How much should I charge for my son & daughter @ home (age 23, 20)

Alan50

Tonight I will be asking No.1 son on what he thinks is a fair rent. January is the next yearly increase, 1st year @ £25.00, 2nd year @ £30.00, I was going to ask for £40.00, but £50.00/week is a good deal....thanks again for the posts.

Alan

andycarmi

When I was living at home if I gave my parents a 1/3 of my pay one of them could have given up full time work!

Depends on their income.

chinagirl

I paid a quarter of my pay in board to my parents when I started work (£40 / week so £10 board). I feel this is a fair figure and would expect my son to pay that when he has finished education and is working!

Mics_chick

Do you have to pay mortgage or rent? You didn't mention that in your original list.

I would total it all up and at least show them how much it's costing you and how lightly they're getting off at the moment.
Then I think the thirds option is a very reasonable one.

I used an online salary calculator to work out what the net pay is for your kids salaries:
£15000 - net monthly take home pay = £988 so a third is approx £330
£12000 - net monthly take home pay = £820 so a third is approx £273

Even if you didn't want to charge them this if you act like you are and then seeming to grudgingly relent and open negotiations whatever you charge them after that will appear cheap!

Alan50

Mortgage of £507.00 per month, thank you for the figures, I ask my son last night on what he thought was a fair rent....he said he would give it some thought and let me know??? to be continued

My total monthy expenses are £1,420.00, I give my son and daughter a break down of all the costs every year.

Alan

Voice_of_reason_5

Alan50 wrote: »

Any guidance please, my son and daughter have now left Uni/College and are still at home. They have started new jobs with salaries of 15K & 12K. I currently charge them £30.00 per week for everything in:
1. Food
2. All utilites
3. Broadband
4. Sky package (value 37.00/month)
5. Cleaner (2 times a week)

I am a single parent, but have a good income, I do not wish to overcharge them, but has anyone information on what is a fair rate?

Add up:
Rent/Mortgae
Council tax
Food
Gas/Electricity
Extra such as Sky etc
..divide by three (they are adults now - not kids).

If you feel you must subsidise them deduct according to how much help they give you around the house. So if they do nothing, and are basically lazy:beer: - charge the full whack!

Voice_of_reason_5

andycarmi wrote: »

When I was living at home if I gave my parents a 1/3 of my pay one of them could have given up full time work!

Depends on their income.

Doesn't it depend on their costs? ..not their income.

Voice_of_reason_5

worriedfirsttimebuyer wrote: »

I think a third of their take-home pay is a bit harsh.
They'll never be able to save up and be out from under your feet!

Depends what they're earning - surely? My sons pal is 19 and earning £600 a week as a plumber! As he can afford it - why not pay his proper share of an expensive London :A mortgage?

kazwookie

Charge them full wack, but save it for them for the future if you don't need it.

Just point out to them how much a flat would be, food all the utilities etc

lauranurse

voice_of_reason et al, this post was started in 2006!!!

Hopefully Alan's children have long since left home!!!!!!