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. Overall, tax policy seems 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.
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