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GOVERNOR INSLEE SIGNS AFFORDABLE HOUSING LEGISLATION

Governor Jay Inslee signed Washington Realtor®-backed, condo reform Senate Bill 5334 into law on April 30, 2019.

 SB5334-Signing-Web2

FOR IMMEDIATE RELEASE
April 30, 2019

GOVERNOR INSLEE SIGNS AFFORDABLE HOUSING LEGISLATION

Olympia, Wash. – Governor Jay Inslee signed Washington Realtor®-backed Senate Bill 5334 into law on April 30, 2019. Senate Bill 5334 clarifies the statutory warranty provisions for new condominium and condominium conversion projects. The reforms create more objective standards for construction defect claims and incentivizes condominium development.  

“Condominium liability reform is a huge win for our communities and members. Condominiums are a critical element of homeownership supply, especially near job centers, and we are thrilled that the Legislature and the Governor are taking real steps to increase the supply of condos all over the state.”

-- J. Lennox Scott
CEO, John L. Scott Real Estate

The passage of this bill is the result of work done by the Washington Realtors® Condominium Work Group and passionate Realtor® members across the state. Washington Realtors®, as part of their Unlock the Door to Affordable Homeownership efforts, were able to help pass condominium liability reform that continues to protect the consumer but adds a fairer standard that should encourage developers to start building condominiums again.

For more information or interviews, please contact Nathan Gorton at Nathan.Gorton@warealtor.org or call (360) 943-3100. NewsRelease-SB5334

“REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics”

 

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