leasing our apt in the district

[Anonymous]

A few questions:

1) Can I just go down to DCRA and get everything done in a day (except the inspection) or was it a more cumbersome process?

2) If my condo building is mostly rentals, do they ever skip the inspection?

3) If the inspection needs to happen within 45 days, and I'd like to find a tenant to start her or his lease in 30 days, is this too risky, or can I just have the slight possibility of an overlap.

4) Given the tenant-friendly laws in DC, do you recommend any additional lease provisions to protect myself?

5) Is there a standard DC lease? I have found this one: http://washpropmanagement.com/wp-content/uploads/2011/08/blank-GCAAR-lease-2011.pdf

Thanks. I know a lot of folks on here are negative about becoming landlords in DC, but our condo is appreciating well and we'll clear a few hundred a month which seems worth it. I appreciate any warnings though. It's a one bedroom near the World Bank/IMF.

[Anonymous]

1. Yes, but make sure you research what documents you need before you go.
2. Not sure - we have a row house.
3. We had an overlap and it was not an issue
4. Do a credit check, check references and a 60 day notice.
5. We have been using the CGAAR for 4 years and seems to be ok.

[Anonymous]

Anonymous wrote:4. Do a credit check, check references and a 60 day notice.

This is crucial. Also price the place reasonably so you can be choosy about who you rent to. It's hard to get rid of a tenant in DC. Pick one wisely.

[Anonymous]

They will not skip the inspection but it is not a big deal so long as your condo is liveable, and DC's standard is likely low compared to yours.

[Anonymous]

Your building may already have a certificate of occupancy and I believe you can use that.

[Anonymous]

Thats crazy , someone has to inspect your home. What a waste of money and time.

[Anonymous]

Thanks everyone! What does this mean:

a 60 day notice

What are the signs of a good tenant? The apt is very small but very, very convenient and high security.

[Anonymous]

60 day notice is that they need to give you 60 days if they are going to move.

We went with gut instinct on who would move in. If they seemed nice, we chose them. We also checked two to three references per person. (We have rented to couples!).

[Anonymous]

OP, you really need to do some reading on this topic before you embark on this if you don't know this basic stuff. I'm all for investment properties, am kicking myself for not being able to keep our first house when we moved up, and plan to buy a home to rent out next year, so I am generally in favor of this. But you are startingly ignorant of the basics.

[Anonymous]

Anonymous wrote:Thanks everyone! What does this mean:

a 60 day notice

What are the signs of a good tenant? The apt is very small but very, very convenient and high security.

I'm not sure what the PP meant by 60 day notice -- maybe that the lease should include a clause that after it ends and turns into a month to month lease (that automatically happens in the District) the tenant must give 60 days notice (it's usually 30 days) if they intend to leave?

For signs of a good tenant -- gut instinct, yes, but also:
- good references from past landlords
- long, stable work history (a long time at one, reliable job would be great)
- record of staying a long time at previous rentals (shows they are sort of a nester type)

I also consider it a plus if the tenant tells me they know how to take care of a place because they own/have owned a house.

Also, advertise your rental informally (facebook, neighborhood listserves, fliers in your building/neighborhood). You might get a tenant who is a friend of a friend, or neighbor -- someone you know who vouches for that person. Not to say that you should exclusively advertise informally, but don't neglect it.

[Anonymous]

This license requires several different offices. First you need a "clean hands" report from the tax office (across the sTreet from dcra). Then pay money at dcra. Then I had to drive to DHCD on MLK blvd to get a letter signed saying I wasn't subject to rent control. Then back to DCRA. Inspector comes a week later. License in the mail a week after that. It's a total money grab from city.
DC has the most tenet friendly laws in country. Non payment of rent will still require a court order to evict. Luckily it's a tight rental market so you call the shots. Ask for an application fee from everyone. Don't buy into any son stories. You need to be ruthless in selecting a tenet as you may be stuck for Years. Also DC laws trump anything in your condo docs regarding rental restrictions so you really can't kick a tenet out you unit unless you either plan to sell it (and they get first right of refusal) or you plan to move back in.

[Anonymous]

PP here. DCRA has a standard lease You can use. I added that my unit was non smoking and tenets were responsible for whatever they broke.

[Anonymous]

Thanks folks. I've been a landlord in other states, just trying to sort out DC. I have all the paperwork done, but wasn't clear if I'd need to go to DCRA and DHCD in person, looks like I will. I've done most of this before for my business LLC, but that was all at DCRA and took several trips to get the CofO--but that shouldn't apply here.

Part of my question about good tenants, is it seems like some of the normal qualities (long term renter, etc) might not apply as much here if the issue is getting folk out, not in. For instance in a past rental, I loved renting to post-docs. They were in and out in a year and were never home.

[Anonymous]

Anonymous wrote: Ask for an application fee from everyone.

I would advise against this. You could discourage a good tenant. As a renter, I always look askance at small landlords who demand an application fee. It is standard for big apartment buildings, but it seems a little . . . well, scammy from a small time landlord. I mean, what if they have 50 applications? At $20 each, they're making $1000 off the prospective tenants, and they aren't going to actually read all those applications. I could see asking a tenant you were seriously considering to pay $20 for a credit check (or provide a copy of their credit report), but to ask a fee just to submit an application seems lame. I'm a landlord and a tenant (rent a place in DC, own a house I rent elsewhere) and I have never asked for an application fee nor paid one.

[Anonymous]

Anonymous wrote:

Anonymous wrote: Ask for an application fee from everyone.

I would advise against this. You could discourage a good tenant. As a renter, I always look askance at small landlords who demand an application fee. It is standard for big apartment buildings, but it seems a little . . . well, scammy from a small time landlord. I mean, what if they have 50 applications? At $20 each, they're making $1000 off the prospective tenants, and they aren't going to actually read all those applications. I could see asking a tenant you were seriously considering to pay $20 for a credit check (or provide a copy of their credit report), but to ask a fee just to submit an application seems lame. I'm a landlord and a tenant (rent a place in DC, own a house I rent elsewhere) and I have never asked for an application fee nor paid one.

Credit checks typically cost around $15-20. Do you suggest that a small landlord should eat that cost?