Sell rental property or continue to rent it - on behalf of elderly landlord

Buffet

Registered User
Messages
14
Thanks all for your inputs.

Selling does seem like the best option overall.
Along with encouragement to use the money to make improvements that will assist him remaining in his own home. He has lived alone for almost 50 years in an isolated area, is used to being totally independent, and is extremely private to the point that I don't think anybody has been inside the home in decades. The fact that he is reaching out for help now means that he is feeling vulnerable.

I will see if it is appropriate to mention gifting to whomever his beneficiaries are - but that would definitely be a sensitive matter!

Thanks again.
 

Stitcher

Frequent Poster
Messages
169
Conversations around finding out what charities that might interest him to leave some money to, if he hasn't already, particularly if he has been interested in contributing to his community.
 

Bronte

Frequent Poster
Messages
14,114
Along with encouragement to use the money to make improvements that will assist him remaining in his own home. He has lived alone for almost 50 years in an isolated area, is used to being totally independent, and is extremely private to the point that I don't think anybody has been inside the home in decades. The fact that he is reaching out for help now means that he is feeling vulnerable.

I will see if it is appropriate to mention gifting to whomever his beneficiaries are - but that would definitely be a sensitive matter!

Thanks again.
So his home does need upgrading. In light of that I wouldn't mention gifting yet. Do the quick clean up, skip, lick of paint, sell. Then decide the next steps. Are you allowed inside his home? Does he keep himself clean, well fed and heated in comfortable surroundings. Those would be the important things to consider.
 
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