What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
UrbanTurf Reader Asks: $330 a Month in Rent in DC?
✉️ Want to forward this article? Click here.
In this installment of UrbanTurf Reader Asks, a reader inquires as to whether or not the type of legendary rent deals that are famous in New York City exist in DC.
This past weekend, I was reading The New York Times real estate section and came across a story about a man who rents a 1,200 square-foot, four-bedroom Greenwich Village apartment for just $331 a month. The apartment is one of 16,000 rent-controlled apartments in New York, and is located in an area where two-bedroom apartments fetch $4,500 a month. I have lived in DC for several years, renting first and then buying, and have never heard of deals this good. Does anything like the New York City apartment deal exists in DC, outside of subsidized or affordable housing? As jealous as I would be, I would love to hear of any stories about people who pay obscenely low rent in the city.
Rent control in DC was established as part of the Rental Housing Act of 1985. Essentially, it restricts the frequency and amount by which owners of housing units covered by rent control can adjust the monthly rents of their tenants. It also requires landlords to give tenants adequate notification of rent increases and provides for an appeals process for tenants who believe that rents have been raised improperly. For housing subject to rent control, adjustments in rent amounts are only permitted once every 12 months and tenants must receive a minimum of 30 days notification of proposed increases.
A ward-by-ward look at DC properties subject to rent control.
Post your responses in the comments section. If you would like to submit a question for UrbanTurf Reader Asks, send an email to editor2011@urbanturf.com.
See other articles related to: rent control, urbanturf reader asks
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/urbanturf_reader_asks_330_a_month_in_rent_in_dc/4981.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro