A landlord is a natural or legal person who owns real estate and then rents it out to tenants in exchange for rent.
The landlord can rent to either residential or commercial tenants depending on zoning restrictions and property type.
Landlords and tenants are bound by a lease, which is a legal contract that defines the rights and obligations of each party.
Being a landlord can generate passive rental income, but it can also come with unexpected costs and unique legal and financial risks.
Landlords are not allowed to discriminate (on the basis of race or sexual orientation), invade property without proper notice, improperly evict a tenant, and raise rent without prior notice.