The phrase denotes rental housing choices in a selected geographic neighborhood, the place the property is managed by a person relatively than a big company or property administration firm. These leases can vary from single rooms in a shared home to total residences or homes owned and operated by a non-public landlord. As an example, an individual looking on-line would possibly use this expression to find a small house complicated owned by a household or a single particular person managing their rental properties.
In search of housing preparations by way of particular person landlords typically presents distinctive benefits, together with probably extra versatile lease phrases, customized interplay with the property supervisor, and a larger willingness to barter on sure points. Traditionally, many leases had been managed immediately by homeowners, however the rise of large-scale property administration companies has modified the panorama. Regardless of this shift, individually managed properties stay a big phase of the rental market, providing a definite different to company leases.
