A landlord is a real estate owner who rents or leases land or a building to another party. Becoming a landlord can be a profitable venture because it can provide a steady income stream while the property (ideally) appreciates in value. In addition, you may be able to enjoy certain tax advantages. Because of the time and money involved in purchasing, maintaining and renting property, however, the decision to become a landlord should be exercised with caution. This guide will cover the most important aspects of becoming a landlord – from finding reliable tenants to hiring a property manager.