“my building is clearly trying to hedge their bets on rent increases so they are NOT offering me a lease renewal, but a month-to-month at current rate”

“Dear PoPville,

Thought this email from my building (Capitol View on 14th) might be of interest to readers. I know rents in DC are fluctuating a lot and there is a lot of anxiety and angst among my friends who got covid deals but are worried about renewing. Here, my building is clearly trying to hedge their bets on rent increases so they are NOT offering me a lease renewal, but a month-to-month at current rate. I’m sure it’s not illegal, just seems shady.

———- Forwarded message ———

Good day!

Your lease is set to expire in the coming months and we hope you have been happy calling Capitol View your home.

UDR is committed to providing a high quality living experience while working to consistently improve our buildings.

That said, market rent levels have rebounded in the DC Metro area and as a result we will not be sending you an offer for a renewal at this time. Your lease will convert to a month-to-month lease at your current monthly rent.

We will be monitoring the regulatory environment and making a decision on extending a renewal option in early 2022.

Should a renewal offer be sent we will provide no less than a 30 day notice of the renewal terms. We believe this will give you an opportunity to make a decision about your continued residency at our building while offering the flexibility of moving should that be the best decision for your household.

We appreciate you as a resident of our building.

Best,
Management”