Absentee Landlord

Category: Absentee Landlord
Last Updated: Thursday, 26 July 2018 Published: Thursday, 26 July 2018
Written by ATA Admin

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Absentee Landlord

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Absentee Landlord

Category: Absentee Landlord
Last Updated: Thursday, 26 July 2018 Published: Thursday, 26 July 2018
Written by ATA Admin

User Rating: 0 / 5

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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.

When used in a local context, the term refers to a landlord of a house or other real estate, who leases the property to tenants, but fails to ensure that proper maintenance is done on it. This in turn leads to what may appear to be abandoned buildings, causing significantly lowered property values and urban blight.

someone who owns and rents property but does not live on or near the property and rarely visits it.