Foggy Bottom Apartment Leasing Policies (neighborhoods, school, income)

[missie1618]

I will be moving to Foggy Bottom in August to attend the GWU as a graduate student. I have a few questions about the apartment leasing process in the Foggy Bottom area and DC in general. It will be my first time to live in DC, so I am thinking about living in the same neighborhood as my school. I understand that Foggy Bottom is one of the most expensive neighborhoods in DC, and I have found the most affordable studio (in DC standards) that I can in this area. The leasing company states that either the applicant has to make three times the rent value, or the guarantor/co-signer has to make four times the rent value. Is such policy the rental norm in DC? I just don't get why there are such stringent policies in place for a modest studio.

[MrKnight]

Originally Posted by missie1618

I will be moving to Foggy Bottom in August to attend the GWU as a graduate student. I have a few questions about the apartment leasing process in the Foggy Bottom area and DC in general. It will be my first time to live in DC, so I am thinking about living in the same neighborhood as my school. I understand that Foggy Bottom is one of the most expensive neighborhoods in DC, and I have found the most affordable studio (in DC standards) that I can in this area. The leasing company states that either the applicant has to make three times the rent value, or the guarantor/co-signer has to make four times the rent value. Is such policy the rental norm in DC? I just don't get why there are such stringent policies in place for a modest studio.

Some of the apartment buildings have these kind of policies, however, from personal experience, as long as you can prove that you have a steady income source and are actually able to afford the rent (realistically speaking) they will normally approve you even if you are slightly below the income requirement.