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. The term `absentee ownership` was popularised by economist Thorstein Veblen`s book of the same name, Absentee ownership. When used in a local context, the term refers to a landlord ...
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http://en.wikipedia.org/wiki/Absentee_landlord
a landlord who owns but is not resident in a property.
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https://www.infoplease.com/dictionary/absentee-landlord
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