Prez Obama Michelle & I Are Gonna Be Renters

5/25/2016 1:10 PM PDT

President Obama won't be getting outta Dodge after the election, instead he and the First Lady are moving just a couple miles from the White House ... into a rental crib.

The Prez and Michelle Obama reportedly signed the lease on an 8,200 sq foot Tudor-style home in nearby Kalorama -- a quiet Georgetown-adjacent 'hood. Barack and Michelle are sticking around the Beltway so Sasha can finish high school.

As for their new digs -- first reported by Politico -- it has mostly white interior and plenty of room to entertain guests with 9 bedrooms and 8.5 baths. 

The President's landlord is Joe Lockhart -- Bill Clinton's former press secretary. At least he's a democrat ... y'know, just in case they need a few extra days to make rent.