Absentee Landowner refers to a farmer, real estate developer, and landowner who lives away from their land and is not actively engaged in day-to-day production and usage concerning the land. This kind of land ownership may encourage the emergence of social and political disputes amongst landlords and peasants within a peasant society, as was the case in pre-revolutionary France, pre-revolutionary China, and nineteenth-century Ireland.
Who made the idea famous?
The book by Norwegian-American economist Thorstein Veblen, published in 1923, is credited with popularizing the phrase “absentee ownership.”
Who constitutes the Absentee Landowner class?
A person who owns and leases out real estate but does not live on or close to the property is an absentee landlord. For example, owners of commercial real estate, agricultural plantations, holiday houses, second residences for rental revenue, and people who may have had to relocate may all be absentee landlords.
What drawbacks come with being an Absentee Landowner?
Being an absentee landlord has various drawbacks, including the potential of carelessness and other dangers due to infrequent property inspections.
A continuing concern is damage or a total loss brought on by carelessness or lousy conduct by tenants.
Building and zoning rules are often disregarded or only minimally observed in residential buildings held by absentee landlords, leaving them in a poor state of repair.
Absent landowners and Ireland in the 19th century
The Irish National Land League was a group that aimed to aid impoverished tenant farmers and protect them from the tyranny of faraway landlords in Irish society. As a result, the numerous land acts abolished the absentee landowner system, particularly the 1903 legislation, which was a consequence of the Irish National Land League’s efforts.