Landlord(redirected from landlady)
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A person who owns real estate and rents it to someone, allowing the renter to live and/or use the real estate in exchange for a fee. The fee is also called rent and is usually paid once per month. In exchange for the rent, the landlord is responsible for the basic upkeep of the property. For example, if the roof collapses, the landlord, rather than the renter, must pay for it. Landlords usually may not deduct the interest they pay on the mortgages of their properties from their taxable incomes, but the rent can provide a steady income with little or no actual work. A female landlord is called a landlady. See also: Passive income.
The owner of property rented to another. The landlord's interest is called a reversionary interest, while the tenant's interest is possessory.