Financial independence means that income from your investments (like, oh, I don’t know, rental properties) is enough to cover your living expenses. In other words, you’re no longer “dependent” on your job to pay your bills. Sound familiar? Not so quick. If you are like me and if you are at all in tune with the new bills being heard and laws being passed in 2020-21, your head is spinning and your bank account may be seeing RED!
Let’s take a vote on what words you heard most in 2020. “Covid-19”, “Free Rent”, “Uncharted Waters”? Wait a minute- you are a land lord the only thing you heard was “NO, NO, NO”. Serve NO notices, collect NO late fees, NO raising rent, and the latest in Seattle? NO asking tenants to vacate because you want to sell your own property OR move back in! Can you believe that one? Me either! So, where do you go from here?
My name is Erica, and I am a property manager, landlord, real estate investor, and founder of Elita Living, as well as a die-hard dog lover. Things have changed in the world of property management. Did you have any idea that there is a new definition of “landlord” as extensive as the new definition of “family” in Seattle? As a landlord today, your expertise should expand far and wide to include an attorney (insert scary emoji face) psychologist, caretaker, videographer, etc... The definition of family in Seattle? Check this out, here it is, “ “Immediate family” is defined very broadly to include: spouses, domestic partners, former spouses, former domestic partners, adult persons related by marriage, siblings, persons 16 years of age or older who are presently residing together or who have resided together in the past and who have or have had a dating relationship, and persons who have a parent-child relationship, including parents, stepparents, grandparents, adoptive parents, guardians, foster parents, or custodians of minors.”
Whoa! Let that sink in. Are you tired yet? Too many laws to follow? You just flat don’t have time for this nonsense? This doesn’t sound like what you signed up for? We get it! My partner, Amanda Larocca, and I are ready to step in and help navigate these “uncharted” waters and alleviate your pain. After all the years we have collectively spent in the property management industry we aren’t going to stop now. Onward and upward! Let’s chat soon! Zoom Zoom Zoom
*Because we want you to feelgood about being a landlord don’t forget Jay Inslee's closing remarks on the moratorium, “...this order further acknowledges, applauds, and reflects gratitude to the immeasurable contribution to the health and well-being of our communities and families made by the landlords, property owners, and property managers subject to this order.”