Definition of Absentee Landlord
What is an absentee landlord? What is the definition of the term absentee landlord?
The term absentee landlord kind of has a negative connotation, but in reality most landlords are absentee landlords.
An absentee landlord is somebody (or something, eg a company) that owns a property, rents/leases it out but doesnít actually live on the property.
For instance - you decide that you are going to buy a small 4-unit apartment building in town because you feel that it will be a good investment. All four units have already been rented out.
If you buy the property but donít live in it yourself, then you are an absentee landlord.
Many people hear the term absentee landlord, and an image of somebody neglecting a property comes to mind. In reality, many landlords donít actually live in the buildings/homes that they own, but that doesnít mean that they are doing anything wrong. Many commercial ventures will own dozens, if not hundreds, of different properties.
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