An owner of an interest in income-producing property who does not reside on the premises and who may rely on a property manager to oversee the investment.
A lessor of real property (usually the owner) who does not reside on any portion of the property.
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 is a common corporate practice.