Recent D.C. Real Estate News
Here is what landlords, developers, and owners need to know:
It’s hot, like really hot. Like sign of the apocalypse, wrath of god, we are finally paying for our sins in a fiery humid eternity. I can’t imagine that anyone can generate the energy it takes to househunt or perform due diligence walkthroughs of un-airconditioned pre-buildout space. But, the Council has been busy with its legislative agenda much of which can impact your real estate business
Below is a summary of this month’s topics with links to more in depth information. Additionally, I’ve included a list of upcoming programs and events to help you stay on top of the changes
Posts & Analysis
D.C. Property Managers cannot be paid a sales commission. Many property management agreements contain a provision stating that if the property is sold during the term, the Manager is entitled to a sales commission. However, unless the PM is licensed as a real estate broker, or employs a broker, the provision is both illegal and unenforceable. For PMs find out how to stay out of hot water and for owners, learn how to avoid paying unearned sales commissions [here]
Emergency legislation addresses changes to eviction procedures. In May I wrote a post about the US Marshals Service implementing changes to the decades old ‘throw-their-stuff-in-the-street” eviction procedures. This month the Council addressed the issue with new emergency legislation, mandating that landlords store evicted tenant belongings for up to seven days. Get the details on the new Law [here]
News & Events
Public Hearing on 809 Kennedy Street Senior Housing, July 25, 2018, 6:00 PM. DHCD will hold a public hearing on a property sale that will create affordable senior housing in Brightwood.
DISB Coffee and Capital, July 17, 2018, 8:30 AM. This program DISB shares information about its programs to provide startup and operating capital to entrepreneurs, start-ups and small businesses
Rent control dialogue with DHCD, July 25 2018 at 12:00. DHCD staff will provide information about DC’s rent control law and common compliance issues
TOPA single family home exemption , July 25, 2018, 1:00, 441 4th Street, NW. In this program DHCD staff will provide an overview of the new single family home TOPA exemption that took effect on July 3, 2018
On July 13, 2018 DHCD released its annual report on Inclusionary Zoning. If IZ is near and dear you you, you can get the report here.
I hope that you have found this content beneficial. If you have additional questions, I welcome further discussion. If you have general questions or a legal issue in real estate that you are currently confronting, please, visit my website – book a free case evaluation with me – or simply give me a call and I would be glad to set aside some time to speak with you