A landlord's perspective

When I signed my most recent lease, my tenant negotiated a slight increase in rent in exchange for a 2 year lock on the price (I gave 3 years).

I do not feel a need to maximize rent just because the market has gone there. A tenant should have the right to some stability.

While I am now far below current rents, I am fine with that. Where this will become a problem is with the new property valuations. This will surely drive my costs up while my income is prevented from moving with it.

When my 3 year lock expires, catching up will unlikely be a gradual move which I will be discussing with my tenants well in advance.

The issue is when legislation is passed to address the abusive corporate landlords. Some bills usually limit the raise of rent to a percentage without any look-back to determine trends or history for the particular property or landlord.

I am hoping that if Bellevue moves towards restrictions on rent gouging, they take a balanced approach that doesn't leave me forced to sell to the corporate landlords that are creating this nightmare.

Just my perspective, thought I would share a side not often addressed.