If you’re a renter looking to rent a home in 2017/18, there are some pretty important facts to consider. If you’ve rented before, you should be all too familiar with the impersonal and expensive rental process. Apartments make up the majority of the rental industry, and these buildings are usually owned by large corporations headquartered in a different state from the one you live in.
These companies mostly operate the same way; tenants are given stacks of paperwork that include pre-printed lease agreements, addendums, and other documents full of legal clauses and regulations that limit the amount of freedom you have in your home and allow the property’s management company to add nasty surprises to your monthly rent payment in the form of fees and fines!
Although an apartment might seem like your only choice when looking to rent a home, you should know that there are bound to be hundreds of homes listed for rent by owner (FRBO) that are just waited to be seen! These homes come in many shapes and sizes and include single family homes, condominiums, townhouses and more.
There are incredible benefits to renting a home directly from a homeowner that rental communities might not want you to know about:
More home per dollar than rental units – in markets similar to South Florida, single family homes with 3 bedrooms cost less in monthly rent than 3 bedroom apartments.
Rent on your terms – since the home is owned by one person instead of a company, you can work with the owner to craft a lease agreement that works for both of you.
No surprise fees – renting from an owner means you won’t have to pay for parking permits, administrative fees, etc.
The key to maximizing your savings while renting a home is to ensure that the home is listed FRBO (for rent by owner). This means that the homeowner is looking to deal directly with prospective tenants like you. The FRBO and FSBO (for sale) process are the most organic forms of real estate and don’t include middlemen or commissions. This allows the homeowner to save money and gives you, the renter, greater leverage when negotiating the terms of your lease including the monthly rent total.
Beycome.com is the best place for you to start your FRBO journey. Even if you don’t find the perfect home for rent in your area, you can still use our tools to help you work directly with homeowners to reach the best deal possible!