Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-01-14
CITY AND DISTRICT.
Opinions of OWNER and Builders upon
the Rent Question.

HOOO--A CLASS OF HOUSES SUITED FOR RENT
ISs PURPosEs-sR- GEORGE ALFRED TowNsESD's
C0CNTRY BoME-THE RIDING SCHOOL BUILDING.
.THs SraE hit the nail square on the head on
Saturiay.r exclaimed young man TO q STAR re-
porter whom ne met on the street
How do you mean?" asked the reporter.
why IN printing that Interview about high
rents here in the city, was the reply. at TALES
exactly with my experience. / have been trying
to rent a house for SIS or $50 month, but it seems
impossible 70 do 81 Even the real-estate agents
TIL me that houses OF this character are very
s..arce. But don't need the aid Of expert testi-
rnony on this point; my own experience Is sum-
cient. As can't get a house that comes within
my means am compelled 20 board Occasionally
start ont with the intention OF renting house,
AMI travel all over the city 10 look at houses
which ] discover are not worth SIS month,
alfhGugh SIS. and even 800 Is asked. A mouse
That Is at AL desirable Is sure TO b. Sij. and even
$50. per month. ! was talking with friend OF
azo bur no. : h SS lin in PSiiadeipnia lie told
me that while here he was obliged 10 board, as he
was unable 20 pay the rents asked. When ne srst
went 70 Philadelphia he rented a house containing
eight rooms. nicely finished, and within twenty
minutes OF his pi business by the cable road
Inc rent was SIG per month"; and afterward he de-
tsrnined 10 buy the house. He paid small amount
az money as the nrst installmeni, and then 50
Der month until he had secured "A home. IL would
take eight zine years 10 buy house at this rate
here"
WHAT REAL ESTATE AGENTS SAY.
subsequently IN IaiSlflE Win Il 0uf1Ucr OF real
estate agents the substance OF this complaint was
mentioned, ana a vauety OF opinions were ex-
prrSSed-
many houses OK tire character described for rent
There plenty Ot houses that are vacant but the
rent asked il considerably higher. ranging from
SO TO f45. one reasOn Is. think, the high price
OF land. No one can afford To buy land at 81 and
Si25 per foot ana bun Id house 90 rent for s,5 per
ui1Lth. An average 0ity lot at such figures would
cost e. 600 and upvarT AT the present time 1t is
frr Tn Lam In The northwest section
west OF I2Ih street anu inside OF Boundary, at a
less rate The same II true In other localities
which are convenient OF access In order 10 Duy
ground for 30 and 7 CENTS per foot you have TO go
some distance from the center OF the city. Then
prices and that the prevalent idea thai property
must pay 10 and II per cent gross on the money
invested People here are not satisfied with low
rate OF interest. They want 20 make 3, or 10 per
cent net. while In other cities people are con-
tented with a much lower rate OF interest," provtd-
Ing only thai their money Is safely invested. OF
course there II the contingency which every prop
erty-Ov must consider OF his houses being for
time without tenants, but In this city when
FAIR. such a contingency rarely occurs"
III Is all nonsense" remarked another dealer.
to whom the matter was ment.pned. There are
plenty OF houses which can he r,Nnted for SIS and
SO per month, and In good locahIes, too man
who wants 70 ouy a house can sseu r , sne pest
well as owners and it Is 50 arranged that the
monthly installments are not much greater than
the rent That Is not the trouble The people
here are TOO particular. The majority want E25
house in S75 neighborhOOd- Nearly ALL our ap-
plicants drsire a house In the nOrthwe.N section,
In some other fashionable locality. They also
want a house with some style about n, and, or
course, they crafty such tastes. they IuuSt ex-
pect 10 pay for IT, The great desire Is 10 De In a
locality that Is central There are many people
who won't walk and even those who live .seden-
tary lives ride back and forward In the street cars
10 their places OF business The leading OoIeotlon
that We hear 10 property that we offer Tor rens Is
not 50 much the price a that II Is so far away or
else that the neighbOrhOod l. not sly ltsh-'
"Have you any houses on your list that rent foV
&s5 and $50 per month";" asked the reporter.
Certainly I have was the quick response.
s.There Is A house obtaining six rooms ON Street
between 9th and 10th streets northwest, which
viii rent for sa.5o per month; Then there are
seven-roOm houses on + street, between 1911 and
Nth streets northwest. which rent for ssJ per
month On street northeast, near Lincoln PARK,
there are seyen-rOOm houses which can be rented
for 81 There are some houses on ii street near
18th street northeast, and the rental Is so. Then
on 18th street northwest near the Boundary, there
are nine-rOom houses which can b. rented for
$3.50. On street northwest, near .SS1 street.
can rent you nine-roOm hotis. for SD per month";
These houses are In good condition and suitable
Tor any person who wants n comfortable house.
II street-car lines were extended more generally
throughout the city, the tendency that exists at
present 10 crowd together In convenient ana CEN
tral localities would Dc. TO large extent, over
come Rents are high VI course In some po, tons
of the city, but this Il mainly due 10 the demand
Tor houses owners ans going 10 take ali they can
get, and It Is natural 10 suppose that no man Will
ask so for house which he can rent for 49,"
MAN WHO BUILDS.
In conversation with a gentleman who builds 4
large number OF houses OF moderate size TO rent the
reporter asked him To give the figures Of the cost
OF erecting house which could be rented for So
per month
on the prlce Of the land You can't erect a good
Siyrvom house on land that costs 81 foot and af-
ford 10 rent II for ss5 per MONTH You can readily
understand why that Is 81. For instance: Sup
pose the lot lxsO feet-and Il would be UNUSUAL
% get lot Of that size unless you bought large
block OF and and made a su0,iiyfslon-such a
lot at 81 per foot would cost 81 $50 Now IL would
take 5000 10 build good siX-rOom house, with
bath room and all the modern improvements. IL
could, however, De properly built for such sum-
and IL would not be thrown together as a good
many houses are that are built by Spectators.
The total cost, az you see, would be 81 80, and
the monthly rental OF So would pay gross reve-
nue. OF trtfie over per cent. This l. not con-
stdered good investment, for the reason that the
taxes and Insurance yearly would amount to about
two per cent, thus leaving something over
Per cent as the net revenue. But this amount is
and then there Is the contingency OF the house
being without tenant for a month or so In a
year. IL the ground Is purchased for 40 cents a
FOOT. then think that 1t would pay to erect upon
IL 2,OO house, and rent II At tine figure named"
The difficulty" he continued, 'Jhat presents
ftsef Is TO get such ground IN a part OF the city
where good tenants would be likely 10 go. II you
rented 20 class OF tenants VINO abused your
property, Ii per cent would hardly reimburse
you for the damage that would be sustained. There
- one thing quite certain that rents will remain
high 50 long as people object 20 living some dis
lance away from the center OF business. TnIs oh,
Jection has caused In the rrst place the high
rents and IN The second place the improvement OF
whole squares with class OF houses which rent
from Sl2 10 <lj per month. There is greater need
for houses renting from So 20 SO per month, and
by the expenditure OF more MONEY In making ia
proyements this pressing need would be met and the
character OF localities entirely changed. The Inen
who make the most money IN this city by invest
ing In real estate-I don't mean mere speculation
are the men who build good substantial houses
on account OF the construction and because sucn
houses attrt-ct superior class OF tenants they
have few rcpairs 10 make. But II you suggest 70
u man 20 undertake improvements OF this class In
locality That Ii, perhaps, some distance aWay
he would laugh at you He Is convinced that the
class OF tenants he would Ike TO have wont be
willing 10 ~ that far The consequence is thar
such localiues are being improved By houses OF an
Inferior character and people complain that they
can't md suitable place 70 live"
BFEcTs OF THE GRoUNpRESr SYSTEM
"People talk about high rent, observed another
extensive builder, 'Dut Will venture the assertion
that In no city are better and more convenient
houses 20 BE- rented for the money than I'm this
CITY. one reason Il there are no ground-reuts here
The land goes with the Improvements. Ground
rents, running "a they do for a term OF years ma
AuOrdins perfectly safe Investment, are low AZ
the Improvements revert TO the landowner unon
the expiration OF the time the holder OF the 49,
builds as cheaply as possible IL Is natural th,t
he should q" ~, but yOu can see that the amount
OF money Invested Is comparatively small and
hence the rents are cores pOndlugly small The
enect of such "A system Is bad for the CITY and Tor
the individual, whether be b. owner or tenant
People living IN city where the land IS leased and
not sold are obliged 20 occupy houses OF an infertor
grade. There Is not the same steady apDncci .fion
IN values a. where large sums of money are snent