Absentee owner
An owner who does not live at the property, such as a landlord in another city. Investors often target absentee owners when looking for off-market deals.
Also called: absentee landlord, out-of-state owner, non-owner occupied
Related terms
A property sold without being listed publicly on the MLS. Buyers find these through direct outreach, networks or wholesalers.
A person or company hired to run a rental, including finding tenants, collecting rent and handling repairs. Fees are often a percentage of rent plus leasing fees. Some states require a real estate license.
The owner who rents a property to a tenant. Landlords must follow fair housing law and state and local landlord-tenant rules.
Real estate bought to rent to tenants for income rather than to live in. Lenders, insurers and tax rules treat it differently from a primary residence.