Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

City Considers Conversion Fine

By on September 20, 2007 in Condo News - Conversions, Real Estate with 0 Comments

While the State seems unable to agree on a conversion bill, the Seattle City Council is taking baby steps to assist low-income tenants. Earlier this week, the council’s Housing, Human Services and Health Committee moved forward Bill 116022 that would fine developers $100 per unit per day if they fail to provide notice to low-income tenants that they are entitled to a $500 relocation assistance payment.

Seattle has seen a proliferation of condo conversions the past few years. Since 2004, approximately 3% of the city’s apartment inventory has been converted.

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About the Author

About the Author: Ben Kakimoto is a Seattle condo and urban real estate marketing & listing specialist. Contact Ben to learn more about the Seattle condo and loft real estate market or about buying or selling a Seattle area condo. Find Ben on Google+, Twitter and Facebook. .

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