Finding your dream home can be a long and hard journey. Your dream home may be a cozy ranch with a huge yard, or a small studio apartment in the city. Either route you take, you will need to understand what it’s like renting from a private landlord.
What is a private landlord?
To summarize, the landlord is the owner of the property that is being rented out. The landlord is responsible for setting the price of the rent, maintaining the property, screens tenants, and takes payments.
Many homes and small apartment buildings are typically run by the private landlord. Whereas, large apartment complexes may be managed by a third-party property management company.
Let’s start with the good news!
There are many reasons why renting through a private landlord is beneficial to the renter.
Many times, when renting from a private landlord you may find that the cost can tend to be lower. But, in other cases, you may be able to negotiate the price with the landlord since you will be dealing with the owner personally.
As mentioned above, renting through a private landlord is a more personal experience. It is much more one-on-one and may become a much more intimate relationship since you could be the landlord’s only renter.
And on the other hand, there are also a few drawbacks.
While having a personal relationship with your landlord can be a huge pro for some, many can also see it as a con. The reason being is because some landlords may overstep their boundaries, for example, showing up unannounced.
When renting through a private landlord, you may not find the extra amenities that many larger communities have. For example, an onsite fitness center!
Overall, renting from a private landlord has it’s pros and cons just like any other option. But, understanding what is best for you will ultimately help you make the right decision!
Adding Tenant Report into your applicant screening process helps mitigate a large amount of risk, giving you the information you need to make the best decision possible — at NO COST to you!
Explore our rental applicant background reporting:
Tenant Report: Get Credit Reports + Background Checks For Tenants