Ongoing Costs!
May 2, 2025
Buying was just the beginning.
The Hidden Price Tag of Homeownership: What Your Real Estate Agent Conveniently Forgot to Mention
So, you've bought your dream home. Congratulations! Pop the champagne, invite the friends over, and enjoy that new-home smell while it lasts. Because—not to be the bearer of bad news—but that mortgage payment? It's just the beginning of your financial relationship with this charming money pit you now call home.
Don't get us wrong; homeownership is wonderful. But a house isn't just a passive asset—it's a living, breathing entity that requires constant attention and care. Without regular maintenance, your biggest investment will literally fall apart around you. Let's talk about what your beaming real estate agent might have glossed over in their sales pitch.
The "One Percent Rule" (That's Actually More Like Two)
You've probably heard that you should budget about 1% of your home's value annually for maintenance. How quaint. Americans spend about $280 per month on home maintenance projects — that's almost $3,500 a year. For a $500,000 home, using the 2% rule many experts now recommend, that's a cool $10,000 per year—or about $833 per month—on top of your mortgage, property taxes, and homeowner's insurance. Suddenly that "affordable" monthly payment doesn't seem so affordable, does it?
The Unexpected Guests: Major Repairs
Nothing says "adulting" quite like discovering termites in your basement or realizing your HVAC system has decided to retire early. It would cost the average American $623,290 to own a home over the average property lifetime. Major repairs can be especially painful, with home maintenance costs nearly doubling in a single year according to recent surveys.
These costs aren't evenly distributed, of course. You might go three years without a major expense, and then suddenly need a new water heater, roof repair, and foundation work all within six months. It's like the home maintenance gods have a particularly twisted sense of humor.
The DIY Delusion
Many new homeowners enter their property with visions of saving thousands by handling maintenance themselves. Three YouTube tutorials later, they're standing in the hardware store for the fifth time that day, wondering why their simple bathroom caulking job now requires specialized tools and possibly a structural engineer.
The real cost isn't just in materials—it's in the time you spend. Even if you're handy, maintaining a home can feel like a part-time job. Many homeowners eventually concede defeat and hire professionals, adding even more to their costs.
Why Professional Management Makes All the Difference
As your property management company, we don't just collect rent—we're your home's guardian angel. We've spent years cultivating relationships with the most reliable contractors in the industry. That means when your tenant calls at 2 AM about a burst pipe, we know exactly who to call—and they'll actually answer.
Our maintenance professionals don't charge the "I noticed you're desperate" emergency rate that you'd pay as an individual homeowner. Through volume discounts and long-standing relationships, we secure services at rates that individual homeowners simply can't access.
More importantly, we understand preventative maintenance. Our systematic approach to home care means catching small issues before they become wallet-emptying disasters. That hairline crack in the foundation? We spot it during routine inspections, long before it becomes a $20,000 structural repair.
Remember, you're not just maintaining a house—you're protecting your investment. Every dollar spent on proper maintenance preserves your property's value and saves you multiples in future repair costs. With our management team overseeing your investment, you can enjoy the benefits of property ownership without the 2 AM emergency calls or endless weekends spent at the hardware store.
So yes, owning a home costs more than most people expect. Nine out of 10 homeowners who bought a home in the last three years say they were unprepared for the extra costs of maintaining and financing their property. But with the right property management partner (that's us!), at least you won't be facing those costs alone.
Or as we like to say: We can't make home maintenance cheaper, but we can make it a lot less painful—and a lot more effective at protecting your investment for years to come.
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The Obvious Reasons to Treat Tenants Right
Very nearly every prospective tenant at very nearly every showing asks the same question: "have there been any issues with pests?" The best possible answer is "no, but we already have a maintenance agreement in place." Most DC properties will never have a major ant infestation like lots of properties in the West will see. Wasp nests do happen but most types of bees do not take up residence in residential properties in DC. No, the major causes for concern throughout DC are roaches and vermin. Both of these unwelcome invaders cause no end of disgust and worry. Both need to be dealt with as quickly as possible for trust to be retained on all fronts. Roaches are, broadly speaking, easy. Tenants need to do their part and keep a place clean, swept, no crumbs, etc. And if tenants see roaches, we need to know right away. It's time to get the exterminator scheduled for the first available appointment. Roaches are gross but they're not especially difficult to treat unless there's a full blown infestation, which is a rare occurrence in properly maintained units. Vermin are universally hated and unwelcome. Mice are tiny but a nuisance and rats can be larger than anticipated and are more aggressive than rats. During the last year, a number of people throughout DC have discovered more of both. There are 2 likely causes for this. First, a lot more of us are at home during the last year and we have more time to notice more things about our homes than we ever did before. Second, with the periods of closure the hospitality industry faced, followed by lower than usual demand upon limited reopenings, the vermin were deprived of their local food sources and started migrating away from their normal haunts and expanded more into residential areas. Some of these areas saw an increase from a little to a lot while some went from nothing to something. In no cases did anyone welcome these new visitors. The good news here is that a treatment plan, typically an ongoing one, can address most rodent issues. There are 3 steps to take with rodents. First, residents need to keep tidy and properly dispose of their trash and do their part to limit overflowing trashcans and dumpsters. Second, the managers need to schedule the pest control company to monitor and bait the inside and outside of the property as appropriate and based on the reports the tenants provide, and finally, most critically, a handy person needs to be brought in to seal any holes behind appliances, cabinets, under trim and moldings, and any other places likely to allow intrusion. Mice are tiny. Rats are much bigger than mice and a rat can squeeze its entire body through a hole no bigger than a quarter. A very small hole is enough. A pest control contract is very strong use of an owner's maintenance budget for a property. It does not cost much and it buys a huge peace of mind for everyone involved.
In most case, people treat one another well enough, especially when dealing with one another one-on-one. Most of us are simply trying to go about our business and, frankly, do not aspire to long or contentious interactions with people on our periphery, like our landlords and property managers. People on our periphery can have an outsized impact on our lives despite their otherwise very limited involvement in them. When something happens, something that impacts something as fundamental as where we call home, where we go to find comfort, peace, and solace, it is very easy to take such things personally. Once that happens, the opportunity for escalation and a failure of empathy are all too easy. If you are a client, you need to remember that it is not personal. You own a property in DC, a vibrant and exciting city. Even though bad news is never welcome, you are in a great position and have been renting your former home out to someone new who gets to experience the same joy and comfort in it that first led you to purchase it, whether your purchase was recent or many years ago. Hopefully, your transition away from being an owner occupant has involved consistent, year-over-year profits and when your manager shares news of disappointment from the tenants, or an urgent and expensive repair, you take it in stride and with due consideration. If your manager contacts you without warning, it is never good news and you need to be prepared for that call or email. Eventually, something goes awry and it is never welcome news. Every unit has issues. Old houses have charm but unique problems that may have been idiosyncratic and beloved by you but will be irregular and off-putting to a tenant. New condos have just as many issues in their construction and maintenance as older condos and the chic appearances of the finishes may not accurately represent the quality of construction behind the walls, where the more expensive issues will be. If you are a tenant, please remember that we will always do everything we can as fast as we can to address your comfort and wellbeing but if disagreements arise, we are bound by the law and the lease. Assumptions need to be confirmed at or before the lease signing. Your happiness is our goal and we will do absolutely everything we can to exceed your expectations but what may have been common in another rental (whether in DC or elsewhere) may beyond our rights to provide you. In those cases, you help your own prerogative by explaining your position as clearly as possible and with the full knowledge that we are in now way your adversary. Unfortunately, the customer is not always right but the real kicker in that is that tenants are not the customer, the client is the property's owner. As the manager of the property and your landlord, we will always strive to make you happy but there are times when expectations cannot be met and in those times, some people, in their sincere disappointment, react with threats, either implicitly or explicitly, they solicit the assistance of parents to weigh in, they take such strident actions as they think will help in their need to advocate for themselves. Frankly, it all makes sense but it is never helpful and it ratchets up a situation that needs no further energy. We all need to do our best to provide each other with our clear expectations when a situation arises and be mindful of the constraints and responsibilities posed by the situation, whether by the lease, local ordinance, or relevant bylaws. The property's owner may be the customer but the person to make happiest is the tenant and everyone stays happiest and most satisfied when simple courtesy and patience are the defaults. Things happen, but your manager has been through this before and is invested in helping resolve it as best as possible as soon as possible.
Every year, we receive multiple requests for air duct cleaning. In almost every case, we do not do it. Clients want to be sure they are taking the best care of their property and are motivated accordingly. Tenants want to be sure things are as clean as possible and both parties could not be more sincerely motivated in their desires. The problem? It rarely does what anyone thinks it will and it is largely an invention of the service industry that has led to the tail wagging the dog. The more people became aware of this service, the more they assumed it was beneficial or even necessary for proper maintenance and good health. Both of those are very understandable but also largely misplaced concerns. A central HVAC system is a closed loop. It pulls air in through its return air vent (or vents), conditions it via heating or cooling, and then, through a powerful fan, supplies it through a system of ducts to the vents throughout your property. If the system is on, the air is moving and there is very little opportunity for accretion. And even if the system is off for a prolonged period, which is pretty unusual in DC, once it's back on, the air is moving. And if we've all learned something over the last year, it's how much better moving air is. There is just VERY little opportunity for anything even a little bad to happen in a properly functioning central HVAC system. Everything is always moving and a rolling stone gathers no moss, so to speak. With all of that said, duct cleaning is not a scam per se. The most legitimate reason to consider it is if you have had any sort of pests inside the duct work. That is very rare (again, it is a closed system and the only onramps or offramps should be the vents themselves) but it has happened and that would be a situation that may very well benefit from a duct cleaning. The idea that it should be routine, regular, or a necessary part of a maintenance regimen? That's just not true but a lot of places have made a lot of money convincing folks otherwise. Final thought, a post in PoPville , from a few years ago, about the experiences of our neighbors in Maryland.
High on the list of things that don’t need explaining until they do is the importance of good communication among property managers, owners, and tenants. In many, many cases, a property manager will only ever meet a property owner virtually via a phone call and an exchange of emails. A tenant will have very few interactions with the property manager after their application is approved – once they have moved in, most maintenance and inspections will be done while tenants are at work. If you are a property owner and especially if you have used a management company in the past, what are your expectations this time? If you are transitioning between management companies, what standards do you have that your previous company failed to meet? Every property is different, every client is too, and we have learned that again and again over the years in our interactions with our clients. It is key to know in advance that some things may be done differently or in a way that’s new to you but if you are an owner, your trust in us is our foremost goal. Let us know what you expect and we will make sure to deliver it to you. The fear is never malfeasance, the fear is little things that get lost in translation and might give you pause. We want to understand your prerogatives from our first interaction with you. We only want to work with clients who we understand well and we know share our standards for tenant comfort and care. It is important to have a considered exchange with your property manager where both parties get to take the time to ask questions and follow up so that any aspects of your property that may go unnoticed but need to be understood get addressed and a plan is developed to keep issues continually addressed as management continues. One part of what makes property management so rewarding is the ability to look after someone’s home even as it becomes home for someone new and everyone has their own expectations about what home looks like, how home should feel, and what being home is.
DC has thousands and thousands of apartments available to rent. Some are in new, or even very new, Class A buildings with fresh finishes and very modern design whether they are purpose-built apartments managed on site or condominium units, which are each individually owned. However, one thing nearly all of these newer units have in common is a reduction is size from what was expected when their older predecessors were constructed. Anyone who has hunted for an apartment in recent years has noticed a difference in size that closely correlates to when the project was delivered and prospective tenants are often forced to consider a trade-off, newer everything with a smaller living space or an older property with less modern features but a, usually, larger area for rent. There are obvious plusses and minuses to each (and we are painting with a broad brush here; there are definitely small units in older properties and some large units in new developments) and everyone will make the decision that best represents their interests and the features most important to them at that time. However, when considering your options as a tenant, be aware that some older buildings do, on average, offer you more space to spread out and will likely require less compromise when it comes to considering furniture and upholstery you already own. This consideration is especially relevant for anyone relocating from outside the greater Washington region, especially if living in a larger property or a suburban home; the furniture you own just might not fit when you move in DC. The most common example of this in the last two to four years in DC is overstuffed sofas and king mattresses. We are seeing an uptick of king mattresses among renters and it is easy to see why (they’re awesome), but the fact of the matter is, it’s the rare modern apartment that can accommodate a king mattress or, in the living room, a large sofa. Not everyone has ultra-modern tastes, but modern pieces are often what best fits in DC in 2020. When shopping for your next home, be sure to consider how the neighborhood, the housing stock there, and what you already own will mix together to increase your overall comfort or potentially require a consignment sale, an ad on Craigslist, or a donation. And if you see an apartment that will fit your king mattress, apply on the spot!
Maintenance is important for 3 reasons: First, you want a property management company as dedicated to the upkeep of your real estate as you are. You want a firm who can consistently demonstrate to you the level of care necessary to keep you interested in the property you liked enough to buy in the first place. Do you have higher-end fixtures or finishes? You need to work with a company who will work to track down suitable replacements and match them precisely (if the part or fixture is still available). You never want to lose a tenant because of a perception that you’re not fully committed to maintaining the property they initially fell in love with themselves and felt compelled to lease. Second, proper, timely, and ongoing maintenance demonstrates to all involved that issues will be dealt with fully and addressed thoroughly. The comfort of the tenants and their continued satisfaction is a key reason for ongoing, multi-year tenancy. Third, and finally, you never know when or how your plans will change. Though infrequent, you might be an owner that needs to move back in and you want to be sure it’s as great as when you left it, or your circumstances may change and a sale may look attractive and believe us when we tell you, our colleagues involved in helping you sell the property will have a comprehensive list of things they’ll want to see completed before listing it, especially if anything has gone to seed or hasn’t seen an update in a long time. As a real property owner, you always want to make sure you are working with the sorts of professionals who will ensure your long-term best interests are looked after and protected. You want to empower them to give you the feedback necessary to make good decisions about your property’s upkeep going forward.
Washington, D.C. is a unique property market with high potential for profits for property owners. We know that some D.C. property owners become landlords unexpectedly when amazing opportunities elsewhere present themselves. Many tenants find themselves in the same situation. D.C. is an incredible place to live due to these constant comings and goings, whether returning residents or those new to the city and its possibilities. As we approach 2020, we are offering a glimpse into our predictions for another strong year for the region and especially for Washington, D.C. Amazon Excitement Builds When Amazon announced in November 2018 that it would build its second headquarters in northern Virginia, there were a lot of questions about the changes to the real estate market for the region. Excitement for Amazon’s National Landing arrival will continue to grow in 2020, but we expect that the ramp up for the arrival will be slow with only modest increases in Amazon’s headcount in 2020. Increased Competition for Studios and One-Bedrooms In Washington, D.C., you will find a lot of new inventory in the studio and one-bedroom apartment market, bringing increased competition. This increased inventory means an increase in pressure on competing units. Many new studios and one-bedroom units are routinely priced between $2,300 and $2,700 per month. These properties offer tenants more amenities such as concierge services, parking, rooftops with well-designed entertaining spaces and occasionally pools, dry cleaning pickup and drop-off and gyms. Owners should know that, increasingly, this means that tenants expect to pay less if a unit does not offer these services. Continued Interest in 3+ Bedroom Houses Renters in D.C. continue to be very interested in houses for rent. 2020 will be a great time to have a 3+ bedroom house for rent. One main factor driving this interest is the higher prices for one and many two-bedroom units. Houses provide an important, and much-needed, opportunity for both families and roommates looking to split rent in a more manageable way. Increased Compliance Standards D.C., through its Department of Consumer and Regulatory Affairs inspectors, has significantly increased its compliance actions. The city is better about tracking the status of Basic Business Licenses (BBL), which is important as a property owner. You should not let your BBL lapse. If it does lapse, DCRA will reach out to find out if you are illegally renting your unit. Even if you have moved back into your home, it is best to renew the license if you ever plan to rent the unit again. An un-lapsed license stays good forever. *** The Washington, D.C. market will continue to stay strong in 2020. Owners need to be prepared in the new year for increased oversight and more competition to make the most of your property. The team at Cividwell is here to help with any of your property management needs. We understand the Washington, D.C. market in a way few others do, and we know how to position your investment in a way that can take advantage of the vibrant opportunities that abound here. We know how to work with DC tenants to form strong, stable working relationships. This leads to steady rental income and more profitability for you. We would love to work with you in 2020 to help you make the most of your Washington, D.C. property.
Pets are great and, for most people, are considered an integral part of the family. When renters begin their search for where to live, one important factor they consider is a home where their furry friends are allowed. Studies have shown more than 66 million households in the United States have pets, so choosing whether or not to allow pets into your property can impact your rental pool. While some property owners are concerned about pets, allowing pets will significantly expand your potential reach. Here are a few pieces of advice to consider when deciding if you will allow your tenants to bring pets: There are legitimate concerns surrounding pet-related damage to a house, but in our experience, we have found these concerns to be wildly overstated. Should there be any pet-related property damage, you can use the security deposit to remedy the situation. We do not recommend charging additional pet fees not required by an HOA. For the most part, pet owners are very conscientious. Having a pet requires a lot of responsibility, which is a good characteristic when looking at potential tenants. If you are concerned about allowing a pet into your unit, ask for references. Pet owners will gladly provide references for their pet. Allergies can be a cause for concern, but cat allergies are far more common and pronounced than dog allergies. If you consider a pet restriction because of allergy concerns, it should probably be cats. *** While there is a lot to take into account when deciding if you want to pet owners to rent your property, allowing animals can help to increase the value of your property and bring in a wider selection of tenants.
Nestled in upper Northwest D.C. is the exciting neighborhood of Tenleytown. Located between Georgetown and Friendship Heights, Tenley is part urban: boasting a centrally located Metro stop and connections to all major bus lines; and part suburban, featuring tree-lined streets, stately homes, and a family-friendly atmosphere. Wondering what Tenleytown has to offer? Here are some of the reasons we love this neighborhood! Looking for an easy way to get around? The bustling Wisconsin Avenue corridor is the heart of Tenleytown. The Tenleytown-American University metro stop connects the neighborhood via the Red Line, with quick access to the rest of the nation’s capital. Looking for delicious food? Tenleytown boasts a wide variety of restaurants and eateries to suit all varieties of taste buds and budgets. Looking to sit down and enjoy a great meal? Check out Guapo’s , a local-to-D.C. chain of Mexican restaurants with something for everyone. Need something fast? Try fast-casual Mediterranean food at Cava Grill , or stop by the Tenley outposts of popular restaurants like Nando’s , Panera Bread , or Chick-Fil-A . Looking for something healthy? Robeks Fresh Juices and Smoothies can serve up something delicious. Looking for a crowd pleaser? Grab a burger, fries, and a milkshake at Z Burger or pick up the family meal at Crisp and Juicy Chicken . An expansive Whole Foods Market sits right in the center of the Tenleytown business district and features a dine-in area in addition to its wide selection of groceries. And just around the corner sits a brand-new Wawa convenience store. Shopping for the essentials? You don’t need to leave the neighborhood. The District’s largest Target store sits right in the heart of Tenley, having only opened in Summer 2019. As you move in and get settled into your new home, The Container Store and Ace Hardware can help solve any problems! Looking to learn something new? Just a 15-minute walk from the heart of Tenley is The American University , home to more than 14,000 students. AU is a renowned academic institution, the first carbon-neutral university in the country, and only one of two colleges in the United States to be chartered by an act of Congress. For Tenleytown residents, American University is also a hub of activity. The gorgeous campus itself is a recognized arboretum. The Katzen Arts Center and American University Museum provide visitors with access to world class art and music, in addition to hundreds of other plentiful offerings from lectures, speeches, panel discussions, book reviews, and film screenings in the areas of politics, international affairs, communications, science, the arts and more. Plus, you can cheer on the mighty AU Eagles and their NCAA Division I athletics teams - especially during basketball season! Whether you’re seeking a warm and welcoming neighborhood feel, or the excitement and convenience of amenities for the busy young professional, Tenleytown has something to offer for everyone! *** Tenleytown is just one of our favorite places in D.C. Stay tuned for more neighborhood profiles on our blog. Looking to make Tenleytown your home? Keep an eye out on our available properties here . Looking for someone to help manage your Tenleytown property? Give us a call today.
