Charging son rentM

katejo

My parents charged me a nominal amount (didn't have a job at the time) for a few months. My mum kept the money and gave it back to me at a later date when I was living independently. I had no objection to that.

planetf1

Helpful comments :-)

I do expect (want!) him to move out at some point, though happy he settles into new job first. Getting used to paying something towards rent is actually good I think as a) he's done that before at uni - 350 before bills/food with less income and b) less gap to real rent rates, so less big a step.

My council tax does go up (as I was previously alone here) and I'm not having to scrimp and save to the ends of the earth, but at the same time I do need to pay this little (not!) mortgage off whilst I am still working!

needless to say I love my kids, and if they couldn't afford it so be it.......

amateur_house

My eldest moved back in after University 7 years ago and is earning around £20K.(which is quite a bit more than my own salary). We charged £80 a month rent/board etc with the idea that this would leave him a reasonable amount to himself to save up for a desposit on his own flat or house and be able to become independent more quickly. This hasn't happened. He now pays £100 a month and now at the age of 29 he can't see the point in moving out as it is cheaper to live here. In hindsight it might have been better to charge more and save some of it on his behalf.

silvercar

There are many threads on the relationship board on this topic.

The feelings range from "any adult should pay full rent" to "it is morally wrong to take a penny off your child".

xylophone

Has your son opened a Help to Buy ISA?

Charge him £300 a month on condition that he pays £200 a month into the HTB?

AdrianC

You're both adults. Sit down and discuss it.

G_M

Short medium or long term?

Does he have plans to move out (to rental? purchase?) at some point?

One option would be to ask for whatever his actual costs are (% of bills, food, CT etc) and also have him put aside an amount towards deposi for rental/purchase.

shortcrust

G_M wrote: »

Short medium or long term?

Does he have plans to move out (to rental? purchase?) at some point?

One option would be to ask for whatever his actual costs are (% of bills, food, CT etc) and also have him put aside an amount towards deposi for rental/purchase.

That's what I would do. Cover costs but let him save the rest. I wouldn't be comfortable making a profit when the money could be put to better use.

elverson

If you've got a mortgage to pay and he's working full time it's fair enough. If you want him out of your hair at some point then set the 'rent' at a level which will allow him to save up at the same time.

dinkylink

When I was living at home in a similar situation as your son around 10 years ago my parents charged me about £150.


I am aware this was a very good deal for me.


My parents were quite happy to charge me this low amount to cover extra heating/food etc as they didn't especially need the money and didn't want to 'make' any money out of me. This also allowed me to save a larger deposit for my own place quicker.


If I were in a similar situation (and probably will be in a few years time) I'd like to think I'd take this approach; charge enough to cover my costs, but no more. After all, it is family