Individually owned residential dwellings leased to tenants constitute a significant portion of the housing market. These accommodations, ranging from single-family homes to condominium units, offer tenants an alternative to homeownership or larger corporate-managed apartment complexes. For example, a family might lease a townhouse directly from its owner rather than a property management company representing a large investment firm.
This segment of the rental market offers distinct advantages for both tenants and landlords. Tenants often benefit from personalized service and direct communication with the property owner, potentially leading to greater flexibility in lease terms and more responsive property management. Owners, in turn, retain greater control over their investment and can build direct relationships with their tenants. Historically, this type of landlord-tenant relationship has played a vital role in providing housing options, particularly in areas where large-scale developments are less prevalent.
