Definition of Slumlord
What does the term "slumlord" mean? What is the definition of the term "slumlord"?
A "slumlord" is a negative term for a landlord who attempts to maximize their profits by minimizing their expenses. This generally means that properties fall into a state of disrepair and are in poor or very poor condition.
The slumlord is usually an absentee landlord who owns multiple properties. "Slumlords" will attempt to charge as much rent as they possibly can while minimizing their expenses as much as they possibly can, in an attempt to wring as much profit as possible from the residences that they own. "Slumlords" will often own properties that have shoddy plumbing and wiring, structural issues and other problems. "Slumlords" will usually be very reluctant to fix these problems as they would involve spending a considerable amount of money. "Slumlords" are usually only spurred to act on a problem due to public "shaming" or the threat of some sort of penalty from the city.
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