The Washington State Legislature now has 371 bills related to housing in various committees. This promises to be an interesting week with Friday the 17th being the last day to read in committee reports (pass bills out of committee and read them into the record on the floor) in house of origin, except House fiscal committees and Senate Ways & Means and Transportation committees.
Here are a few of the key bills we are tracking that have already passed their respective houses.
Exempting Residential Sale/Leasebacks from Landlord-Tenant Act HB 1070/SB 5337 When a house is sold, sometimes the seller is not yet ready to move out, or the buyer is not able to move in. In this situation, the buyer and seller will agree to a written “leaseback” as part of the sale so that the seller stays in the house after closing for a certain period of time. This is not a typical landlord-tenant type situation, so this bill would clarify that a sale/leaseback is exempt from the state’s landlord-tenant act. HB1070 has already passed the House and is now in the Senate for consideration.
Converting existing buildings to residential HB1042 Concerning the use of existing buildings for residential purposes. Has passed the House and is now in the Senate.
Expanding Housing Finance Opportunities HB1046 Expanding housing supply by supporting the ability of public housing authorities to finance affordable housing developments by re-benchmarking area median income limits. Has passed the House, and now headed to the Senate.
Limiting HOA Authority HB1054 Addressing the authority of owners’ associations in common interest communities to regulate or limit occupancy by unrelated persons. Has passed the House and now heads to the Senate
You can follow the key bills of interest to REALTORS® and our clients HERE