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TeachMeFinance.com - explain absentee landlord absentee landlord -- a property owner who does not occupy his or her property, but usually rents it to another or leaves it vacant. another definition... 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 is a common corporate practice. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.