[redwitch]

I'd say that the risk of the rental not being by the owners is slim (not non-existent, but slim). The bigger risk is that the property is not as advertised -- many pictures are old, out of date. The property may not have been maintained as promised. I know of one renter that requested that the homeowners get someone to take pictures of the interior with a newspaper showing that day's headlines so that they knew the property was as advertised.

I also know of at least one instance where renters paid their deposit and the agent (a franchise of a national real estate company) renting the property went out of business, keeping the deposits (and sometimes the full rental amount). Some of the homeowners were gracious enough to let the renters still have the property without having fork over additional funds. Some told the renters they were sorry but they needed to get the funds. It was not a pretty situation for anyone.

However, these are truly isolated. If you find a property in a for rent by owner site, you will usually find someone renting their home until they're ready to move here. The properties are in great condition and very nice.