How Much Should I Charge for my Rental? Vol. 17


“Dear PoPville,

I will be out of the country for approximately 4-6 months and I am strongly thinking about renting out my home in my absence. The issue is, I am unsure how to price it. The price is going to include a fully furnished home, washerdrier/cable/wifi/utilities ,and weekly maid service. The home is fully automated and can be controlled from a Smartphone. Only the master bedroom suite(a full floor) and a den will be part of the rental including all other areas of the home. Only one room will be locked and used as storage. In short it’s a 1 bed + den 1.5 bath 1600sqft row house with a deck located in Ledroit park. Your feedback is appreciated.”

28 Comment

  • Whatever you decide, let us know. I’m looking for a short term, furnished rental and this looks perfect.

  • going rate for a 1 Br/ 1 ba with nice finishes in LDP is 1850. yours is almost 2 br with the second den and half bath, so add 300. include utilities, nicely furnished, adds another 300. round to an even 2500 and you should have your pick of renters.

    • Sounds too low. The maid service is worth something, and this is (kind of) a whole house – not just an apartment. I’d say $2750; more if the den is large enough to be used as a bedroom.

  • This place looks ridiculous. It would probably rent for like $3k? More pics would allow for a better assessment.

  • I would say 2800, but I wish it was 2500- because I want to rent it!

  • advice, if you can do it–rent a storage unit and movers to bring your stuff in and out. It’s safer, since you don’t have to worry about a renter damaging your stuff or needing access to the room (what if there’s a leak or fire? you’d want someone to be able to get in) and you could easily make it back by renting it as a 2br.

    • While I generally agree with sbc and liability issues, a 4-6 month renter probably won’t want to take the time to buy or move in furniture. At the price point this apartment will likely go for (more than I could afford, sadly), I don’t think you would have a problem asking for a security deposit for your things. I could see a place like this going for $2500 or more as most other people have said.

      • I should have been clearer. I just meant hire a mover to take out whatever you would have stored in the second bedroom and rent it as a furnished 2br.

  • A friend of mine is currently leasing a furnished, one bedroom English basement around 10th and S St NW for $2500. It is incredibly small, dark, and the furniture is all clearly old hand-me-downs that they would never actually use in their house. The kitchen is laughable, and has zero counterspace. But it was a furnished rental available for a four month lease, so he jumped on it. She currently has the next set of renters already lined-up for after his lease ends.

    Someone in my converted rowhouse condo building around 18th and T leases a one bedroom apartment with fantastic furnishings for $3200. People on short term consultancies at the World Bank or IMF, or visiting professors have been her rental base for the past two years.

    For that house I would say you could go as high as $3500 a month with no problems. Scour Craig’s List (the scams are pretty obvious after spending some time on there) or to see what your competition is.

  • I was thinking how on earth do you keep those floors clean. Then duh. Maid service of course.

  • “Only the master bedroom suite(a full floor) and a den will be part of the rental including all other areas of the home. Only one room will be locked and used as storage. In short it’s a 1 bed + den 1.5 bath 1600sqft row house with a deck located in Ledroit park.”
    The two “only”s meant that I had to read this twice to figure out what was going on. The OP might want to rephrase to something like: “The place is a 1600-square-foot rowhouse, with 2 bedrooms, a den, and 1.5 bathrooms. However, one bedroom will be used for storage and locked, so in essence this rental is a 1500-square-foot [or whatever the number would be] rowhouse with 1 bedroom, a den, and 1.5 bathrooms.”
    Is the floor with the master bedroom suite the one with the lofted area over the living room? Is the locked storage room on the main floor, or in the basement?

    • I would just not mention the locked room at all – don’t confuse people. Pitch it as a 1 bedroom + den.

      • That would work too — just subtract the square footage of the locked room from the total square footage.

    • The master bedroom is on the 2nd floor (with the loft) it is the entire 2nd floor. large walk through closet and large ensuite bath .

      The locked room (storage) is in the basement along with the den, which is a 350sqft room.

  • i can housesit for you, if you want.

  • Around $2500 sounds right. You may want to hire a management company.

  • I think $3000-3500 is about right. Many of the 1 bdrm +den apartments in the larger new apartment buildings go for at least that and this is much bigger than those on average.

  • Thanks for your feedback!

  • Two comments.

    1. Ledroit is probably still a little less desirable for short term renters than the more established areas of NW, so I’d price accordingly.

    2. You’ll need someone to manage the place for you. For that long of a period of time you are going to run into some problems, and can’t manage them from abroad.

  • I’d list it for $2,100 and be thrilled if I found decent renters. The comparable two bedroom rowhomes on my block in Mount Vernon Square rent out for $2,500. $2,500+ for Ledroit Park is crazy talk.

  • clevelanddave

    Let us know how it turns out. Almost no one mentioned location location location- you’re in Ledroit Park not 18th and P. Ledroit Park is in almost all respects less desirable. Second, you need to get it down: is it four or six months starting when? Six months starting January 1 is a lot more desirable than four months April to July. Third, are you willing to rent it out to a group of people, say three individuals living together, or do you want a nice quiet older individual who theoretically isn’t going to have parties, etc. Three younger people maximizes your rents but you are more likely to find yourself with a messed up place. I personally for four months without moving my stuff as some have suggested would forget about it unless it was a trusted friend or relative. BTW, will your insurance/bank/association allow it? Some won’t.

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