Three weeks into July–and a month since all the work there was completed–and my condo in Arlington hasn’t yet been rented. The property management company contacted me today to tell me that they’ve shown it a few times, and everyone really raves about how much space there is and how nice it looks, but no one is expressing interest in actually leasing it. According to the management company, not being within easy walking distance to a Metro station (even though there are buses every six minutes that get you to the Metro in another six) is the primary reason the condo isn’t renting. I’m starting to wonder if I chose the right management company; no other owner has ever had any trouble selling or renting a unit in our building, one of the most desirable in south Arlington.
Anyway, they want to lower the asking rent by $150, and I’ve agreed, though I already had gone a couple hundred dollars lower than other similar units in the building have rented for. At this point, though, I really need to get the place rented, even if the monthly income won’t completely cover the mortgage payment.