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Real Estate
Reply to "Rental agreements in DC - bigger rent increase if month-to-month"
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[quote=Anonymous]We rent out the basement apartment in our DC rowhouse and have this provision in our lease. We have this because we rent to grad students and we want the lease to turnover every year on August 1. We prefer the stability of an annual lease. It also turnsovers at a time when lots of people are looking for housing. This minimizes the amount of time the apartment sits empty. Even before COVID, it's impossible to rent out a basement apartment in the timespan from Thanksgiving to February 1. Especially in our neighborhood where the renters are predominantly students. If you want the flexibility of month-to-month you'll compensate me for the privilege. BTW - our basement apartment is priced much cheaper than nearby apartments. We are also a 5 minute walk to campus. It's a nicer and more private alternative than a sloppy group house. [/quote]
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