Commercial Leasing Terms in Seattle, What Tenants Need to Know

Seattle and the state of Washington continue to be in a constant state of expansion. New commercial buildings are springing up left and right; in fact, Seattle tops the nation as the city with the most tower cranes for the third straight year in a row. With new developments come new commercial spaces, and if you’re in the market for office, retail or industrial rental space in the Emerald City, lease negotiations are going to be in your near future.

Adverse Possession in the State of Washington

Adverse possession, more commonly known as “squatters rights” is an interesting situation, often fueled by surprise and emotion. Property owners understandably take matters concerning their residential home, including the dirt within its boundary, personally. To provide a quick definition of adverse possession, if someone has had possession of a piece of property for a long time (ten years in the state of Washington) that person could possibly be entitled to direct ownership.

Issues with Loan Opinion Letters

Are you in the process of developing real estate in Seattle? Are you from out-of-state? It is likely that your lender will require a loan opinion letter. Loan opinion letters are provided by legal counsel for borrowers and provide a number of opinions including the assurance that loan documents will be binding under the law of the jurisdiction, the borrower and guarantor entities have the necessary signing authority, and that such entities have been properly formed.

The Dos and Don’ts of a Corporate Business Dispute

As noted in our previous blog, the best way to prevent a corporate business dispute is to prepare for it with your partners. But, that doesn’t always happen, and when a disagreement occurs, things can get ugly, fast. If you’re in the beginnings of a dispute, how do you prepare for it and weather through with success? Holmquist & Gardiner provide some essential Do’s (and one Don’t) based on years of experience both inside and outside the court room.

Landlords Cannot Deny Prospective Tenants Based on Source of Income

Oftentimes, landlords require income verification from prospective tenants to better understand tenants’ financial circumstances and ability to make monthly rent payments. If you require such information from tenants, you should carefully review the new statewide “Source of Income” law (RCW 59.18.255) that becomes effective September 30, 2018. This new regulation includes guidelines and prohibitions for landlords when a prospective tenants’ source and amount of income is requested.

Are you paying too much in property taxes?

With the increase in housing prices in the Seattle area, homeowners are finding that their annual property tax bill is increasing by a much larger percentage than in the past.  For example, property taxes on a median-valued home in King County has increased 42.6% in the last four years! This is a huge increase, no matter your financial situation. You might be wondering what you can do to contest your property tax assessment? Indeed, you do have options.