Money Moral Dilemma: Should I charge my mother rent?

FATBALLZ

Gavin83 wrote: »

If it's ok to charge your children rent while living at home, I don't really see the issue with charging your parent rent either. It's the same thing so I'm quite surprised at some of the responses here.

However I would take the fact she paid for it herself as rent payment.

Me too, when it's an 18 year old the board is flooded with "demand 1/3 of his wage!!!!!" but when it's an 81 year old in the same situation taking rent is somehow seen as immoral.

But I agree with the point that she paid for the garage conversion which is effectively gifting money to the child so that can be taken as rent, and if she really wants to pay maybe the best thing is to charge some sort of token amount like £100 a month.

sashadavis

I wouldn't do that personally... it can be a touch difficult in these ecconomic times, but why take rent off someone who has obvioulsy already helped you out a lot with your home? Try to talk her out of paying a monthly, or weekly rent, and instead, should you fall on very hard times, ask for a little help if or when needed - no obligation.

*Louise*

FATBALLZ wrote: »

Me too, when it's an 18 year old the board is flooded with "demand 1/3 of his wage!!!!!" but when it's an 81 year old in the same situation taking rent is somehow seen as immoral.

18 year olds haven't usually paid for a garage conversion.:)

Most people who have said rent shouldn't be charged have pointed out that the mother paid for the conversion so has already paid a fair bit. If she hadn't contributed in this way I'm sure more people would say that it was ok to take some sort of rent from her.

anne99

Depending on the mother's wealth, there may be an advantage in receiving rent now in terms of reducing her future estate's Inheritance Tax liability. I believe there wouldn't be an income tax liabililty if the rental is under the 'Rent a Room' limit.

TBagpuss

For me, the key here is that OP said that her mother "wants" to pay rent. I think if that is what she wants (which may well be so that she feels she is not accepting charity, or being a burden, and is paying her way) then it is not unreasonable to accept it.


If you don't need the money you can put it in a savings account (which you can then use if you need to make repairs to the annex, or to install any extras which might become necessary in the future)

Presumably your mum previously had her own home and paid all the outgoings and so now has lower outgoings than she did before - If you set the 'rent' figure right you can end up with a situation where she pays rent (so feels she isn't a burden on you) but still has more disposable income than she did before.

She is an adult and able to make her own mind up, so allow her to make her own decision. Since she is living in your home I think you can argue that any amount should be pretty low - expecially if you discount it to take account of the fact she paid for the conversion - that should allow you to agree a figure that you don't feel uncomfortable taking and that she can easily afford.

charlie304

I'd be embarrassed to charge my elderly parents rent when she has already paid for the conversion from which you will gain eventually. Be a nice son and return all the help your parents have given you in the past - I am sure! :beer:

ivylinn

I wouldn't ask for it, But people of that generation are often very insistent about paying their way.

If that is the case, I would put the money away for if she needs it later.