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Dear PoP – How Much is Parking Worth and do I need a Lease for a spot?

by Prince Of Petworth March 19, 2010 at 2:30 pm 7 Comments

New style of Emergency No Parking sign in DC
Photo by PoPville flickr user jsmjr

“Dear PoP,

What is the value of a covered parking space between Logan and Dupont Circle? I’ve heard anywhere from 25-50k. Also, when determining price per sq ft for condos, is parking factored in (i.e. 650 sq. ft. condo at 400k = 615/sq ft, but 650 sq ft condo at 400k – 40k for parking = $550/ sq ft.)?

Hope you (or the loyal readers) can help!”

and

“Now that we’ve dealt with basement rental apts. can we find out about renting a parking space? I’m about to rent out a space behind my house – should I have some kind of lease or other agreement? Can we both just sign a general “Nothing that may ever happen to your car for any reason will ever be my fault or liability” kind of thing?”

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