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Real Estate
Reply to "New Landlord-to-be of DC Condo -Please Help a Novice Out"
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[quote=Anonymous]read the DC Tenant's Survival guide put out by georgetown law school. Just because you hire a property mgr doesn't mean they know the law (though they should!) and it's good to educate yourself. Make sure you file for an exemption from rent control if needed. And make sure you stop claiming the homestead exemption and that you let your insurance and mortgage companies know you're renting the place out. Some homeowner's insurance policies can be voided if you rent without telling them, and some mortgages can be called for the same reason. It might cost you more in the short term, but dishonesty can lead to some bad outcomes.[/quote]
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