What are Private Rental Properties

What are Private Rental Properties

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What are Private Rental Properties
Property rentals can come in two forms: a public property rental or a private property rental. A public property rental is more common, and considered more legitimate, through the incorporation of a company that owns real estate. Typically, if an individual rents an apartment in a major city, the building and the apartments within that building are owned by a major real estate company. 
 
 
The company controls all aspects of the building and the renter will pay his/her rent to an employee hired by the company. A public property for rent will be controlled by the company that owns the property; the majority of maintenance and all amenities will be controlled by the controlling agency. Any complaints that a resident may experience must be filed through the agency itself or an employee of the building. Now in contrast, a private property rental is done between two private properties, meaning two people or groups of people that agree on a rental price of a piece of property.
 
 
A private property for rent occurs when an individual or a group of individuals purchase a house, apartment, or condo and then lease the property out to a willing renter. A private property for rent, in theory, is an effective transaction for both parties. For the renter, the individual obtains a piece of property or a dwelling, without garnering any susceptibility to the frailty of the housing market. Additionally, the renter also obtains a place to live without fear of having his/her rent fluctuate--typically in private property rentals the amount of rent is negotiable. 
 
 
On the flip side, the person renting out the property will obtain monthly payments and income from the party renting his/her place. That being said, the person renting out the party does face risks such as a default of payment, however, a proper background check and an incorporation of a renting agency could quell this problem.
 

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