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Renting from Private vs. Corporate Owners

When Considering Houston Rentals, Are Individuals or Corporations Better Landlords?


Houston Apartment Rentals


If you’re looking at Houston rentals for a condo, single-family home or even an apartment, you may be wondering if the better landlord will be a private individual (the homeowner) or a property management firm (such as In the Loop Properties).

 

Naturally, the members of our Inner Loop Properties service believes a good property management firm makes the best landlord, but let’s take an objective look at the issue.

 

First, here are some interesting statistics courtesy of AllPropertyManagement.com, a nationwide “resource for those researching rental and association management companies,” according to its website.

 

According to the FAQ page at AllPropertyManagement.com:

 

  1. 60% of U.S. rental housing is owned by individual landlords.
  2. Almost 1/3 of all U.S. housing is rented.
  3. Almost 60% of all housing is detached single family homes.
  4. There are over 115,000,000 housing units in the United States.


Now let’s discuss the PROS of leasing an apartment or home via a property management company:

  1. Size. If renting in a professionally managed apartment community, you can pretty much expect the best in amenities, such as pools, fitness centers, laundry rooms, and so on. These properties also tend to be larger, with dozens or even hundreds of apartments in one community.
  2. Chances are there is a full-time maintenance professional on call. This also could apply if you’re renting a home – many property management companies have maintenance professionals on their payroll who attend to tenants’ needs when a home needs repair.

 

The PROS of renting from a private individual:

  • If you really want a personal touch, this may be the way to go. After all, your landlord will know the property inside and out (since he or she may have live there at one time) and will have a true and long-standing interest in ensuring the property is well maintained.
  • Want to paint the walls or do some other home improvements? Be a good tenant, earn the trust of your landlord, present a good case why you can and should do the improvement, and you very well may get the OK.
  • Come upon hard times? If you’ve been a great tenant for several months and suddenly find yourself in financial difficulties, you may be able to negotiate a more flexible rental agreement, or keep your rent from going up, or some other agreement based on the good relationship you’ve built with your landlord.

 

The CONS of leasing from a property management company may include:

  • Chances are you won’t get much wiggle room regarding the terms of your lease and the rules/regulations you’ll have to follow as a member of the housing community.


The CONS of leasing from an individual:

  • Beware of landlords who say you don’t need to sign a leasing agreement. A lease agreement protects you as much as it does your landlord.
  • Ask for references from current and past tenants. If the property owner refuses to give you these, that’s a real red flag.
  • If your landlord lives far from the property, will he or she be available to fix things when they break? If not, and if the landlord doesn’t have someone on call 24/7, could you live without air conditioning for two weeks in July or heat for several days in January?
  • If your oven or refrigerator “dies” but the landlord doesn’t have enough cash flow to replace the appliance, how will the landlord handle this? What will you do while he or she finds a solution?
  • What if the landlord sells the property in a few months or a year or so? Can you handle that?

 

Actually, property owners of condos and single-family homes, etc. tend to hire a property management firm to handle all the many tasks that come with leasing out their property. Many of the homes you see on Houston rentals sites or the websites of property management companies are owned by individuals. It’s the exception to see a single-family home or condo listed for rent that’s not actually a private property.

 

After all, leasing a home to tenants is a complicated process. A property owner must do due diligence (conduct background and credit checks, etc.) on potential tenants. The property must be maintained and repairs made in a timely fashion. Many property owners feel the fee they pay a duplex leasing company is well worth it as it saves them much time and even money in the long run.

 

Bottom line? We think leasing from a professional property management firm is the way to go, whether you’re looking at single-family home, condo or town home leasing sign on with a company such as In the Loop Properties and you can rest easy that:

 

  • Property maintenance will be completed regularly and thoroughly
  • Repairs will take place quickly and fully
  • Amenities (pools, fitness centers, laundry rooms) most likely will be plentiful


In the Loop Properties: Professional Property Experts with the Personal Touch

Whether you’re looking for a house or an apartment, we make every effort to ensure that we find you, our valued client, the perfect home to fit your needs and budget. Contact one of our leasing agents today!  713.521.7368