老爺 is read as ろうや (rouya) and means old man.
ろうや
rouya
ろうじゃく
young and old
ろうじん
old person
ろうご
old age
ろうか
ageing
おいる
to age
ろうじゅう
member of shogun's council of elders
ろうにゃくなんにょ
men and women of all ages
ろうし
Laozi
ろうば
old woman
ろうじんほーむ
retirement home
ろうねん
ろうじんせい
senile