Private Rental Sector

The Private Rental Sector (PRS) refers to housing properties owned by private individuals or companies that are rented out to tenants. It is a key part of the housing market, offering flexible accommodation options for people who do not own their homes. The PRS includes a wide range of property types, from apartments to houses, and typically involves short- or long-term leases. It plays a vital role in providing accessible housing for many, especially in areas where homeownership is less common or affordable. Tenants usually pay rent monthly, with agreements outlining their rights and responsibilities.