Properties in Burbank offered under a rental agreement constitute a significant portion of the city’s housing market. These dwellings, ranging from single-family houses to apartments and condominiums, are available for occupancy by individuals or families in exchange for periodic payments to the property owner or their designated representative. An example would be a three-bedroom house in the Rancho area offered with a twelve-month agreement.
The availability of residences under these arrangements provides flexibility for individuals relocating to the area for employment, education, or other reasons, without the commitment of a purchase. These agreements also offer an avenue for property owners to generate income from their assets. Historically, the prevalence of such offerings has been influenced by economic conditions, demographic shifts, and local housing policies, playing a crucial role in the overall housing ecosystem of the city.
