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D.C. Council Stops Evictions for Federal Workers

In Legislation, Real Estate by Richard Bianco

On January 22, the D.C. Council passed emergency legislation to give formerly furloughed federal workers and contractors relief from eviction, late fees and foreclosure sales.

The new law allows Judges to stay eviction and foreclosure proceedings against federal workers until thirty (30) days after the government reopens or 90 days after a worker’s last paycheck.

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D.C. Rent Concessions Law

In Real Estate by Richard Bianco

In the time crunch before the end of the Council Period, it seems that the years-in-the-making legislation to quell the practice of rent concessions will finally come to fruition.

Brief history lesson: prior to 2006 Rent Control was based on a system of rent ceilings. The “ceiling” was the maximum chargeable rent under the statute. For a variety of reasons, the “ceiling” would typically be substantially higher than the market rent.

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DC Council approves final version of AirBnB Law

In Real Estate by Richard Bianco

In October the Council took a preliminary vote to adopt among the most restrictive short-term housing regulations (AirBnB Law) in the Country. This week the Council passed the final version of the law, with only small changes. The new law will be a potentially huge impediment for owners who earn money renting out their property via sites like AirBnB, Homeaway, or VRBO.

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DC’s New AirBnB Law

In Real Estate by Richard Bianco

On Tuesday October 2, 2018, the D.C Council took a preliminary, unanimous, vote to enact one of the most stringent regulations in the Country on short-term housing rentals such as Airbnb , HomeAway, and VRBO.

If the bill becomes law in its present form, homeowners would only be allowed to rent out rooms in their main residence for 90 days per year while they are absent – so called “vacation rentals.” However, there is no limit on rentals while the host is present, i.e. spare bedroom “house sharing.”

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D.C. Real Estate News

In Other, Real Estate by Richard Bianco

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.

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D.C. property managers can NOT be paid a sales commission

In Real Estate by Richard Bianco

Here is a scenario I’ve seen a half-dozen or so times. A homeowner hires a professional property manager to rent out the owner’s house after a move out-of-state. The management contract contains fairly standard language stating that if the Owner sells the property to a tenant, the Property Manager is entitled to a sales commission as the procuring source. The owner at some point decides to sell, hires an agent, and either via TOPA or directly, the tenant purchases.