what's the rental market in Adams Morgan like now?

[Anonymous]

I'm a long-time landlord of a condo in Adams Morgan. My tenants will be moving out at the end of the summer. If you've rented an apartment recently in Adams Morgan/Columbia Heights area (either as a landlord or a tenant), can you comment on what the market is like? I've been doing this a while, but I'm not sure what to expect, esp. with regard to the cuts to the federal workforce.

[Anonymous]

Anonymous wrote:I'm a long-time landlord of a condo in Adams Morgan. My tenants will be moving out at the end of the summer. If you've rented an apartment recently in Adams Morgan/Columbia Heights area (either as a landlord or a tenant), can you comment on what the market is like? I've been doing this a while, but I'm not sure what to expect, esp. with regard to the cuts to the federal workforce.

Zillow is your friend, you can view what’s available for rent in your area and compare.

[Anonymous]

not good.

DOGE and the sliding economy are making things grim. lock in a 1 or 2 year lease now and hope it lasts...

[Anonymous]

Anonymous wrote:not good.

DOGE and the sliding economy are making things grim. lock in a 1 or 2 year lease now and hope it lasts...

This is BS. Sales are slowing, rental market is pretty solid in NW.

Source: manage rentals in CCDC, Shaw, Dupontc and Cleveland Park.

[Anonymous]

I actually see rentals moving now compared to May and June.
Lower the rent and you should be fine. My landlord raised my rent another $200 this year on 1-bedroom. I moved and was able to keep the $2200 I had. Moving cost me, but since it's in the same building, it's not too bad.
Lower the security deposit. Few people have $5k-$6k cash for SD and first month's rent.

[Anonymous]

Nearby landlord here (U Street/Logan/14 St corridor). We listed our 1 BR for a July 1 move in May. We too wondered what the deal was and decided against advice that we wouldn’t raise the rent that we had been charging the departing tenants for three years.

We were overwhelmed with highly qualified applicants on Day One. We had zero trouble. Zero. No different than it ever was. We clearly could have charged more rent. But honestly we don’t care.

Adams Morgan is a good spot. You’re gonna do fine.

[Anonymous]

Anonymous wrote:I actually see rentals moving now compared to May and June.
Lower the rent and you should be fine. My landlord raised my rent another $200 this year on 1-bedroom. I moved and was able to keep the $2200 I had. Moving cost me, but since it's in the same building, it's not too bad.
Lower the security deposit. Few people have $5k-$6k cash for SD and first month's rent.

I’m the poster who just had zero problem re-renting. Your landlord sounds like an idiot. Having said that, I disagree that there aren’t a lot of people who can come up with 5 or 6k for the security deposit and first month’s rent. Of course there are, and there are plenty. If your potential renter can’t do that, they are a risk to rent to, plain and simple.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I actually see rentals moving now compared to May and June.
Lower the rent and you should be fine. My landlord raised my rent another $200 this year on 1-bedroom. I moved and was able to keep the $2200 I had. Moving cost me, but since it's in the same building, it's not too bad.
Lower the security deposit. Few people have $5k-$6k cash for SD and first month's rent.

I’m the poster who just had zero problem re-renting. Your landlord sounds like an idiot. Having said that, I disagree that there aren’t a lot of people who can come up with 5 or 6k for the security deposit and first month’s rent. Of course there are, and there are plenty. If your potential renter can’t do that, they are a risk to rent to, plain and simple.

I am sure their LL was able to get that increased rent too and cares less that they moved.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I actually see rentals moving now compared to May and June.
Lower the rent and you should be fine. My landlord raised my rent another $200 this year on 1-bedroom. I moved and was able to keep the $2200 I had. Moving cost me, but since it's in the same building, it's not too bad.
Lower the security deposit. Few people have $5k-$6k cash for SD and first month's rent.

I’m the poster who just had zero problem re-renting. Your landlord sounds like an idiot. Having said that, I disagree that there aren’t a lot of people who can come up with 5 or 6k for the security deposit and first month’s rent. Of course there are, and there are plenty. If your potential renter can’t do that, they are a risk to rent to, plain and simple.

I am sure their LL was able to get that increased rent too and cares less that they moved.

Exactly. What a crock of baloney. Advising landlords to lower security deposits and accept poor and risky tenants in the current rental market in NW is juvenile.

[Anonymous]

Anonymous wrote:Nearby landlord here (U Street/Logan/14 St corridor). We listed our 1 BR for a July 1 move in May. We too wondered what the deal was and decided against advice that we wouldn’t raise the rent that we had been charging the departing tenants for three years.

We were overwhelmed with highly qualified applicants on Day One. We had zero trouble. Zero. No different than it ever was. We clearly could have charged more rent. But honestly we don’t care.

Adams Morgan is a good spot. You’re gonna do fine.

OP here. Good to know. Where are you listing your place? We usually list on CL and Zillow/Trulia. Just want to make sure I'm not missing something.