Reply to Should we sell our DC rental?

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[quote=Anonymous]Yeah that phrase "delayed renter maintenance" also stood out to me. It's of course delayed landlord maintenance.

It sounds like you are likely renting at below market rates likely because the house hasn't been in great condition either. You're also likely not getting the greatest tenants, either.

If you updated the property you could likely greatly increase the rent you've been bringing in, but it sounds like you don't have the funds to invest in that. So I agree with others saying it would be best to sell. But the biggest caveat here is whether you have tenants currently living in the property. DC makes it very difficult to evict them if they aren't willing to leave on their own. And selling a property with tenants in place would mean you're giving up a lot of the potential sales price. A savvy investor is going to see a lot of deferred maintenance as an opportunity to buy at a lower price.

Your best bet would be to put it on the market after tenants move out. If that isn't happening you could raise the rent, which might prompt them to move, but follow the letter of the law on how much you are able to raise the rent legally. If the tenants are staying the smartest move would be to wait them out while giving reasonable rent increases in the meantime. There's nothing like a lowball rental rate to make them want to stay forever, no matter the condition of the property.[/quote]

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