photo by Diane Krauthamer
“Dear PoPville,
I’m looking to rent out his condo that I own. I spoke to a realtor and the process sounded a little more involved than I initially imagined, including getting a license and notifying my mortgage lender that I would be renting the property (potentially giving them the ability to refinance and raise my rate?). My mortgage contract says that the property has to be my primary residence for at least 1 year, which it has been. Otherwise it is silent on renting.
I was hoping your readers could answer: what tips do you have for someone looking to rent their condo in DC? Should I use a property management company or try to do it myself? What property management companies would you recommend, and what “cut” of the rent is typical for a property management company to take in DC? How do you find good tenants these days (this is my biggest fear!!)? Any advice/recommendations from people who have been down this road would be so so appreciated!”