Real Estate Word of the Day: Landlord
Posted by Tom Crimmins Realty on
Real Estate Word of the Day: Landlord
A landlord is an individual or entity who owns real estate property and leases it out to tenants in exchange for rent. This arrangement forms the foundation of the landlord-tenant relationship, which is governed by a lease or rental agreement outlining the rights and responsibilities of both parties.
The Responsibilities of a Landlord
One of the primary duties of a landlord is to ensure that the rental property is maintained in a habitable condition. This includes addressing any necessary repairs promptly to uphold the safety and comfort of tenants. Landlords are responsible for collecting rent from tenants in accordance with the terms outlined in the lease agreement. Timely rent collection is crucial for…
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