PRINCIPLES OF FUNCTIONING AND STRUCTURAL ORGANIZATION OF THE RESIDENTIAL RENTAL MARKET
Abstract
The article provides a comprehensive theoretical and methodological analysis of the rental housing market as a specific segment of the residential real estate system and an integral component of the socio-economic structure. The problem statement substantiates the relevance of studying rental housing in the context of economic instability, labor mobility, and institutional transformation. The literature review summarizes key international and Ukrainian scholarly contributions, highlighting differences in conceptual approaches and identifying existing research gaps in the national context. The main body of the paper clarifies the economic essence of rental housing as a dual-nature good that combines characteristics of both a commodity and a service, where the object of transaction is the temporary right of use rather than ownership transfer. The structural organization of the market is examined through its subjects (landlords, tenants, intermediaries, and supporting institutions) and objects (various types of residential premises suitable for temporary residence). The article differentiates the rental housing market from the housing sales market and from the social housing sector, emphasizing contractual relations, market-based pricing, and functional flexibility. Particular attention is devoted to the system of market functions. Alongside classical economic functions—commercial, informational, price-forming, intermediary, investment, redistributive, and stimulating—the study identifies socially oriented functions, including territorial mobility support, labor market flexibility, temporary housing provision, and adaptive capacity during crises. The role of the rental housing market in regional development and socio-economic stabilization is substantiated. The conclusions summarize the theoretical findings and confirm that the rental housing market should be interpreted as a complex socio-economic system whose efficiency depends on institutional conditions, regional differentiation, and the balance of supply and demand in contemporary Ukraine.
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