The rental community isn’t just made up of faceless corporations. That’s where private landlords come in.
There are so many decisions to be made when deciding on a new home. Although things like location, cost and floor plan are all ultra-important, it’s equally as critical to think about exactly what type of landlord you want.
That’s because there are some pretty significant differences between private and corporate landlords. Depending on your personal preferences, one or the other is likely to stand out in a more positive way, making the entire rental process easier on everyone.
How private landlords are different from corporate landlords
Unlike corporate landlords who work for a big company with dozens, even hundreds of units per property, private landlords typically own the property themselves. In fact, there’s an entire industry worth of people who scoop up houses, condos and townhomes to turn around and rent them out as investment properties.
Occasionally, they’ll outsource a property management company to handle the leasing process, but often they’ll just do it themselves if they’re local. This comes with a variety of pros and cons which vary in significance from person to person.
Private landlords are a one-stop shop
Private landlords are always the primary contact for any issues or questions regarding their property. Sure, they might outsource a leaky faucet to a handyman, but they’re still the first person a renter should call. This is not always the case when dealing with corporate landlords. In fact, there’s often a different person on the other end of the line. Private landlords also tend to have more in-depth insight into the property, since they’re not managing hundreds of cookie-cutter units.
There’s no one else to complain to
Most private landlords are helpful and responsive, but occasionally one doesn’t provide the level of service most renters need. Since there’s no one above a private landlord to consult when that happens, it can make for some uncomfortable conversations and situations. Avoid this pitfall by getting a reference from a previous renter.
Find out if the landlord was quick to respond to questions, handle repairs, etc. You can also consult Yelp or sites like Review My Landlord or Rate My Landlord for reviews to find out if previous renters were satisfied with the landlord.
You might be a private landlord’s one and only
Even private landlords with multiple properties still won’t have the steep number of renters to handle as corporate landlords do. This means that you’ll be on a first-name basis with your landlord, and it’s unlikely they’ll confuse your unit or request with anyone else’s.
But private landlords don’t have corporate resources
Although private landlords are typically quick to respond, they also often have other jobs to contend with. As a result, the response time for an urgent issue might be slower than with corporate landlords, who typically have someone available round-the-clock to handle sudden matters.
Corporate landlords also usually keep repair professionals on staff to quickly fix any major issues. Private landlords may also try to avoid major maintenance requests and repairs (like a new appliance) until they’re absolutely necessary because the cost is literally coming out of their pocket.
Private landlords are often more flexible
Since the private landlord owns the property outright, they can make the decisions on when to bend the terms of the lease and when not to, without worrying about the strict rules put forth by a corporation.
So if you want to sublet a room to your visiting cousin for a few months or get a small dog, it’s easy enough to talk it over with a private landlord and write the new terms into an existing lease.
Private landlords offer fewer bells and whistles
Most corporate apartment communities these days come with a ton of perks, like fitness centers, swimming pools, dog parks, tennis courts, concierge service and so on. In most cases, however, private landlords can’t guarantee this level of finesse on their own property.
Renters at private properties enjoy more privacy
For many renters, the increased privacy is worth forgoing all of the extras. First, unlike an apartment a house is physically separate from other properties, giving the renter a lot of literal space. Even townhomes and condos are found in buildings with thicker, better-quality walls. But then there’s the added privacy that private landlords are not usually on-site or anywhere too close by to keep tabs on tenants.
Private landlords have the control
Follow the terms of a private rental lease to the letter because the landlord controls the contract and can enact it if they see fit. This means that you could get fined or evicted for breaking lease terms, often without any of the warnings that corporate landlords build into their contracts.
Renting from a private landlord is distinctly different, but not necessarily in a bad way
No rental experience is likely to be 100 percent positive. Weigh the pros and cons of renting from private landlords and land on the option that best suits your personality and tastes.
Source: rent.com