7 Landlord Types
ForeverLandlord.com
7 Landlord Types
Landlord Archetypes
Which type are you?
FYI Landlords,
1. Helicopter Landlord
Nosy landlords that creep around their properties always with some excuse to be there. They care too much about what the tenants are doing and don't value their personal time because they have nothing better to do. They'll mow the lawn, spray for bugs, inspect everything, and perform repairs. They pop by to fix stuff that doesn't need fixing. They check on stuff that doesn't require checking on. They are privacy invaders.
2. Reclusive Landlord
The nonexistent landlord makes you wonder if they're even alive. They're so hands-off that they never do or say anything. They provide you with their name and give you a number they don't answer. The tenants get maximum privacy to do whatever they want if they keep paying rent. These kinds of landlords are so challenging to reach that tenants resort to fending for themselves, or they have to resort to leaving dozens of voicemails and sending countless text messages before eventually getting help.
3. Accidental Landlord
These landlords are winging it and are of the gambling type. They can't afford to hire a property manager. And they have no interest in doing this long-term, so they seek shortcuts and will cut corners wherever they can. They will ask questions online and google all the "how to's." They'll download a free lease and get the first person interested to sign it. They have no idea what they're doing and never realize how close they are to the edge. They usually end up selling out before getting caught accidentally doing something illegal.
4. The Slumlord
Beware and steer clear! These are criminals who give real landlords a bad rap. Slumlords don't invest in the upkeep of their rentals; they won't spend money to resolve problems. Their default is to do the bare minimum with the poorest work ethic; it's almost unbelievable. They lie, cheat, and steal from unsuspecting rental tenants.
5. Mom and Pop Landlord
Out of touch with technology and won't have any systems. They'll insist on speaking with tenants in person to find out who's a good fit. They'll often try to befriend tenants and never raise the rent because they feel guilty and don't want to take advantage of tenants. These landlords are the most likely to be scammed by nightmare tenants who give good excuses for late rent and will stop paying just as soon as they know they can get away with it.
6. REI Property Investor
These landlords are property investors growing a real estate portfolio and outsource their operations to property managers. They like paying middlemen as long as they get the tax perks without actually having to do any work. They don't care about their tenants and are known for trying to save money by hiring low-quality contractors and managers who do cheap work. Quality is not the primary concern—money matters above all else. They aim to hold rentals until they're ready to sell, so they can cash-out one day and retire on the beach.
7. Pro Landlord
These landlords are professional experts, fully committed to being a master at their craft. They do their own management or work closely with a team of professionals of the same caliber. They make it their duty to know the ins and outs of the business. They have fool-proof systems tested and improved upon over the years. They ensure high-quality service to their tenants and use technology for improved efficiency. They have a website and use an ironclad lease with no loopholes or oversights. They know how to anticipate repairs and keep high-quality tenants long-term. They are firm yet fair. They take responsibility for any and all slip-ups. They don't blame their tenants or the market or make up any excuses. They practice extreme ownership and aren’t pushovers.
Sincerely, Rene
Hi, I'm Rene
The Forever Landlord
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