Question

This type of property owner does not reside on the property and often relies on a professional property manager to manage the investment.

A) Absentee Owner
B) Resident Owner
C) Active Owner
D) Passive Owner

Answer 1

An Absentee Owner is a property owner who doesn't live on the property and hires a manager to oversee it.

Step-by-step explanation:

The type of property owner who does not reside on the property and often relies on a professional property manager to manage the investment is known as an Absentee Owner. Absentee owners may own various types of real estate, such as rental homes, commercial buildings, or vacation properties, but they do not live at these locations. Instead, they hire property managers to handle the day-to-day management tasks, which can include finding and screening tenants, collecting rent, maintaining the property, and addressing any issues that arise.