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Are You an Intentional, Accidental, or Unintentional Landlord? Let's Find Out!
If you’re involved in the world of rental properties, whether you're a seasoned pro or just starting out, you might be surprised to learn that there are actually three distinct types of rental property owners. It's not as simple as "you own a property, you're a landlord." Different paths lead people to rental ownership, each with its own unique perspective and experience.
Recently, I came across some fascinating data that breaks down these different types, and I thought it would be super interesting to share. It turns out, there are:
1. Intentional Investors: These folks are the strategists. They purchased rental property from the get-go as a conscious, deliberate investment strategy. They did their homework, crunched the numbers, and saw the potential of real estate as a way to build wealth. In 2024, they make up the largest share of small-portfolio rental owners, at 54%, and that number is continuing to rise. They’re the ones meticulously planning their next move, always on the lookout for opportunities.
2. Accidental Landlords: Ah, the "by chance" landlords. These owners fell into rental property ownership due to unforeseen circumstances. Maybe they inherited a property, or had to relocate and couldn't sell their home. Whatever the reason, they didn't set out to be landlords and often don't consider themselves “investors” in the traditional sense. In 2024, they make up 25% of rental owners, and although there was an increase in this group entering the market last year, their overall numbers are being outweighed by the number of owners selling off their properties.
3. Unintentional Investors: This is an interesting category that was identified by Buildium in 2018. These landlords, like the Accidental Landlords, fell into rental property ownership due to circumstance, but they now consider themselves investors. They've made the leap from accidental to intentional through a mix of experience, strategy, and market forces. As of 2024, they make up 21% of rental owners, and this number has remained relatively consistent over time.
In 2018, intentional investors only made up 44% of the market, highlighting the increasing prevalence of intentional investing in the sector. And accidental landlords were at a higher percentage back then (32%), showing a gradual decrease over time, perhaps as people are becoming more proactive in their property decisions.
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