The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-01-17
own Y0URHOME
D. c. REALTOR
URGES
1t Property Depreciates, All
Gain-Easy to
Sell Out
By BATES WARREN,
OF M. and R. B. Warren. Realtors.


OF M. and r. b. Warren. Realtors.
With the rent legislation in the
center of the stage now, 1t oc-
Cured to me that one phase Of
this situation has not been brought
to the attention of Washington in
general.
There are hundreds of apart
ment jewellers who are dissatisfied
with the rent they are paying, it
is true, because the rent is too
great in proportion to the small,
stingy salaries the Government
pays its employees in general. But,
aside from these, there are hum
dreds of contented, happy owners
of cooperative apartments in
Washington who do not care
whether we have rental legislation
or not.
Their Own Landlord.
They have solved the situation by
becoming their own landlords. They
have full control over the manage
ment of the building. through their
board of directors, composed of
owners of various apartments in the
building elected yearly by the
owners Of all the apartments in the
building.
Thus, if an owner desires to sub
let or sell his apartment he must
get the consent of the board of
directors first. This insures each
and every owner that no undersir-
able occupant will get into the build
ing.
This is something that you can get
no where else except in q cooperative
apartment. The owner of a house
has no guard against who may buy
next door to him, nor the tenant in
a rented building has no protection,
except the control used by the rental
agent who in many cases let's down
the bars If the apartment has been
idle sometime.
The purchaser of a cooperative
apartment has an interest in COR
poration, which owns the building
and ground in fee simple. This in
terest is just as tangible and negott-
able as title to a house or lot. 1t
represents real money value which
you can sell, trade, or will to your
heirs.
Legal Status Valid.
There is nothing mysterious about
your rights and title in co-opera-
tive apartment. They are all drawn
up and assigned after a method
approved by the National Associa-
ton Of Real Estate Boards, which
was gotten up by the best legal
talent in this country.
This system has been in use In
the United States for over fifty
years. Millions of dollars are In
vested in cooperative apartments
each year.
It is a separate and distinct
branch Of real estate ownership and
has a proven recognized standing
Of a way in which to supply
great human need, namely the
ownership Of your own apartment
home.
Several hundred thousand dol
apartments have been built and
sold this year in Washington, and
the others are satisfied and con-
tented. If the value Of their
property increases, their rent is
not raised On the other hand,
their pocketbook has been in
creased in size by this additional
value.
The ff.ct that these apartment
buildingt4 are built and sold CO.
operativ ely takes them out of the
field of rental properties. There
fore they are being over looked by
the investigating committees OF
tenants, Congress. and Washing
tonians in general.
But in this manner the situation
IL solved. so that the occupant
will no longer have to be at dag
gers point with his landlord. For
he fS his own landlord.