Covid-19 Impacts to Business
Spokane County, Washington State and the Federal Government have initiated emergency programs that can help businesses and individuals affected by the Coronavirus Quarantines.
UPDATE: REALTORS® GET BACK TO WORK ON A LIMITED BASIS
March 28, 2020
Governor Inslee has issued Essential Business Guidance memorandum that allows REALTORS® to resume work with limited in person activities.
These protocols include:
- In-person activities must be by appointment only;
- No more than two people, including the broker, may be at the property at any one time; and
- Those two persons must strictly follow social distancing guidelines established by the Centers for Disease Control and Prevention (“CDC”) by remaining at least six feet apart at all times.
The revisions to the Order are limited to allow the following in-person activities, provided the above protocols are followed:
- Previews and showings of listings by appointment only;
- Listing presentations, photography, and creating virtual tours for new listings
- Inspections for pending transactions;
- Appraisals for pending transactions;
- Buyer “walk-throughs” for pending transactions prior to closing; and
- Providing keys to buyers at closing.
Note: professional photographers are not considered “essential,” thus all photos must be taken by the broker or seller
No other in-person real estate brokerage activities are permitted.
CLICK HERE for more information
REALTORS® Declared Essential by Department of Homeland Security
CLICK HEREto read the official declaration
Key REALTOR@ Websites for information
March 27, 2020
The US House of Representatives has passed a Coronavirus Stimulus package.
CLICK HERE for a look at how this will affect REALTORS®
March 26, 2020
The U.S. Senate passed a $2 trillion COVID-19 economic relief package Wednesday night with overwhelming bipartisan support.
The measure now goes to the House. This includes $350 billion for the Small Business Administration 7(a) loan program. Under the terms, eligible businesses (500 employees or fewer) can get up to $10 million toward mortgage interest, rents, utilities, and payroll costs. A portion of these loans will be forgivable.
CLICK HERE for more information
March 25, 2020
There are a number of challenging questions facing REALTORS® – ranging from home inspections, to online notary services.
Your Washington REALTORS® are working to address these issues.
CHECK HERE for the latest newsletter
March 24, 2020
New guidance from Washington REALTORS®
Among the issues being addressed:
- Pending Sales
- Ongoing Real Estate Brokerage Services
- Associated Real Estate SErvices
- Property Management
- Remote Notarization
- Extension of Expiring Real Estate Licenses
CLICK HERE for the latest newsletter from WR
March 23, 2020
Governor Inslee issues a Stay Home, Stay Healthy order that requires:
- Every Washingtonian to stay home with the exception of essential activity.
- Bans all gatherings for social, spiritual and recreational purposes.
- All businesses close except essential businesses
REALTORS® are not considered part of this essential business group.
- READ WR’S GUIDANCE HERE
- CLICK HERE to read the Governor’s Official Proclamation
- CLICK HERE to see the official State of Washington Essential Business list
March 20, 2020 FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages
The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency. More information here
March 18, 2020
- Spokane County Assessor, Auditor & Treasurer will be transitioning to Virtual Customer Service beginning Thursday March 19th and continuing until May 1st. More information here
- Gov. Jay Inslee announces 30-day statewide moratorium on evictions for residential tenants.
Strategies for Business
From encouraging employees to work from home, to best practices for cleaning your workspace, the CDC has put together this helpful guide.
Financial Resources for Washington Residents Impacted by COVID-19
This resource offers help for everything from accessing unemployment benefits for temporarily displaced workers, rent and mortgage assistance, paying utilities and short term loans.
Tax Relief for Businesses Affected
The Washington Department of Revenue has some tax relief options for businesses
Paid Sick Leave and Coronavirus
Information and guidance from the Washington Department of Labor and Industries on use of the state’s paid sick leave laws in connection with the recent coronavirus (COVID-19) outbreak.
Financial Resources for Businesses
Small Business Loans
The federal Small Business Administration (SBA) may be able to provide assistance through the Economic Injury Disaster Loans program to businesses that have suffered substantial economic injury in an eligible disaster area. These loans can help small businesses meet financial obligations and cover operating expenses.While Spokane County is not yet listed under those counties directly affected, it’s anticipated this status will soon be changing.
Extensions on Tax Filings
The Washington State Department of Revenue (DOR) can work with impacted companies that request an extension on tax filing. The law grants the Department authority to extend the due date for excise tax returns. A business may request such an extension from the Department prior to the due date of the return, and, if granted, the business would be allowed to delay reporting and paying its tax liability. If a business needs an extension of more than 30 days, the law requires the Department to collect a deposit from the business. The amount of deposit required is based on the business’ reporting history and how many reporting periods are covered under the extension WAC 458-20-228 (13). For more information call the DOR at (360) 705-6705
The Washington State Employment Security Department (ESD) can provide support in the form of unemployment benefits. For employers that want to keep from losing highly-trained employees, these unemployment benefits can be received through, or while covered by, Shared Work, Partial Unemployment and Standby (which allow certain workers to collect unemployment while remaining with their employers and not actively seeking other jobs). Click here
Medical Leave Benefits
ESD’s Paid Family and Medical Leave program can provide paid leave benefits for Washington workers who need to take time off from work due to a serious health condition or to care for a family member with a serious health condition. Certification by a healthcare provider is required for applications for Paid Family and Medical Leave due to a serious health condition. Click here
If COVID-19 disrupts a Washington business and causes a mass layoff or closure, ESD and its local workforce development board partners can respond with Rapid Response services and funding to help impacted workers get connected to unemployment benefits and re-employment services, including re-training, worker support services, and referrals to other social services. Click here
Check back for updates on this page