Long-term rental of private houses has recently been a very popular service. Today, everyone who needs rental housing can choose for themselves not only the optimal rental period but also the most suitable type of living space, starting from a chic suburban cottage and ending with a dormitory room.
Despite the wide variety of real estate, the most popular type of housing for rent are apartments and private houses, which are located within the city. According to a Harvard study, multi-family buildings – including the traditional “apartment” – make up about 61% of the country’s available rental stock. Of course, apartments are much more in demand than the private sector, although living in a house has a lot of advantages. Many residents of megalopolises who have lived in apartments for a long time are increasingly preferring to rent private houses.
Now, you can rent a private house for absolutely any period, both for a day and for a long time. Renting a house is in great demand mainly among couples with children and, in most cases, for a long time. That said, you can check the properties available on McGraw Property Management‘s portal.
The main advantage of renting a home is not only personal space but also the size of the rent. Currently, the cost of such housing is significantly lower than the cost of renting apartments, since the demand for the private sector is much less than for the same living area, located in high-rise buildings. Also, the amount of rent depends on the location of the house, remoteness from the centre, living conditions, area, communications, additional premises, as well as on many other factors.
In contrast to from condos or apartments, controlled mainly by property management firms, private homes are often directly rented from the homeowners. Because of the direct engagement with the owner, it is easier to place requests for desired modifications to the property or the lease agreements. Also, homeowners are usually more ready to accommodate modification requests than property managers. Personalization helps tenants to have a space that feels like home, representing their unique tastes.
Apartments and condos are stacked side by side or on top of each other, limiting privacy. However, private homes offer some separation between neighboring and adjacent properties. They often have private yards and outdoor spaces such as a patio or barbeque area, which provides an extra layer of privacy that enhances a tenant’s living experience.
Today you can rent an expensive multi-story mansion, as well as a small one-story house with two rooms, the so-called economy option. The budget option, by the way, is the most popular, since this particular type of housing has an affordable cost, therefore, even a family with a limited budget can afford to rent such a house.
Moving to a private house, even if it is rented, is complete peace of mind, proximity to nature, excellent conditions for raising a child. Also important are such advantages as the absence of problems with noise insulation and parking, relatively low utility rates, safety for children, etc.
Among other things, when renting a house for a long time, you can have a pet, grow vegetables, fruits, plants and just relax in nature. It should be noted that abroad, long-term rental of the private sector has been widespread for quite a long time and there it is considered quite normal.
A huge advantage of a long-term rental house is the possibility of renting a property with a subsequent repurchase right or the possibility of purchase in installments. And if more recently, only a few landlords could agree to this type of transaction.
Private houses come with several cost-saving opportunities. Rental prices are more negotiable, especially when dealing directly with the owner. Large apartment complexes are usually managed by property companies who set a fixed standard rate for all tenants. To cap it off, privately owned houses often include additional perks like storage areas and parking spaces in the rental fee.
Many sellers have become much more loyal in resolving such issues and agree to consider such a sale option as rent followed by redemption. For the tenant himself, this form of buying a house will be convenient, since renting with the right to buy out is actually the same mortgage, only with a much lower percentage.
In conclusion, renting privately owned homes comes with numerous benefits. From privacy, flexibility, and personalization to cost-saving opportunities. Consider renting a private home to enjoy these benefits. Good luck with your house search!
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