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Tacoma

Washington

Short Term Rental FAQs for Tacoma, Washington.

How restricted are short term rentals in Tacoma?

Light Restrictions

Does Tacoma,Washington have any regulations for short term rentals?

Owners can not put more than two units up for rent on one site.

Does Airbnb automatically remit taxes for short term rentals in Tacoma?

Currently, Airbnb is collecting and remitting taxes on behalf of the host.

What are the city taxes for Tacoma

Washington State FAQs

Is Washington a judicial or non-judicial state?

Non-Judicial

In a non-judicial foreclosure state, the lender does not need to go through the court system in order to foreclose on a property. This process can be quicker and less expensive for the lender compared to a judicial foreclosure.

As a real estate investor, it is important to understand the differences between judicial and non-judicial states because it can affect the amount of time and money it takes to foreclose on a property. It can also impact the availability of properties that are being foreclosed on and the process of purchasing those properties.

What is the process of closing on a property in Washington?

Title companies, independent escrow companies, lenders, and attorneys may handle escrows. An attorney must prepare real estate documents, but there is a limited practice rule which lets licensed non-attorneys prepare most of the commonly used real estate documents. Conveyance is by warranty deed. Both deeds of trust with private power of sale and mortgages are used as security instruments. Mortgages require judicial foreclosure. Deeds of trust require that a notice of default be sent first and 30 days later, a notice of sale. The notice of sale must be recorded, posted, and mailed at least 90 days before the sale, and the sale cannot take place any earlier than 190 days after the actual default. Sellers generally pay the title insurance premiums and the revenue tax; buyers and sellers split everything else. Property taxes are payable April 30th and October 31st. Washington is a community-property state.

Property Taxes in Washington?

Payable ApriI 30th and October 31st

In Washington, does a property management company require a real estate broker's license?

YES. Property management is expressly considered a real estate brokerage activity under existing Washington real estate licensing laws. If a property manager is going to perform property management services (including marketing, leasing, renting; the physical, administrative, or financial maintenance of real property; or the supervision of such actions) for compensation, he or she will need a broker's license. A Washington broker must be working under a managing broker to engage in such activities.

Are there any exceptions to the requirement that a property manager have a broker's license in Washington?

YES. For example, any person employed by a managing broker if the person is limited in property management to any of the following activities: - Delivering a lease application, a lease, or any amendment thereof to any person; - Receiving a lease application, lease, or amendment thereof, a security deposit, rental payment, or any related payment for delivery to and made payable to the real estate firm or owner; - Showing a rental unit to any person, or executing leases or rental agreements, and the employee or retainee is acting under the direct instruction of the owner or designated or managing broker - Providing information about a rental unit, a lease, an application for lease, or a security deposit and rental amounts to any prospective tenant; or - Assisting in the performance of property management functions by carrying out administrative, clerical, financial, or maintenance tasks. For more information about these and other Washington property management requirements and exceptions, please contact the Washington Real Estate Commission. Before hiring a property manager to manage your Washington rental property, you should always check that he or she is licensed appropriately. You can check the license status of Washington property managers using the Washington Business and Professional License Search Tool.

Do you need a broker's license to manage community associations in Washington?

There is no requirement that a community association manager in Washington hold a real estate broker's license. Common interest community managers are specifically exempt from licensure as a real estate broker as of June 7, 2012, unless they promote the purchase, exchange, optioning, leasing, renting of a specific real property interest.

Real Estate Broker Requirements

Washington real estate broker licensing requirements include: - Age: must be at least 18 years old - High School: must have a high school diploma or equivalent - Education: must furnish proof of successful completion of 90 hours of instruction in real estate, specified by the Director of the Real Estate Commission; courses must be completed within 2 years of applying for the broker's exam - Exam: must pass the broker's license exam

Real Estate Salesperson Requirements

How do property ownership transfers work in ?

Warranty

Sustainability Resources

The Real Estate industry is one of the most environmentally damaging industries in the world accounting for:
30%
of total carbon dioxide
40%
of all energy
40%
of all raw materials
Our goal is to give you the resources you need to take sustainable action in improving, building, retrofitting and revamping your home. The impacts are real, the benefits significant, and the need critical. Join us in bringing sustainability home and creating a brighter future for all, starting with you.

Save money and do the world a favor!
Here's a list of Sustainability Initiatives in the area:

WaterSense Webinars

WaterSense, a subset of the US EPA, puts on sustainability webinars that have different focuses.

Volunteer with 4Ocean

4Ocean offers volunteer opportunities for those looking to join one of their ocean clean-up events/groups.

Paint Drop-Off Locations - PaintCare Inc.

PaintCare makes it easy to recycle leftover, unwanted paint. PaintCare operatespaint stewardship programs on behalf of paint manufacturers in states that have passed paint stewardship laws.