Did you know that individual landlords own 41.2% of all rental units?
Ready to take the plunge into the exciting and sometimes lucrative world of becoming a landlord? Congratulations!
But with so many different types of landlords out there, it can be hard to know which one is right for you.
From managing your properties or hiring a property manager to rent single-family homes versus multi-family units - it's all crucial information as you embark on this new venture.
Keep reading and let us help lighten that load with our quick guide on what each type entails, so bagging some keys becomes an informed decision instead of just guesswork!
Professional Landlord
Some people like buying property. They use their money, experience, and knowledge to buy multiple properties at the same time. This makes them more money by renting out the houses they own. They usually specialize in one type of house like single-family homes.
Their landlord qualities and expertise allow them to make money while providing high-quality living spaces for tenants across the nation - making a successful landlord an integral part of our cities' economies.
Accidental Landlord
Sometimes life takes unexpected turns. This can lead to someone having to rent out a house that was not meant for that purpose. Maybe they had to move for work or something else.
These people now own a rental property and need help getting it ready for renters.
Corporate Landlord
Corporate landlords are a great option for renters seeking flexibility and competitive rates. With their increased scale, they can provide clarity when it comes to terms and conditions while still maintaining the same high standards of maintenance across multiple properties nationwide - or even internationally!
Private Landlord
Private landlords rent out homes or apartments. They are different than other rental places because they have more flexible rules. This can make renting from them cheaper.
These agreements let people change the space they rent. Both sides have to agree and it is a good deal because it is not very expensive but still secure.
Institutional Landlord
Institutional landlords help people find places to live. They look after lots of rental units and make sure they are in good condition. They also provide services like maintenance and insurance protection.
They are especially helpful for students or people with low incomes who cannot afford other housing options.
Get Help Becoming a Landlord
Are you considering taking the plunge into real estate investment and becoming a landlord? Let Laureate Ltd. help make your dreams become reality!
Our expert advice, coupled with practical solutions tailored to landlords like yourself, can assist in attaining success as an investor—all within reach of a phone call away!
Make sure you don't miss out on this rewarding experience; contact us today for more information about how we can equip you with everything needed to take control of your rental market adventure.
