In economics, an absentee landlord is a person who owns and rents out a profit-earning property, but does not live within the property’s local economic region. The term “absentee ownership” was popularised by economist Thorstein Veblen’s 1923 book of the same name, Absentee ownership.
What is ‘Absentee Landlord’
An individual or entity that rents or leases real estate to another party, but does not reside on the premises. An absentee landlord could be anyone from a local investor to an overseas conglomerate. Regardless of the size of their operations, absentee landlords generally seek to generate rental income from their holdings. Absentee landlords with substantial holdings usually employ management companies to maintain their properties and collect rental payments.
Explaining ‘Absentee Landlord’
Absentee landlords are the norm, rather than the exception, for commercial properties. The term “landlord” may indicate that the individual or entity’s real estate holdings are likely to be sizable. An absentee landlord may also have a long-term perspective with regard to real estate investments, with ongoing rental income rather than capital appreciation being the primary investment objective.
Absentee Landlord FAQ
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