12/18/2024
Hey Friends!
If you own a rental property in Olympia, WA...here will be some of the new mandated compliance requirements starting January 1, 2025.
New City of Olympia Rental Registry requirements...
1. Annual Registration per unit with the City of Olympia, including registration fee for each unit.
2. Submit a declaration of compliance.
3. Obtain a City of Olympia business license with UBI from the Department of Revenue.
4. Have all properties inspected every 5 years by a licensed 3rd party inspector who is certified by the City of Olympia.
5. No costs from registration fees, business license, or inspection fees can be passed on to tenants.
6. Violations of code requirements will be subject to civil penalties or suspension/revocation of business license.
7. A required Rent Roll document must be submitted in tabular format which shall include full list of units, number of bedrooms, number of bathrooms, total square feet of each unit, and monthly rental rate for each unit.
Here are a few more pieces of info you'll want to know about found in the FAQ section of their website.
"The energy efficiency audit will be developed further over the next few years..."
"...landlords must pay relocation assistance to tenants if a property is condemned."
"The landlord may also be required to pay relocation assistance if the tenants are forced to move out because the unit needs substantial repairs that cannot be done with the tenant in occupancy or if the unit will be demolished"
"If rent is increased by 7% or more over a 12-month time period, you can request relocation assistance within 45 days of receiving the rent increase notice to move out. The landlord then has 31 days to pay the relocation assistance." (Which is 2.5 times the rent paid)
For more information...here's a link to the City of Olympia Rental Registry webpage.
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