Individually owned residential dwellings leased to tenants represent a significant portion of the housing market. These residences, managed directly by their owners, offer a range of housing options, from single-family homes to condominiums and apartment units. For instance, a family might lease a townhouse directly from its owner, bypassing a property management company.
This segment of the market offers potential advantages for both tenants and landlords. Owners often maintain closer relationships with their tenants, potentially leading to greater flexibility and responsiveness. This direct connection can facilitate clearer communication and faster resolution of maintenance issues. Historically, this type of landlord-tenant relationship was the predominant model, and it continues to play a vital role in providing housing options, particularly in areas with less institutional investment. It also allows individuals to build wealth through real estate investment and offers a more personalized approach to property management.