You don't need a Lord to maintain a property though. That is the function of a superintendent, which is a role small landlords sometimes assume, and yes that is a job that should be compensated.

But it has nothing to do with owning and rentseeking.

My housing coop charges 38% market rate rent, maintains the common area, has a property manager, and provides units fridge/stove/furnace/AC, on 46 three bedroom townhouses.

So either landlords are wildly inefficient with their expenses, or they are taking a crazy margin over their operating expenses.

There are companies that would do the maintenance for you, so I think if that was your concern, you could roll the dice with those while still actually owning the house.

But I will say if you aren't going to be somewhere more than 2 years anyway (university or a work assignment), renting could make sense.