Although there is no formal definition for FRBO or For Rent By Owner–its name is rooted from FSBO or For Sale By Owner. FRBO is when a property owner decided to rent out their property privately without aid of a Realtor or sales representative. This trend is increasingly popular as more and more people invest in properties and need to rent them out as rental units providing a secondary income. Although this term is not well known, it will have increasing popularity as landlords and property owners use this route as the rental market increases in Canada.
An article shows a housing report ranks Peel among the least affordable rentals units in Canada. Lack of affordable housing creates a gap in Mississauga Ontario for FRBO’s to create a niche market where social housing cannot be provided. Click here to read the article.
To begin your FRBO account and start renting/leasing out your property click here.
