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Factors to consider when looking for Rental by Owner
There are certainly a lot of properties around the country ready to be inhabited by families or individuals who are willing to stay for a given amount of time. Many people usually look for properties for rent through real estate agencies because the people who work for these companies are very much aware of the real estate market and they can also look for suitable properties for your target price range. Although there are a lot of people who find this method advantageous, there are also those people who have found benefits in renting a property straight to the owners. This process is generally called rentals by owners wherein the tenant will communicate directly with the owners of the property without the mediation of a real estate agent. Many of you prefer to rent by owner to skip the fees and the charges incurred by the real estate agencies when you find a property with their help.
When looking for properties to rent by owner, you still have to consider a lot of things before choosing a place. Renting by owner is just like renting through an agency except that you make agreements straight to the owner of the property but you still have to be careful when making decisions.
• Location. The place where you will be looking for property options to rent should be the first one on your list. Renting a property can either be for a vacation, a short stay, or a long term rental and these must be based on the location of the property. For vacations, properties that are right along the beach or the lake are really popular. For long term rentals of at least one year, people usually rent in metropolitan areas where it is close to the school or their work. Consider these facts when choosing a place to rent.
• Type of Property. The type of property that is available should also be looked into. There are those owners who own more than one property and you can ask them what else they have available in that certain area. The most common property types for these rentals by owners are houses but there are also apartments, condominiums, vacation cottages and cabins. This will mainly depend on your preference and the needs that you have with the property.
• Duration. The length of your stay in the property should also be determined. If you are only renting it for a vacation, then you will surely have a defined time as to when you will be coming and the date when you will leave the cottage. But for people who want to rent by owner with an indefinite time, then you may want to ask the owner about his terms and conditions. If this is the case, all of the conditions are usually stated in the contract and the owner will give you a specific amount of time that you can extend per request in the future.