In some cases, renters may be looking for a list of houses for rent by owner that may not be professionally managed. 95% of all apartment units within buildings that have 50 or more rental units are managed professionally while roughly 78% of all single family homes are managed by the owner.
List of Houses For Rent By Owner in the United States
Roughly 78% of all single family homes for rent are managed by the owner.
Houses For Rent By Owner
There are advantages and disadvantages of renting a house by owner. These tend to be the same for both short term (weekly) and long term (6 months to > than 1 year) rentals.
Advantages
Owners tend to be more incentivized to answer your phone calls or emails. Unfortunately, roughly 50% of all rental leads for professional property managers go unanswered but this is lower for owners since they may have a big mortgage to pay each month the rental is vacant. On average, it costs roughly $3,000 a month or $100 each day the rental property is vacant. This pain for the owner, can be a huge advantage for you especially in markets where the rental vacancy is high.
The price of the rental may be lower than market because of the urgency of getting the rental filled quickly.
Disadvantages
Some owners tend to be less professional and may not know all of the various rental laws and processes.
The price of the rental may be above market since the owner may not have access to similar property rental comps.
Once you are in the rental, service and response times may vary. Since the property manager is incentivize to get renters in and keep them in, you tend to see better service with professional property managers.
Service response times may be slower for owners than property managers because managers tend to have onsite or a network of professional plumbers, electricians and carpenters to help fix things when they break.
Go ahead and search for houses for rent by owner and property managers and find a rental you’ll love.
