["City & Community, Volume 19, Issue 4, Page 1011-1037, December 2020. ", "\nAbstract\nLandlords are important gatekeepers in the rental market, and scholars have studied landlord perceptions across different markets. But differences between landlord logics within a market, which drive landlord behaviors, have been largely unexamined. Drawing chiefly on 30 in‐depth landlord interviews and 20 observations with property managers in Philadelphia, I argue that landlords exhibit a range of logics. When faced with rental market decisions, some employ profit‐maximizing criteria, whereas others consider social closeness with tenants or the meanings of properties. These differences relate to pathways into property ownership: landlords who obtain property circumstantially focus on profit maximization less than those who purchase property deliberately to pursue profits. This paper extends our understanding of landlords, connecting their pathways to a range of logics within a single market context. It also suggests that policies should consider the logics of landlords they seek to influence.\n"]