Between apartment buildings run by property management companies and private landlords, it can be overwhelming to decide what or who to rent from. Depending on your needs and housing situation, going with a private landlord could be a solid choice as you typically have more flexibility with qualifying to rent, have better communication options, and have more freedom in terms of following strict rules- to name a few.
If you are deep into your house/apartment search and are considering renting from a private landlord, here are the pros and cons of doing so.
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Advantages:
1. Communication is More Direct: When renting from a larger apartment complex with a set management staff, it can often take longer to communicate with the person (or people) you need to due to understaffing or the processing time a formal request takes. With a private landlord, you deal with him/her directly, as they are the one managing the rental property. You can typically contact your landlord through multiple means of communication, including phone, text, email, and even social media (depending on the landlord). Remember, though, to treat your landlords with respect when it comes to the hours you reach out to them. Keep it professional and try to keep communication between business hours on weekdays.
2. Rules are Typically Less Strict: Regulated apartment complexes usually have a standard set of rules that residents are required to follow. These rules are typically centered around having animals, making changes to the interior/decorating, etc. In addition, complexes enforce certain rules that apply to lease terms and rental agreements, which can affect whether or not you can do things like move out early, rent short or long-term, and more. Private landlords may be more willing to be flexible when it comes to the length of a lease or pet allowances.
3. There are Housing Options to Choose From: In the renting world, it is more common or popular to rent from a complex, which is typically made up of apartments only. While this is good for some, this restricts families of certain sizes, people who have animals, or those who need a certain type of home for better mobility or accessibility. Renting from a private landlord, however, opens up more housing options and expands your choices, such as single-family homes, townhomes, tiny homes, condos, etc., which gives you more flexibility and control over the type of home you decide to rent.
4. Qualifying May Be Easier: During your apartment/housing search, you may notice that property management companies and large complexes often have a strenuous and strict application process to determine your eligibility to rent with them. It is common for this process to require high credit scores, three times your current income, background checks, etc., which cuts a large portion of individuals out if they can’t meet one of the several strict requirements. While renting from a private landlord doesn’t mean that he/she won’t have similar requirements, it does give you the chance to have a more personal connection with the landlord, explain your situation, and supplement other information that can ultimately help you if you don’t meet certain requirements.
Disadvantages:
1. Lack of Amenities: One perk of living in an apartment building managed by a property company is the new features and amenities that typically come with the place. Appliances like refrigerators, stoves, dishwashers, lamps and light fixtures, etc, are all things that property managers will invest in, and likely replace at one point or another. A private landlord is responsible for the home as well as the contents of the home, which means that adding expensive amenities like a stove or refrigerator can be out of their budget. Because of this, you as the renter will have to be responsible for bringing your own appliances and amenities if your landlord does not provide them, which can be inconvenient for you.
2. Slow Turnaround Time for Maintenance Requests: Whether you have a leaky faucet or a pest problem, putting in a maintenance request with the management at your apartment building can not only be frustrating, but it can also be time-consuming as there are multiple points of contact that your request has to go through. Unfortunately, handling maintenance issues does not get much better when dealing with a private landlord, as private landlords typically rely on themselves to deal with whatever issues may arise in your place. In this case, it pays to be patient or maybe learn some DIY solutions to fix your problems instead of waiting on your landlord.
3. The Landlord Could Live Close By: There are some situations in which a private landlord will live close by to the tenants they are renting. Some own duplexes, rent one side of the duplex and live in the other, or simply live down the street from the rental property, which can feel uncomfortable.
Renting from a private landlord has its fair share of advantages and disadvantages, but weighing both sides can help you make the best decision for yourself when it comes to your housing journey.
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