Affordable housing and homeless top priorities of Seattle's new 2-year budget

SEATTLE- Seattle Mayor Ed Murray signed Seattle's new two-year, $5.8 Billion budget on Tuesday. It includes more police officers, no pronto bike share and millions to combat homelessness.

About $29 million is also earmarked for affordable housing, but Seattle is still feeling the pinch of rising rent costs.

On Tuesday, the city also took steps to limit how much landlords can charge new renters upfront. But, some landlords, who packed the city council chambers, believe the move will only result in higher rents.

"I really am offended by the city telling me I cannot protect my own investments," said Chuck Cady, a property owner and realtor.

Landlords argued against Councilmember Kshama Sawant's push to cap the amount of money new renters can be charged at move-in.

"What it is doing is chasing small landlords out of the business," said Brad Lefton who rents properties in South Seattle. "We don't need more of these regulations, this is backfiring on your intentions."

The city's plan is to curb move-in fees for renters, including capping the price of their security deposit. Some renters would even be able to pay their move-in fees in installments.

Though councilmembers heard an earful from landlords, they unanimously voted Sawant's legislation out of committee.

Susan Roth, who rents in Seattle's Crown Hill neighborhood said she has had a good job in a deli kitchen for 10 years, but can barely afford to keep living in the city.

"Raises are few and far between but rent increases can occur every year," said Roth. "The landlords know moving is prohibitively expensive, they don't have to be fair to current tenants."

Though there are plenty of rentals available and new projects under construction, for many landlords, the city's intervention will only result push costs higher.

"For a new tenant we'll definitely have to charge a higher rent because we will be taking on a lot of risk," said Beth Daranciang, who owns rental properties in North Seattle.

The city's new budget includes an additional $20 million going toward housing next year from an August levy. Several councilmembers also support $29 million going toward the creation of new homes.