DMV: Leases, Cost of living, and Commutes
I recently met a few young people excited to relocate to the DMV area. Their joy and excitement went out the door once I explained the requirements to lease a property and the minimum income needed. They were disheartened. The father of one of them was very upset and even thought I was trying to trick their daughter into renting a place well outside of her means and not worth the dirt the property stood on. It took some explaining and him talking to a few other Realtors to realize I was not lying. Living in the DMV area is a lot more expensive than you think.
Welcome to the DMV (DC, Maryland, and Virginia) area. I hope this article helps you make a smooth transition. The DMV region is a great place to visit and call home. Keep these three points in mind as you relocate, especially if your relocation is on a long-term basis.
Housing and leasing regulations
Each state has a set of rules that must be followed when real estate properties are been leased. More regulation is applied when a Realtor is part of the transaction. Realtors perform their duties under the guidance of federal, state, and local laws, as well as the Realtor Code of Ethics.
A regulation that applies to all parties is the FAIR HOUSING LAW: the state and federal protections. With a few exceptions, all parties must follow it. The exceptions play a role when the owner dwells on the property.
Each state has its own autonomy to set up additional regulations. Consumers need to be aware that one state cannot impose its regulation on another state; a landlord in one state cannot impose their views/options on a landlord in a different state.
In some states, once a homeowner owns more than four properties, it must accommodate tenants receiving county assistance; in other states, only two properties must be owned to be required to accommodate tenants with county assistance. The regulation to evict is also locally established.
As you relocate to the DMV area, investigate the regulation per state/ territory. In our area, where three major states/territories converge, the regulation from DC cannot be forced on VA or MD, and vice versa.
The lease forms employed in MD cannot be applied to VA or DC. In Maryland, even counties have distinct requirements; some require the landlord to register the property with the county, and some don’t. Should the landlord fail to register the property or with the lead protection agency, the landlord can be heavily penalized.
PET restrictions also exist in our area. Some counties have dog breed restrictions. Condos may have breed, weight, and number of pets allowed as part of their restrictions. Services Animals and ESA are not pets. The landlord can ask for verification of the service the animal performs.
It is the landlords who decide what pet deposi to charge and what pet rent to charge. The landlord als o decided if the pet deposit/pet rent is per pet.
CO$T of LIVING in the DMV
The cost of living in the DMV area is one of the highest in the nation; not as high as NY and CA, but we are high. Within DMV, we have many pockets of housing where starting income needs to be in the low $100’s to meet the basic income requirements. More often, the required income is much higher. Before you accept employment in the DMV area, do your due diligence. Investigate the cost of living, average rents, and what other requirements you may expect to meet. Many homeowners have a minimum income, credit score, and credit history criteria that must be met by the tenants. Few homeowners in VA accept co-signers; if they do, the rent may increase. In MD and DC, co-signers can be more accepted.
An annual income below $80k makes it practically impossible to find a property with more than two bedrooms in our area. Do your homework!
Rental application fees can easily add up, and they are not refundable. A few management companies allow you to transfer your application from one property to another if they manage the new property you select.
As Realtors, we have an obligation to verify the information provided as much as we can. When you apply, you will be asked to provide/ fill out your housing and employment history. To verify your credit and credit history, your social security number will be needed.
Once an application is rejected, it can leave a trail behind. Make sure you have all the necessary information or documentation before you apply.
The landlord has the final word regarding what is accepted, rejected, waived, or given an exemption.
The landlord decides if the repair deductible will be the tenant’s responsibility and what amount it will be.
It is the landlord who decides how long of a lease they are willing to accept. Most leases in our area are for a year long. I have a few landlords that require a 24-month lease always.
Commuting in the DMV…. Can easily become a nightmare
Location, location, location is critical in the DMV area. The closer you are to major points of interest or commuter routes, the more expensive housing can be and more congested. Depending on the event, you can easily spend 30 minutes just covering a few blocks. Our area does have mass transit, metro rails, HOV lanes, and bike routes that help us travel around the region, but they do not alleviate traffic and delays.
As a precaution, especially if you are not familiar with the area, consider carrying with you extra water, a few snacks, a blanket/ jacket (during winter months), and extra cash. Keep your phone charged as much as possible and be VERY PATIENT. For many of us who have lived in the DMV area for years, a 45-minute commute is ROUTINE; anything less than that is a special treat.
We have specific times for rush hours. Usually, 6:30 am to 8:30 am, and then again 3-7 pm. Weather, sports events, and car accidents can easily congest our routes. We are used to it and go with the flow. When we schedule appointments, we need to give ourselves not just 15 minutes of leeway but sometimes a whole hour!
We have many planned communities where residential housing has a balanced component of commercial services readily available. That is great, and many of us welcome it; we still have traffic to deal with when work or other events require travel.
When you relocate to the DMV area, I hope you experience wonderful events and make memories amidst the traffic chaos.
I keep running into families accepting employment in the DMV area only to find themselves sorely disappointed or shocked with the cost of living.