In recent news, owners at Elektra condominiums are getting upset over VRUs (Vacational Rental Units) in their building which they believe violate the city's zoning law and have enlisted the city help. Even though VRUs are mentioned in the Elektra ownership agreement, the Department of Planning and Development's (DPD) position is that the city codes override anything in the owners' contract. Now, VRU owners are appealing the DPD's decision. A decision will be made by DPD in a few months.
Personally, I think it's reasonable for owners to rent their property for longer periods like 6 months to a year. However, if the units become a high turn-around accommodation for non-residents, it changes the dynamic of the condo. I can totally understand Elektra owners' concerns. I would prefer to know who my neighbors are instead of meeting random people in the elevator all the time.
More about Elektra Condominiums:
Elektra is one of the older high-rise condominiums in downtown Seattle (1400 Hubbell Place). Built in the late 1950's, the building comprises 200 units with studio, one bedroom and two bedroom floor plans. Studios start at a little over 300 square feet, one bedrooms range from 400's-900 square feet and two bedrooms are from 660 to as high as 1,400 square feet for the penthouse units. One bedroom's start in the low $200,000's and two bedroom's start in the low $300,000's. Due to its accessible price point and location, this building is one of the top choices for first-time home buyers and investors. However, the unattractive part for this building is the the exterior and interior common areas. They look dated and apartment like.
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