What Is An Absentee Home Owner?

Definition: Absentee owner An owner that does not live in/on their property; most absentee owners utilize the services of property management companies

An absentee owner, or absentee ownership, generally refers to the proprietors of investment properties. Absentee owners do not reside at the location of their investment property and will typically live outside the property s local economic region; however they do receive income from the real estate property. Often, landlords and homeowners that lease their dwellings to renters are considered absentee owners.

The term absentee owner has been given a bad rap, regarding its social connotation, due to select highly publicized stories about slumlords in the media. The truth is that there are very few so-called slumlords in comparison to the amount of landlords who are genuinely concerned, involved and knowledgeable about the living conditions of their tenants. Be sure to read consumer reports about your landlord and the property that you are interested in leasing... if the information exists. There is nothing worse than moving into a home, settling down and then realizing that your landlord does not hold up their end of the deal.

Historically, absentee ownership has had significant social and political influences for several European nations pre-Revolutionary France and Ireland experienced exploitation from their nations wealthy landowners. Unfortunately, absentee ownership continues to play a crucial factor for many developing nations. The issue mainly revolves around the concern that absentee landlords drain local wealth, by not allowing the money associated with their profit-earning properties to be reinvested within the economy in which the property is located.

By: Jayson Gibson

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