Price My Rental!

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Topic: Price My Rental!

Real Estate August 14, 2015 at 4:07 pm

Price My Rental!

My partner and I are looking to rent our home’s basement apartment in Columbia Heights and we want to know what a fair asking price would be. We’re in the process of obtaining a legal CofO, but do not anticipate any difficulties (everything is to code). More about it:

newly redone (fresh paint, tiles, windows, new appliances)
has washer/dryer
has basic kitchen (no super-fancy appliances to account for)
decent natural light on both the front and rear
spans the full length and width of the house, so it’s pretty enormous
about one block to the metro
not much outdoor space

How much would you be willing to pay for this setup?


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I’m currently paying $2,200 in the area for a basement 2br that sounds like a similar size and essentially the same same features/characteristics (nice kitchen, w/d, dishwasher, decent light for a basement, etc.).

Since your unit is a 1br, I’d expect somewhere south of $2,000, probably lowering it the farther you get from the metro station and stores. Without pictures it’s tough to say, but you might be able to get up to $2,000. For comparison, here’s an apartment building in the area with 1brs:

If you’re in the $1,700-$1,900 range, that’s probably reasonable.

Thanks, newenglanderindc! All very useful!

I rent out a similar sounding apt. on Irving Between 13th & 14th for $1875.00 which includes cable & wireless, allows pets and offer $100 parking. Every time I need new tenants I have 30+ people show up for open house and all want it. I could probably get a little more, but I’ve found happy tenants are the best tenants.

I’m sure you’ve already thought through it carefully, but just a plug for making sure you understand what it means to be a landlord in DC. You can’t kick out an awful tenant, basically ever, except in very limited circumstances. I sublet a room in my apartment and ended up in a complete nightmare situation. Luckily (?) the sublessee was completely insane and kept harassing me to the point that I was able to get a protective order. Otherwise, I’m not sure how I would have gotten her out of my house. Anytime I hear someone thinking of becoming a landlord here, I want to make sure they’ve done their due diligence in understanding what it entails. 99% of times it’s no problem, and there are definitely things you can do to protect yourself–getting multiple references, etc.

You can pitch for $2200 but $2000 is just fine.

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