Rent going up in DC area

[Anonymous]

Anonymous wrote:Is it small landlords or also the big ones that are raising rent?

https://dcist.com/story/23/11/01/dc-attorney-general-lawsuit-landlords-realpage/

[Anonymous]

Insurance expenses have shot up, which doesn’t help.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn’t common sense suggest that when there is inflation rent will increase?

Yes. Renter nonpayment is up in the DMV and that falls on the backs of landlords and paying tenants.

If you don’t like it, pressure your non paying tenant neighbors to pay their bills.

Everything about inflation is logical. Everything goes up roughly proportionately. But it does all happen at exactly the same time so people falsely convince themselves during the period of time that their income rises before expenses that such is their net worth. Then when everything catches up they complain about rising costs.

In reality inflation is a net zero. Except to those who own real estate with fixed mortgages. To them it is a net gain but it isn’t a net loss to those who rent.

[Anonymous]

What's interesting is the vacancy rates are going up too. So they can have their cake and eat it too.

[Anonymous]

OP did you read or see this?

"DC AG sues 14 of the largest landlords in DC for illegally raising rents"

https://www.fox5dc.com/news/ag-achwalb-sues-14-largest-residential-landlords-rice-fixing-scheme-northwest-northeast

[Anonymous]

On the owner side of the equation, my home value in increased 8% year over year. So that tracks rent inflation fairly closely

[Anonymous]

Isn't rent always going to go up? Does it ever go down, and would you want to live in a place on a downward swing?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn’t common sense suggest that when there is inflation rent will increase?

Yes. Renter nonpayment is up in the DMV and that falls on the backs of landlords and paying tenants.

If you don’t like it, pressure your non paying tenant neighbors to pay their bills.

How can I pressure them? I don't even know them.
I had very hard time getting a one-bedroom apartment a year ago. I'm a great tenant.
Where is this disconnect? I can't get the realtors to e-mail me back.

[Anonymous]

I live in a rent controlled studio in Columbia Heights. My rent went up 3.8% in March.

[Anonymous]

This is wild. Gelmarc Towers in Adams Morgan is running a six weeks free special but also has 14 available units, 1BR and below. Makes zero sense.

https://www.gelmarctowersapartments.com/floor-plans/

[Anonymous]

Anonymous wrote:
Yes. Renter nonpayment is up in the DMV and that falls on the backs of landlords and paying tenants.

If you don’t like it, pressure your non paying tenant neighbors to pay their bills.

This is nonsense

[Anonymous]

Anonymous wrote:What's interesting is the vacancy rates are going up too. So they can have their cake and eat it too.

Increased vacancy rates hurt landlords. It violates covenants landlord have with their lenders. A landlord within 100 units at $1k per month is in default with its lender if it rents only 1 unit for $100,000 per month.