Seattle landlords are selling propery by new rules

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Real Estate

SEATTLE - William Shadbolt shows off his newly remodeled Belltown studio he owns and has rented for $1,195 a month.

But, he has decided to sell it, not because he no longer wants to be a landlord, it's that he no longer likes being a landlord in Seattle.

“After all the different ordinances the City has passed, it just wasn't worth renting out property in the City of Seattle,” said Shadbolt. “We are just about to list it for sale for just under $300,000.”

It’s a price few renters could afford to pay and that’s why they rent. It’s also one less rental property available in a tight rental market.

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