To the SFH landlord "investor" in AU Park

[Anonymous]

You suck for taking a beautiful AUP home, ripping out all the landscaping, blandly renovating, and renting it out for eternity.

https://www.zillow.com/homedetails/4524-Verplanck-Pl-NW-Washington-DC-20016/438952_zpid/

Let someone who wants to build a family there buy it... or simply someone who will love it like a home.

ps - you also suck at investing.

[Anonymous]

People who rent also "build families." This is a weird post. I mean, it's probably rented out to international families in DC for a posting who want IB for good DC publics. I doubt the owner is renting out to a frat or other undesirable neighbors.

[Anonymous]

Anonymous wrote:People who rent also "build families." This is a weird post. I mean, it's probably rented out to international families in DC for a posting who want IB for good DC publics. I doubt the owner is renting out to a frat or other undesirable neighbors.

I think you're missing the point here. They took a beautiful home, stripped it of all the character they could (to limit their maintenance costs on their rental), and are preventing anyone from making it their own.

[Anonymous]

Who cares if someone can "make it their own," though? Someone can rent it and live there. It's unfortunate that they stripped out original features, but as someone who lives in the neighborhood, I don't think we should be complaining that renters are living in homes rather than owners. They're neighbors regardless.

[Anonymous]

Who cares about the interior of a boring, kind of ugly colonial on some soulless street in DC?

As for their investing prowess, they bought it for $1.2 in 2021, so I would call that an investing win.

Look, I hate real estate "investors" also, but they're playing the game that our local and federal governments allow. We could tax investment properties into oblivion but instead we give them favorable tax treatment. Why don't tax investment properties at triple or quadruple houses that are occupied by the owner? Why do we allow tons of federal income tax deductions for them?

[Anonymous]

lol this is the United States of America. No one cares about your aesthetic. This is classic NWDC entitlement.

[Anonymous]

If you want to slow down this sort of thing, advocate for laws that dramatically increase taxes on rentals to encourage owner-occupants. Just remember that landlords are much better organized.

[Anonymous]

Anonymous wrote:If you want to slow down this sort of thing, advocate for laws that dramatically increase taxes on rentals to encourage owner-occupants. Just remember that landlords are much better organized.

Why do we want to make renting any more expensive than it is? Crack down on slum lords, of course, but what's wrong with a well maintained rental?

[Anonymous]

OP, why do you hate property rights? Let people do what they want on their land.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you want to slow down this sort of thing, advocate for laws that dramatically increase taxes on rentals to encourage owner-occupants. Just remember that landlords are much better organized.

Why do we want to make renting any more expensive than it is? Crack down on slum lords, of course, but what's wrong with a well maintained rental?

By that theory, we should give landlords even more tax breaks so that their costs come down further. While we're at it, maybe we should also further incentivize foreign investment in U.S. real estate.

The problem with "a well maintained rental" (and with foreign investment in U.S. real estate) is that it reduces the supply of houses for people to purchase. Hedge funds have bought a crazy number of houses in the past few years to turn them into rentals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you want to slow down this sort of thing, advocate for laws that dramatically increase taxes on rentals to encourage owner-occupants. Just remember that landlords are much better organized.

Why do we want to make renting any more expensive than it is? Crack down on slum lords, of course, but what's wrong with a well maintained rental?

I am sure OP is an ardent supporter of rentals in *other* neighborhoods - people need places to live, after all. But in her neighborhood, it's just terrible.

Also, OP, what did this place look like before the renovations? I have a hard time believing it was in pristine condition.

As an aside, for anyone who grew up in a small corner of Westchester County, the notion that "Verplanck" should be some sort of oasis is borderline hilarious.

[Anonymous]

Get a life.

[Anonymous]

Anonymous wrote:lol this is the United States of America. No one cares about your aesthetic. This is classic NWDC entitlement.

X1000. The simple fact that op presumes families can’t ’be built’ in a rented house is beyond entitled. I’m now hoping for the frat house to move in!

[Anonymous]

Maybe they should have said they are tired of hedge funds and investors buying up property. In my neighborhood many families have been outbid by investors as they can offer cash. They either rent them out or do an ugly/ cheap flip. One home a few streets away is rented out and is in not great condition. I know the family renting and they are great but they not yet landlord are looking into power washing because the outside is so dirty! So there are not great landlords out there.

I do wish that hedge funds and multiple property investors were taxed more or had some kind of stamp duty like how they have in the Uk upon purchase of the property but only for investors. People also need to remember it’s a gamble to rent in DC for a landlord, people can stay and not pay and not get evicted forever either!

[Anonymous]

Some sucker will pay something like that to rent it. They could have at least cleaned up the basement and the yard for that. Pictures aren’t good enough to tell if this was a quality rehab or just gingerbreading.