Absentee Owner – David Reecher
An individual who owns a piece of real estate but does not live in it. An absentee owner may also be an entity such as a corporation or real estate investment trust (REIT). The real estate held by an absentee owner can range widely – while an individual may own a single condominium or apartment, a corporation may own a large chunk of real estate such as an apartment building or shopping mall. The primary motivation of absentee owners is to generate returns from their real estate holdings in the form of rental income and potential capital appreciation.