My neighbors house is being rented for $7,500 a month which I think is crazy. He wants a two year lease and over two years that is $180,000 in rent.

I have a townhouse in stafford and rental demand is huge. I received 100+ inquiries and close to 40 applications and people overbid to get the place.

Anonymous wrote:I'm not seeing this myself. Instead, I'm seeing properties sit unrented with price reductions where the landlord got greedy.

I've also seen this. I'm currently in a rental. The townhouse across the courtyard is being rented at $150 less than mine. A year ago, my rental rate was the going rate in this area. Location is not far from Tyson's.

I'm not seeing this myself. Instead, I'm seeing properties sit unrented with price reductions where the landlord got greedy.

Anonymous wrote:greedy moguls getting greedier

You betcha baby. I smelled the blood in the water in March and have been jacking up all rents as leases end. If they don't want to pay, they don't stay. I can get more from someone else.

Here's to Adam Smith!

Anonymous wrote:I think its the time of year more than anything. Peak demand is always May-Aug.

Yes, people with school aged kids are looking now. But there are also additional factors like chaos in DC workplace that pushed some people to put their houses on the market in anticipation of future layoffs and RE prices going down. People wanting to cash out of their homes could have contributed to increased rental demand IMHO. Although comparison should be made to last year rental market before drawing any conclusions. RE taxes also went up, which definitely would result in LLs trying to recoup this by raising rents.

People are selling their homes hoping to cash out and worrying about housing crash in DC metro due to unstable employment situation. In reality they are still employed and have to keep living here, so they are looking to rent. I know people like this. thought they would get rifted, but they are still there, except their house is sold.

My friend had asked me if he should increase the rent this year. I told him he should do it to cover the increase in property tax.

I think its the time of year more than anything. Peak demand is always May-Aug.

We are renting out a house in FFx, near the WFC metro, and we charged 4500 for it. The tenants are staying so we aren’t increasing the rent but we would have done so if they had moved out.

Makes sense. With high rates, those people that might be interested in buying that house are unable to, but they can afford the rent payment. Families with kids prefer the space rather than hold out one extra year in an apartment

Good!

greedy moguls getting greedier

How about some links? Redfin and zillow both display rental history pricing.

we have suddenly seen a great demand for SFH rentals and may be people are holding off the purchases due to job market in DC area. SFHs in my neighborhood in Fairfax are going to $5000+/mo when they were in low $4K/mo last year. Has anyone seeing that?