Rent Check
May 2014
More Renters, More Apartments

Warmer weather has finally arrived, and with it comes the hot rental season. As the DC region continues to experience an increased migration of residents, we're seeing record numbers of renters looking for apartments.

 

As our friends at Delta Associates explain below, the local market has experienced an influx of new development, temporarily decreasing rents. In addition to the growing number of relocations to our region, some existing residents are starting to "de-nest" and "un-couple" from living with parents or roommates due to improved job growth and reduced uncertainty in the region.

 

We're thrilled to live and work in a city with such a strong, stable residential forecast from both the supply and demand sides. And we look forward to helping all of these new renters find their urban igloos!

 

-- Rick Gersten, CEO & President of Urban Igloo
In This Issue

The trend is reversing. Families used to leave cities, moving to the suburbs for big homes and yards. But in recent years, many urban areas have seen a resurgence in family living.


We're looking for a leader to support and grow our team of leasing associates. Think you have what it takes?

 

 

The already oversized 36-month development pipeline grew to the highest level Delta has ever recorded in the Washington region, causing a 0.4% decline in Class A rents.

 

In the long term, the region's apartment market prospects remain extremely bright, given lifestyle, economic, and demographic trends.

Silver Spring is experiencing a cultural and communal resurgence - and many parts of this neighborhood have a distinct vibrancy as a result. The area has a diverse set of properties, from homes that date to the 1930's to newly developed apartment buildings.

 

 

Situated in downtown Silver Spring, our featured apartment building provides the ultimate in convenient access. Distinguished by its mix of high design and greener living, this property offers: 

  • Granite slab countertops and European-style cabinetry
  • Oversized walk-in closets
  • Spa-inspired bathrooms with soaking tubs
  • Courtyards solely maintained with reclaimed water


This prestigious building, part of a 21-acre community, offers comfortable living in a spacious 2 bedroom/2 bath unit. It features:

  • In-unit washer and dryer
  • Large walk-in closet
  • Stainless steel appliances and granite countertops
  • Outdoor pool and tennis facilities
  • 24 hour fitness center
Learn more about this condo

  

"I have used Urban Igloo to find an apartment under somewhat challenging circumstances twice and my agent delivered each time. He responded quickly and immediately and took the time to understand what I was looking for in a home. "

 
- Chris S., Woodley Park


"My agent did an amazing job leasing my condo. Once listed, it was what seemed like under 24 hours before she had what appeared to be great tenants at a very fair leasing rate. It was very easy to set up a time to show her the place -- and she was very efficient and helpful on setting the rate. Your office staff was also great working through leasing paperwork and Docusign. Thanks! And I will definitely recommend Urban Igloo to others."

 
- Aaron C., Bloomingdale
 
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