Indian Americans, NRIs and Indians in America may need to relocate for work or other family reasons.
Perhaps the biggest challenge facing those relocating: what to do with my house; Sell or rent? While selling one’s house is an option, some people might opt to retain the property and continue to build equity on it. In addition to equity, one can generate rental income that will compensate for the expenses. Absentee landlords generally engage the services of a trustworthy local property manager who can manage one’s property remotely.
Many NRIs also opt to retain their property in the US even after moving back to India and might rent it out via a property manager.
In a new section of GaramChai.com (link), we present a first-hand account of an absentee landlord in America. 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.