posted: 8 months ago,
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Seattle Real Estate Consultant and condo expert specializing in urban city lifestyle living.
Ben maintains Seattle's most popular condo blog (Seattle Condos and Lofts) and also provides content to the Seattle NBC affiliate, King5 TV. Read More
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