Houses for Rent by Owner in Chicago: 3 Reasons to Choose a Private Landlord over a Rental Management Firm
One of the biggest dilemmas in the rental world is choosing the ideal landlord. Is it going to be renting from a property management firm or will you search for private landlord listings?
The Differences Between Renting From a Property Management Firm and Renting From a Private Landlord
Property management firms are ideally known for their prompt services such as repairs, especially given the fact that they have the resources to conduct major fixes and repairs on the property. However, there can be serious risks associated with dealing with bad property management firms. They do their best to provide a professional approach to renting and are very clear with their policies and procedures. On the downside, you would rather not get yourself in a situation where you will be in a legal battle with them. If you are caught with the wrong rental management firm, chances are that you will be in for a tough ride and will probably have to get involved in litigation to resolve matters.For rent by owner Chicago versus for rent by property management firm
3 Reasons to Rent Directly from a Private Landlord
Now, if you prefer a more flexible approach, a personal connection, and rapport with your landlord, look no further than private landlords renting apartments, or private landlord listings on various websites.
Though we have all heard of nightmare situations that can arise with the wrong private landlord, renting directly from the owner of a rental unit is becoming increasingly the go-to option for many reasons. - Hence, search queries like “Apartments for rent by owner”, “Houses for rent near me by owner”, “and other related search terms are quickly growing, especially in bigger cities.
If you are looking for rental listings in Chicago and you search, “for rent by owner in Chicago”, “Private landlords Chicago Westside” etc. you are bound to see that the most affordable units are from a private landlord. This is usually the case because unlike Property Management Firms that need higher rents to turn a profit, and pay employees, a private landlord usually will not have such overhead and concerns. Better yet, if the landlord is known to you through personal connections, you can always negotiate further rental discounts or bonuses. If you’re on a budget and are looking for houses for rent in Chicago under $800 for example, be sure to check out our listings!
Being flexible and not always doing things by the book can be another reason why people might prefer an individual landlord. In most private landlord listings, the landlords might be strict in stating that they don’t want smokers, want payments on time, no pets etc., but very often they tend to be flexible if the tenant has been paying on time, not loud, and is generally a good tenant etc.
3. Ease of Legal Action
If you know your tenant rights, responsibilities, and ordinances well and have done your homework, you should not fear renting from a private landlord. Make sure you follow the rules and you can avail yourself of more benefits than from a Property Management firm. Now most likely, when things do go bad, and you have a dispute with your landlord, suing an individual is usually much easier than suing a property management company; especially if they are reputable and have a team of lawyers and advisers behind them.
With the growth of social media and landlord review websites, the concept of trusting and interacting with a private landlord has become much simpler and transparent. Yes, there will always be surprises that can come your way if you’re not careful, but generally, you now have the flexibility to do a background check on the landlord beforehand. It is also in the landlord’s best interest to be good to tenants, especially if they have an online presence, and they know that disgruntled tenants can leave bad reviews and comments. Do keep in mind to always write factual reviews about your landlord. If not, you risk ending up in court for defamation.ratemylandlord.com is a free platform where you can review your landlord or view ratings of other landlords.
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