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Reply to "Paying for assisted living, can relative keep their house?"
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[quote=Anonymous][quote]she can rent the house out until she runs out of money and use the rent to help pay for the assisted living place.[/quote] Someone in assisted living doesn't want to be a landlord. Who is going to do property management/maintenance. Not her. You? It costs money to own a rental. You need a cash buffer for times when it's vacant. Does she have it? How would she pay for assisted living if it was vacant six months? Unless she has owned rentals in the past, this sounds untenable.[/quote]
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