Definitions for absentee landlord
This page provides all possible meanings and translations of the word absentee landlord
Absentee landlord is an economic term for a person who owns and rents out a profit-earning property, but does not live within the property's local economic region. This practice is problematic for that region because absentee landlords drain local wealth into their home country, particularly that of rural areas and the Third World. The term "absentee ownership" was popularised by economist Thorstein Veblen's 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. Tax policy seems, overall, to favour absentee ownership. However, some jurisdictions seek to extract money from absentee owners by taxing land. Absentee ownership has sometimes put the absentee owners at risk of loss. Research suggests that net of other factors, foreign ownership has a negligible impact on the environmental performance of chemical plants. Research also indicates that in Mongolia, there is little indication that high rates of absentee ownership have detrimental ecological or social effects.
Find a translation for the absentee landlord definition in other languages:
Select another language:
Discuss these absentee landlord definitions with the community:
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Use the citation below to add this definition to your bibliography:
"absentee landlord." Definitions.net. STANDS4 LLC, 2015. Web. 1 Mar. 2015. <http://www.definitions.net/definition/absentee landlord>.