What's can I rent my condo (S. Arlington) for?

[Anonymous]

I live in a condo in S. Arlington and am thinking of renting it out so that DH DC and I can move somewhere with more space.

It's a 2 bedroom in a garden-style historic (built 1940s) community right on Columbia Pike. The neighborhood is a good mix of working class and immigrants and young couples and couples with kids. We back right up to Columbia Forest.

The unit itself is about 850 square feet. The building itself has not been modernized, but our apartment was renovated before we bought it with hardwood floors and custom closets, built ins and pantries. Large living room area. No central AC, but we bought standalone AC units in the living room and both bedrooms. We also ripped out the old linoleum in the bathroom and replaced it with new stuff, and laid new laminate tile in the kitchen. We have a portable washer and a dryer in the unit. We've recently painted (the walls are a light cream, the bathroom and kitchen are neutral colors). We have old windows, but also high ceilings. We're closer to Bailey's Crossroads than Pentagon City, but the 16 bus and the ART are literally right in front of our door. We're close to the new BRAC building and a few awesome restaurants, some parks and the Four Mile Run trail.

We currently pay $1500 for mortgage and condo fee (which includes all utilities and parking in a private lot). Lately, we have been thinking (hoping) we could get a little more than that. One bedrooms in nearby "luxury" communities are going for about what we pay now and two bedrooms in the same are upwards of $1700 to $1800. A ground floor unit in our building just rented for $1600, but it has central AC and a private entry. On the other hand, it also just flooded pretty badly in the rain and I heard that people don't like to rent on the ground floor of places, so...

What do you think? Does this sound like a place people might want to rent? What do you think we could get for it? Any realtors or real estate aficionados care to hazard a guess?

[Anonymous]

Also any suggestions for things we could do to make the place more attractive to renters are appreciated!

[Anonymous]

$1400-$1500 for that area.

[Anonymous]

Try pricing it a little high on craigslist and see what kind of response you get. I am a DC landlord, and basically I price at the top of market and drop it down until I get a good tenant. It only takes one--good luck!

[Anonymous]

I am actually seeking a 2 bedroom in that area and would not mind paying 1600-1650 if everything is included.

[Anonymous]

all utilities? You can certainly go higher. There's a rental shortage in many places. Like someone said, price it high on craigslist and see what response you get. You can always negotiate downward. I'd start at $1700 or 1750 and see what it gets you. Upper floors always rent for more than bottom floors, and you said the bottom floor rented for 1600, so why not.

[Anonymous]

16:11 here. I would caution strongly against including utilities. Usually the landlord gets screwed. I actually had a tenant who would keep the heat at 80 and crack the window in the winter--nothing I could do about it either.