Absentee landlord
Person who rents a property, but does not live in the property's local economic region / From Wikipedia, the free encyclopedia
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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.[1] Overall, tax policy seems to favour absentee ownership.[where?][2] However, some jurisdictions seek to extract money from absentee owners by taxing land.[3] Absentee ownership has sometimes put the absentee owners at risk of loss.[4]