I take issue with the term "slumlord" and here is why

General Landlording & Rental Properties
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I take issue with the term "slumlord" and here is why

Kimberly Kesterke
Investor · Marietta, GA · Member since 2016 · 98 posts · 168 votes

Landlords have a noble mission. We provide safe and clean housing to our tenants, keep homes maintained and reasonably respond to our tenants requests. We provide housing options so that the government doesn’t have to. We build profitable portfolios that employ handyman, electricians, framers, dry wallers, plumbers, roofers, cleaning crews and real estate agents.

We take dilapidated homes and transform them into clean, safe, live-able spaces that create homes for people who either cannot afford a home or chooses to rent. This helps improve the landscape of the local neighborhood and increase property values for everyone who lives there.

We take on all the risk- we keep the water heaters running, HVAC repaired, plumbing working and toilets flowing. We set proper boundaries to our tenants with the expectation that rent is paid on-time- not only helping them make financially wise decisions, but when the proper programs are in place- you can help boost tenant’s credit scores with positive on-time payment reporting.

And yes, we deserve to make healthy profits in doing so.

So next time you hear some jacka@@ referring to landlords as slumlords- share this sentiment. Stand in your power knowing you are providing something that the government simply can’t do well. Know that you as a private citizen are adding tremendous value to your community.

And for goodness sake- please screen your tenant’s properly. You can’t be a slumlord if you don’t rent to unqualified tenants. Stick to your screening procedures and don’t second guess yourself.

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Joe P.
Philadelphia, PA · Member since 2017 · 824 posts · 1k+ votes
6y

My father (who I don't have a great relationship with) called me a slumlord last Thanksgiving. Twice.

I politely reminded him that I took the knowledge I've gained to try and build a better life for me my wife. And that I would live in a property I buy, because I think that's important. And I told him my property rents were $1000 each, which I thought to be quite a bit of money, so I don't consider that a slum.

It was all the justification I needed -- I'm doing something that an armchair investor (or non-investor) would poo-poo. I could be a failure, but my rear-end is off the couch trying.

I think if you're called a slumlord, its for 3 reasons -- someone is jealous, someone has a bad landlord experience, or you may actually be a slumlord. I can't control the first two.

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  • Larry Alexander
    Fort Collins, CO · Member since 2019 · 158 posts · 117 votes
    6y

    OMG - You just called me a jacka@@! You didn't have to get personal y'a know.

    I've seen landlords described on here who fit the description of slumlord, so they do exist. Seems like an apt term in such cases. I like the term personally. I find it humorous and charming in a way. I wouldn't use it to brand all landlords, but I do use it among friends; "How's your slumlording business going". "What do i do? Why I'm a slumlord of course. Can i get you another beer?"

    I wouldn't use the term around everybody of course. Being such a crack judge of people I'm sure i would have figured out early that it wouldn't be prudent to use the term around... say people like you?

    I'm big on the 1st amendment. I don't think any word should be banned, but rather used judiciously.

    Hey, I think slumlords are so stuck up that they act like they own the place! ;-P

    Now I'm thinking of updating my profile  :-O

    10Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    6y

    There is a big difference between a landlord and a slumlord. Sure, some tenants don't get it, but other landlords do. If you don't care about your tenants at all and don't do the upkeep on the property or respond to their calls, that fits being a slumlord. If you have a good relationship with your tenants, it's unlikely they will refer to you as a slumlord. Sometimes I've heard it in reference to someone who own a large amount of units and is never there, which may or may not qualify depending on what management they have in place. So, as a landlord I don't mind the term slumlord because I know who it is referring to.

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    12Reply
  • Quincy Lockett
    South Holland, IL · Member since 2017 · 376 posts · 432 votes
    6y

    @Kimberly Kesterke

    What I’ve learned in my 19 years of landlording, if you own rental properties in lower income neighborhoods you will be labeled a “slumlord” by friends, family and strangers. As you’ve mentioned, the government can’t provide the housing so they incentivize (tax law) us to do it.

    I’ve learned that those who use that term inappropriately have no idea how much the service we provide is needed and what we endure to maintain these older properties and the most challenging tenants (lower income). It is by far the most difficult space as an investor to be in but the easiest to enter

    .

    5Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y

    @Quincy Lockett

    " It is by far the most difficult space as an investor to be in but the easiest to enter"  and many who enter LL don't understand this until they are already in the game and then figure out hey this not much fun LOL.. 

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  • Joe P.
    Philadelphia, PA · Member since 2017 · 824 posts · 1k+ votes
    6y

    My father (who I don't have a great relationship with) called me a slumlord last Thanksgiving. Twice.

    I politely reminded him that I took the knowledge I've gained to try and build a better life for me my wife. And that I would live in a property I buy, because I think that's important. And I told him my property rents were $1000 each, which I thought to be quite a bit of money, so I don't consider that a slum.

    It was all the justification I needed -- I'm doing something that an armchair investor (or non-investor) would poo-poo. I could be a failure, but my rear-end is off the couch trying.

    I think if you're called a slumlord, its for 3 reasons -- someone is jealous, someone has a bad landlord experience, or you may actually be a slumlord. I can't control the first two.

    32Reply
  • Kimberly Kesterke
    OP
    Investor · Marietta, GA · Member since 2016 · 98 posts · 168 votes
    6y

    @Larry Alexander Great response. Glad to hear your perspective. lol

    0Reply
  • Kimberly Kesterke
    OP
    Investor · Marietta, GA · Member since 2016 · 98 posts · 168 votes
    6y

    @Joe P. Keep up the good work. I'm with you - taking action is key

    1Reply
  • Nik Corbaxhi
    Rental Property Investor · Stratford, CT · Member since 2019 · 154 posts · 115 votes
    6y

    Does not bother me one bit. Have yet to have someone refer to me as a slumlord, but I would probably laugh it off. I am always doing the right thing, and going above and beyond to be anything and everything to fit the @Kimberly Kesterke's description of a landlord. Being courteous and taking care of business has made this experience pleasant for me so far. 

    4Reply
  • Quincy Lockett
    South Holland, IL · Member since 2017 · 376 posts · 432 votes
    6y

    @Jay Hinrichs

    Yes. This is why I’m selling all of them and “moving on up to the East side.”

    0Reply
  • Benjamin Dutil
    Rental Property Investor · Windham, ME · Member since 2017 · 60 posts · 22 votes
    6y

    @Kimberly Kesterke

    I completely agree with you. I take my portfolio and my tenants seriously and always have gone above and beyond to provide great service. It one thing if a friend is jokingly saying that to me versus someone who doesn’t have a clue about my properties. Instead I take it with a grain of salt. Some people assume that if you own apartments you are rich and/or taking advantage of the tenants. Walk in my shoes for a day and I bet they will have a different opinion of our business. Ultimately I know what I do and know the value of those things to my tenants (clients!) Some people will always try to tear you down probably with a lot of jealousy for not taking those risks! Stand tall and only you know your true level of integrity!

    3Reply
  • Patrick M.
    Rental Property Investor · Red Bank, NJ · Member since 2017 · 1k+ posts · 1k+ votes
    6y

    I could care less about "slumlord." I have only heard it in joking terms.

    I am more acutely aware of the recent disdain in the media and government for landlords en masse. That is where the fight is.

    7Reply
  • Michael Ealy
    Developer · Cincinnati, OH · Member since 2018 · 1k+ posts · 3k+ votes
    6y
    Originally posted by @Kimberly Kesterke:

    Landlords have a noble mission. We provide safe and clean housing to our tenants, keep homes maintained and reasonably respond to our tenants requests. We provide housing options so that the government doesn’t have to. We build profitable portfolios that employ handyman, electricians, framers, dry wallers, plumbers, roofers, cleaning crews and real estate agents.

    We take dilapidated homes and transform them into clean, safe, live-able spaces that create homes for people who either cannot afford a home or chooses to rent. This helps improve the landscape of the local neighborhood and increase property values for everyone who lives there.

    We take on all the risk- we keep the water heaters running, HVAC repaired, plumbing working and toilets flowing. We set proper boundaries to our tenants with the expectation that rent is paid on-time- not only helping them make financially wise decisions, but when the proper programs are in place- you can help boost tenant’s credit scores with positive on-time payment reporting.

    And yes, we deserve to make healthy profits in doing so.

    So next time you hear some jacka@@ referring to landlords as slumlords- share this sentiment. Stand in your power knowing you are providing something that the government simply can’t do well. Know that you as a private citizen are adding tremendous value to your community.

    And for goodness sake- please screen your tenant’s properly. You can’t be a slumlord if you don’t rent to unqualified tenants. Stick to your screening procedures and don’t second guess yourself.

     Agree with you 100% that the real landlords are not slumlords.

    However, I love slumlords :)

    The reason why I became successful at this (and now have a portfolio of 1,000 apartment units) is I would take a property from a "slumlord" and put in the work and money to make it nicer than the other apartments in the area. I renovate a property in a "C" area and make it look like it's in a "B" or even an "A" area. By doing so, I am able to charge higher than market rents - in fact my buildings usually have the highest rents in the area.

    So if others call you a slumlord, ask them if they know of other slumlords. You might buy buildings from the people you get referred to :)

    6Reply
  • Dan H.Pro Member
    Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
    6y
    Originally posted by @Kimberly Kesterke:

    Landlords have a noble mission. We provide safe and clean housing to our tenants, keep homes maintained and reasonably respond to our tenants requests. We provide housing options so that the government doesn’t have to. We build profitable portfolios that employ handyman, electricians, framers, dry wallers, plumbers, roofers, cleaning crews and real estate agents.

    We take dilapidated homes and transform them into clean, safe, live-able spaces that create homes for people who either cannot afford a home or chooses to rent. This helps improve the landscape of the local neighborhood and increase property values for everyone who lives there.

    We take on all the risk- we keep the water heaters running, HVAC repaired, plumbing working and toilets flowing. We set proper boundaries to our tenants with the expectation that rent is paid on-time- not only helping them make financially wise decisions, but when the proper programs are in place- you can help boost tenant’s credit scores with positive on-time payment reporting.

    And yes, we deserve to make healthy profits in doing so.

    So next time you hear some jacka@@ referring to landlords as slumlords- share this sentiment. Stand in your power knowing you are providing something that the government simply can’t do well. Know that you as a private citizen are adding tremendous value to your community.

    And for goodness sake- please screen your tenant’s properly. You can’t be a slumlord if you don’t rent to unqualified tenants. Stick to your screening procedures and don’t second guess yourself.

    What you describe I would not refer to as a Slumlord.  But there are plenty of Slumlords.  To me it is not mostly associated with the class of property, but the behavior of the LL.  Slumlords defer maintenance.  They often have rents below market so that their tenants will not complain about a broken furnace that does not get repaired or having to run an extension cord to the refrigerator because the circuit needs to be replaced but the panel is so old the circuit cannot be replaced.  They can have a tarp on the roof due to a leak for over a year.  They can have a broken window for multiple years.

    Each of the items I listed I have seen from Slumlords in our primary market (C- to B- area, but high appreciation area).  After rehab, our units are solid B.  Granite counters, décor electrical, nice flooring, nice ceiling fans, etc.   I desire to improve the area, the Slumlord does not care about the area.  They only care about their finances.  The sad part is if they improved the area, they would likely benefit financially more than being a slumlord.

    5Reply
  • George W.
    Investor · NJ · Member since 2018 · 869 posts · 921 votes
    6y

    Having worked as a plumber thats in and out of hundreds of apartments a year, I can attest that there are landlords who are good people and take excellent care of their apartments/tenants and really go above and beyond. 

    There are also ones who fit the slumlord role perfectly. Usually slumlords are the ones complaining about needing repairs because they dont allocate in budgets very well. They also attract the worst tenants because they're the only landlords that put up with problematic tennats. Fortunately they usually end up only owning 1 or two buildings at most.

    3Reply
  • Account Closed
    Rental Property Investor · Central, FL · Member since 2016 · 950 posts · 821 votes
    6y

    @Kimberly Kesterke well said.  Yes a landlord who doesn’t care can be easily labeled that.  Or as someone said if the person saying it doesn’t understand or is jealous.  I know a few “friends/co-workers” have called me a slumlord and funny enough none of them own any real property.  I just smile and wave... all the way to the bank.  

    2Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    6y

    Been called it a number of times over the years & with our long time niche in C-D-Class properties its somewhat relevant by virtue of the property type. It's never offended me because I retired very early into the under belly of this type of REI, whereas those accusing me of being one worked until forced out into menial part-time work to just get by in their golden years.

    My favorite ... 

                       " It says here you should be in HELL, but since you

                        spent your life as a Landlord, we'll count it as time served"

    6Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    6y

    My slumlord daughter just got this from one of her C-class tenants (single mom of two little girls) after giving them a gift cards for Christmas...

    6Reply
  • Anthony Rosa
    Rental Property Investor · New York City · Member since 2019 · 703 posts · 538 votes
    6y

    If the neighborhood is a slum and you own a property there then it is what it is - People make the difference.  

    2Reply
  • James Free
    Rental Property Investor · Fort Collins, CO · Member since 2015 · 158 posts · 327 votes
    6y

    The standard BP line is that slumlords are "bad landlords" and we should contrast with them. I agree to a point, but being in real estate has shown me that there's another aspect to it - one often reflected in this forum's threads on "bad tenant stories".

    That aspect is: There are really bad tenants in this world. We can talk endlessly about screening, but you can't really protect yourself from them. I see tenant screening advice like "tour their previous residence to see how they live." Is that ever actually feasible?

    Nope, sometimes you get someone who passes all the checks you're allowed to do (and we can do less and less with each new "non-discrimination" law) and still treats the property terribly. And even if you ARE a rockstar screener, those crummy tenants are still going to live somewhere.

    And those owners, whose property they live in? They're slumlords. 

    Slummy tenants guarantee the existence of slums. A landlord can do everything he can to rehab the property, and the tenants will trash it. He can fix it again, and they'll trash it again. They pay $800/month in rent and do $5,000/month in damage. The only way they don't do that damage is if the landlord never repairs the previous damage.

    Ergo, slums.

    We might enjoy sanctimoniously pointing our fingers at the poor suckers stuck in a lease with such people (or trying to evict them, but hamstrung by the laws in a terrible state). We might like to say "I like slumlords because I buy their properties cheap and fix them up!" But if you do that, you start by kicking out the awful tenants.

    And then they go live somewhere else. So long as they exist, they live somewhere!

    Slums are created by their residents more than their owners. We as a society have learned this in the past, but present-day politics want us to forget it. Brandon Turner talks about training your tenants. But there are a lot of terribly-trained ones out there, and many almost seem beyond saving.

    You want to lament the existence of slums? I'm with you. But blaming the owners? Maybe learn a bit more about what's going on first.

    7Reply
  • Nancy P.
    Naperville, IL · Member since 2018 · 330 posts · 357 votes
    6y

    Completely agree with Dan Heuschele. I won't rent a place I wouldn't be willing to live in, in terms of condition.  Might not be the right size or location for me,  but it's clean enough, modern enough, safe enough, convenient enough.  The two properties outside our town---that city inspects every year.  They always give us one-or two year extensions because our properties are to code and well kept.  (We still have to pay the licensing fee of course.)  And I don't agree with OP's last point. It's not the choice of tenants,  it's the attitude of the LL.  I have jokingly been called this when all but two of our properties are in the most affluent town in the Midwest.   The other two are just across the border into the next town.  I got called names for "snapping up"  foreclosures in 2010.  I patiently explained to such people that investors buying foreclosures was a huge part of the recovery.  Two people actually then apologized to me. Lastly,  I have never really cared what other people thought of me.  It's a useful trait.


    1Reply
  • Steve B.
    Engineer · Portland, OR · Member since 2014 · 1k+ posts · 1k+ votes
    6y

    @Kimberly Kesterke. There are some real slum lords out there, and they are doing a good service by renting to a terrible class of tenants that taxpayers might otherwise have to support

    6Reply
  • Kimberly Kesterke
    OP
    Investor · Marietta, GA · Member since 2016 · 98 posts · 168 votes
    6y

    @Nancy P. great points. Thank you for sharing. I think a lot of it has to do with the Landlord but I have to be honest- I screened poorly on some tenants and they completely trashed one of my properties. And then complained to me they had roaches and the place was run down. When we went to inspect the property- they had taken down all the blinds, holes were everywhere - seriously- everywhere. I can only imagine what had to happen to create all those holes in the walls- roaches in their cabinets- and not for lack of treatments but there were literally crumbs everywhere! I guess it was a major learning experience for me. When they moved in the place was nice and clean. My fault for not screening properly, but will be more aware on the next ones.  They have since moved out and I’m getting the place turned- to hopefully hand over to a tenant who will better take care of the place. 

    0Reply
  • Nancy P.
    Naperville, IL · Member since 2018 · 330 posts · 357 votes
    6y

    @Kimberly Kesterke:

    In that case they tried to make it a slum...that doesn't make you a slumlord,  especially since you are rectifying the situation as quickly as you can.  Here's one legal definition:  Slumlord Law and Legal Definition. A slumlord is an unscrupulous landlord who milks a property without concern for tenants, neighborhoods or their own long term interests. Slumlords overcharge for property in poor neighborhoods that is kept in poor repair and allowed to deteriorate.

    0Reply
  • John Patton
    Investor · Birmingham, AL · Member since 2016 · 315 posts · 206 votes
    6y

    @Kimberly Kesterke

    I have laughing told people that I am in the TOLIET and TENANT business.

    I also was told more than 50 years ago not

    To lend money or rent to anyone who’s profession starts with a P.

    Preacher -Painter-plumber-physician- policeman and so on.

    Good luck JP.

    0Reply
  • Torrance Jones
    Rental Property Investor · Windsor Mill, MD · Member since 2016 · 25 posts · 18 votes
    6y

    @Joe P. Great Narrative. I’m in the Baltimore area and it is extremely difficult at times but the benefit is even greater. People often say the same to me (slumlord) when I mention certain areas I invest. I also communicate the fact that while being a landlord I also attempt to change the mindset of those individuals who rent from me. Many do not understand that we as landlords serve many roles to our tenants and could potentially indirectly affect the tenants and and their offspring positively...I like you am not as close to my Father and while I would have loved for him to be part of my growth as an investor it just hasn’t happened.....Please continue to fight the good fight and I wish you all the best.

    3Reply
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