Landlords are important because they offer an option for those that may not want, or be able, to purchase a property on their own.
Landlords have a legal obligation to ensure all relevant laws and regulations regarding their rental property are followed. This includes laws that govern tenant rights, security deposits, notice periods, rent increases, and property maintenance.
Some landlords may also act as real estate investors, using their existing properties as leverage to purchase additional properties and build their portfolio. This removes available properties from the real estate market and lessens the supply available to homebuyers looking to purchase a home to live in.