It has been a while since the tittle “Rental flat from a direct owner” has been much appealing rather than the flat itself!
Well let’s see what are the consequences you shall face while renting from a direct owner rather than a licensed real-estate agency :
1-Risk of not being an actual Owner :
It happens may times while you rent a super nice flat with quiet cheap price from a total random person and later it turns out this was a total fraud.
2-Some flat owner never pays taxes :
Well let’s put it in this way; if an owner pays the taxes, they would pay the realtor to do a professional job as well.period.
3-Most of the owners are disqualified to manage a flat :
Well that comes right on the table if anything goes wrong in the flat, from changing a bulb till pimp breakages. Realestate companies always have good handful of handymen and repair companies.
4-Tenant/Owner communication :
The Flat owners job is most of the time not renting the flat itself! that means they have very limited free time to communicate with the tenants and take care of their needs and requests. while a property company takes action promptly as that’s their job!
5-Owner does not speak English :
This is one of those very common problems tenants have in Europe Specially here in Budapest. The Hungarian owner finds a tenant via help of a friend who speaks English but later they are unable to keep track and help them tenant.
6-Wrong/dishonest primary information :
Some owners give wrong or dishonest information about the utility fees while after a while the tenant receives big bills. this never happens with Property managements as the obey systematic management rules; plus they hate headaches, so they give all the honest and correct information.
7-Unoffical contracts :
Contracts done unofficially means nothing when it comes to the problems.
A strong contract which protects not just an Owner but a tenants as well, must have been prepared via a realestate qualified lawyer.noting that each contract is different from another according to the information and different parts.
8-Deposit pay back :
Has any one of you seen this part being clearly spoken in any contract done by direct owners?i haven’t.
9-Do’s and Don’t :
There are strict regulations in a tenancy and law has been directly noted.
Have you ever heard when an owner just entered your friend’s flat without any notice? well that calls robbery at some points.
That’s exactly what a management property company will never do for example!
10-Stingy Owner, making fiction about realtors :
Realestate is a Profession .
Nowadays for being a realestate agent you must pass a 6 month course with years of experience, good knowledge of computer and great communication and language skills plus having a degree is a must, meaning that realtors are educated .
It takes a decade sometimes for a realtor to gain what it takes to be an actual realtor.
While some owners make fictions and lie, for what? for not paying a simple commission and turning the public idea agents realtors.
Always Seek Help From a Professional; In Every Aspect of Your Life.