Be a Landlord

A Landlord is the owner of a house, apartment, condominium, or real estate which is rented or leased to an individual or business, who is called tenant (also a lessee or renter). When a juristic person is in this position the term landlord is used.

Other terms include lessor and owner, the term landlady is used in some jurisdictions for the female owners, otherwise a landlady can still be called landlord.

Landlording may be traced back to the Roman Empire and the manorial system (seignorialism), which began under it - peasants were bound to the land and dependent on their landlords for protection and justice. Under the feudalism such relations became widespread.

Contracts
The two parties step into relationship under the law of real estate property by signing a contract called lease. With this contract the one party, which has superior title to the property, or the landlord, grants possession and use of it for a limited period to the other party, the tenant. The landlord may not be the actual owner of the property but keeping in some way the right to sub-lease.

Rent
A rental agreement, or lease, is the contract defining such terms as the price paid, penalties for late payments, the length of the rental or lease, and the amount of notice required before either the landlord or tenant cancels the agreement. In general, responsibilities are given as follow: the landlord is responsible for making repairs and property maintenance, and the tenant is responsible for keeping the property clean and safe.

Property Management
Many landlords hire a property management company to take care of all the details of renting their property out to a tenant. This usually includes advertising the property and showing it to prospective tenants, and then, once rented, collecting rent from the tenant and performing repairs as needed.