Absentee landlords are those rarely visiting or residing at properties which are let out to tenants.
Who are absentee landlords? They are individuals or entities which have ownership of real estate and rent out the same, but are rarely seen near or within the same. They are not located near their let-out properties. Absentee landlords are different from occupier/owner landlords, who live in rental properties themselves. Absentee landlords are those owning second homes, commercial properties and other investment assets for rental income. These are not their primary residences or places of business.
There are many absentee landlords in the mainstream real estate sector, those who invest in properties in the residential, retail, and commercial segments for earning rental income. This could be investing in vacation homes or second homes for earning rental income, or even buying office spaces in buildings for rentals. However, most people have other primary residences or places of business. Hence, they are absent from these properties. Yet, there are some risks, including lesser knowledge about maintenance woes, issues, negligence, and so on.
