From SuspireWiki

Lord is a Title of Tribute bestowed upon a vampire for honorable service to the Invictus, normally marking an achievement of some merit. The measure of merit differs from city to city, and has a lot to do with the power level enjoyed by the covenant in the domain, as well as the standing and relations of the Kindred in question. Some vampires earn the title merely by being the inoffensive childer of an extremely prestigious sire, while less fortunate vampires spend decades fighting tooth and claw to climb so high.