What is a Landlord?
A landlord is someone who owns a property and leases it to a tenant. In Edmonton, landlords and tenants are governed by the Alberta Residential Tenancies Act.
Real Estate Agent Explains Landlords
Landlords are the owners of the land or building that is leased, but they may not always manage the property itself. Often times, professional property managers take care of day-to-day operations and the landlord pays them for their services. Even so, landlords are the ones who must adhere to the laws governing landlord and tenant relations. It is also important to note that there are different rules for landlords and tenants when condominium owners rent their units.
Why Does It Matter?
There are two direct ways to invest in real estate: one is to flip a property and the other is to become a landlord (see Two Ways To Invest In Real Estate). Being a landlord can be extremely lucrative and is often seen as one of the safest investments one can make over the long term. Edmonton real estate investors can contact the Landlord and Tenant Advisory Board about courses and services for landlords.
If you’re looking to invest in real estate in Edmonton, please contact me to help.
