Difference Between Similar Terms and Objects

Difference Between Landlord and Owner

With the increase in industrialization and development, a lot of focus has been placed on acquiring and maintaining the ownership of assets, be it land, estates, and other property. It is hence prudent for the masses to be educated on the different types of ownerships including sole ownerships, joint tenancy, and community property, not to forgetting tenancy in common.  Various terms are used in this context, such as landlord and owner. Although they may be used to mean the same thing, they have some differences.

 

Who is a Landlord?

This is a person who owns property, be it apartments, houses, land or real estate that is leased or rented to other parties, commonly referred to as tenants.

 

Who is the Owner?

This is a person who has full control and rights over an object, property, land or intellectual property. The process of ownership arises from a transfer, gain, and loss of ownership. Property can be acquired through transfer of ownership, actual purchase, inheritance, gifting. 

 

Similarities between Landlord and Owner

Both are used in reference to processing something

 

Differences between Landlord and Owner

Definition

A landlord is a person who owns property, be it apartments, houses, land or real estate that is leased or rented to other parties, commonly referred to as tenants. On the other hand, an owner is a person who has full control and rights over an object, property, land or intellectual property.

Context

While landlord is used in reference to property ownership, the term owner is used in reference to any object and is not limited to property.

Landlord vs. Owner: Comparison Table

 

Summary Landlord vs. Owner

While a landlord is a person who owns property that is leased or rented to other parties, an owner is a person who has full control and rights over an object, property, land or intellectual property .It is hence important to define control and ownership over any property as it not only prevents possible conflict among other interested parties but is also significant in tax reporting.

 

Tabitha Njogu

Tabitha graduated from Jomo Kenyatta University of Agriculture and Technology with a Bachelor’s Degree in Commerce, whereby she specialized in Finance. She has had the pleasure of working with various organizations and garnered expertise in business management, business administration, accounting, finance operations, and digital marketing.

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References :


[0]Image credit: http://www.thebluediamondgallery.com/handwriting/images/owner.jpg

[1]Image credit: http://www.thebluediamondgallery.com/wooden-tile/images/landlord.jpg

[2]Shapiro Peter. The Good Landlord: A Guide to Making a Profit While Making a Difference. BookBaby Publishers, 2016. https://books.google.co.ke/books?id=_NpcDQAAQBAJ&printsec=frontcover&dq=Difference+between+landlord+and+owner&hl=en&sa=X&ved=0ahUKEwi35uzM-8fiAhWCyoUKHTVLB-EQ6AEIMDAB#v=onepage&q=Difference%20between%20landlord%20and%20owner&f=false

[3]Burrel Jamaine. The Rental Property Manager's Toolbox: A Complete Guide Including Pre-written Forms, Agreements, Letters, and Legal Notices : with Companion CD-ROM. Atlantic Publishing Company, 2006. https://books.google.co.ke/books?id=cXYLSZKZt2sC&pg=PA55&dq=Difference+between+landlord+and+owner&hl=en&sa=X&ved=0ahUKEwi35uzM-8fiAhWCyoUKHTVLB-EQ6AEIQjAE#v=onepage&q=Difference%20between%20landlord%20and%20owner&f=false

[4]Portman J & Stewart M. Leases & Rental Agreements. Nolo Publishers, 2017. https://books.google.co.ke/books?id=WBw0DwAAQBAJ&printsec=frontcover&dq=Difference+between+landlord+and+owner&hl=en&sa=X&ved=0ahUKEwi35uzM-8fiAhWCyoUKHTVLB-EQ6AEIKDAA#v=onepage&q=Difference%20between%20landlord%20and%20owner&f=false

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