"Mr. Beaver, my parents — both in their 80s — have substantial lifetime pensions, no debt and a lot of money in savings accounts, so they do not need any additional income source. Recently, they attended a seminar aimed at older people, where a real estate broker talked up the advantages of becoming landlords.
"Brochures downplayed the age-related risks and made a big point of saying they wouldn't need to hire a property manager and that tenants would be required by the lease to be responsible for all maintenance. As the landlord, all they would have to do was collect the rent.
