Charging Rent from children?

Loz01

28k a year and he pays £100 a month??????? Wow. I think you need to re-assess that.

OldMusicGuy

My son earns 26K + bonus and doesn't pay us any rent. However, we have made him save the equivalent into an emergency savings fund and a LISA. He also has an investment trust for savings once he goes over the LISA limit. He does pay us money for food though (£100 per month). He saves at least £500 per month, although the areas he is thinking of moving to may mean he will be paying rent of 600 to 700 PM. So maybe he is getting off a little lightly.

We want him to get used to budgeting on a monthly basis but also get money behind him before he moves out. He will have lived with us for about one year after finishing Uni before he leaves.

We are fortunate that we do not need the rent money directly from him but I think a family that needs the extra income is justified in getting a fair contribution from offspring living at home.

maman

Carl31 wrote: »

as a parent, should you not be preparing them for the real world?

Life costs money, you are not "profiteering", they are paying for their living costs, unless you charge them more than it costs you, unless you are charging market rates for rent, then they are getting a bargain anyway

It will be more of a shock when they have to leave home and realise how much life costs, and could even lead to financial problems

I think (in fact I know because I've done it) that it's possible to both prepare your children for the adult world of budgeting and finance and have them living at home rent free.


We gave our DDs an allowance from early in their secondary school years so they knew how to handle money and how to save. They were actively saving for deposits when they lived with us as adults or between home sales. I'm pleased to have been able to help.


Many adult children will be part of the 'boomerang' generation. They will have lived independently, possibly in a student house, and returned as a way of parents helping them save.

Pollycat

This subject was discussed on This Morning.

One woman had 4 of her 6 sons still living at home so 5 males to feed.
None of the sons paid board/rent.
I don't know if she'd broached the subject with them or not.

The woman with Eamon & Ruth said 'if you're not paying your other children's rent or mortgage, why are you subsidising the 4 who've chosen not to leave home?'

michelle09

I would do what our parents did with us - they worked out what they felt we were costing them in bills/food etc and charged us £100/month to cover it.



On top of this, we were expected to put £500/month into a savings account. If we couldn't show them evidence of that then rent would have gone up to £600/month and they would have put the money into savings for us! Thankfully neither of us needed that, and while I left at 19, my brother had a decent deposit after 6 years of that.

Poor_Single_lady

scd3scd4 wrote: »

Thank you Ska............I know we nearly all are proud of out children. But when I see the cards parents give her and the comments.............when I ask where she has been and she answers. "oohh just a mum wanted to have a coffee with me to say thank you dad". xxx


At 24 she was promoted to a senior staff nurse and works at the Evelina Children's hospital in London. With an honours degree. When I see her come home after 12 hours, no break and not including the extra time she stayed on to help out. You bet I am proud.............thank you.

Hmmm. i would tell my dad the same if I had to declare where I was going all the time.

calleyw

Pollycat wrote: »

The woman with Eamon & Ruth said 'if you're not paying your other children's rent or mortgage, why are you subsidising the 4 who've chosen not to leave home?'

Exactly. If they lived away from home they would have bills to pay.


Once they are adults and earning I don't get what the problem is with getting them to pay towards bills. No lives for free. But it seems some adult children get a free ride.


When I was living back at home while separated from my husband, I was paying half the bills and mortgage on a house. And paying my mum something for keep. I was not there that much and hardly ate any meals there. But still paid as having me there was extra work and cost.



Yours


Calley x

scd3scd4

Poor_Single_lady wrote: »

Hmmm. i would tell my dad the same if I had to declare where I was going all the time.

alllllll you love a little bit of exaggeration and drama don't you darling. lol

What lies you tell your parents, is your business darling ;-]

Takeaway_Addict

smsfad wrote: »

please advise.

I have a son (26) who earns about 28,000 and pays £100 per month rent he buys his own food and does his own laundry but i supply the detergents etc, he bathes most nights and my water bill is high!

I have a daughter (23) who earns 18,000 and she pays no rent and has just moved her girlfriend in well see has been staying for 6 weeks!

What is a realistic amount for each of them and how can i justify this as they are rather argumentative?

Kind regards
annie

25%....................

svain

smsfad wrote: »

Please advise.

I have a son (26) who earns about 28,000 and pays £100 per month rent he buys his own food and does his own laundry but I supply the detergents etc, he bathes most nights and my water bill is high!

I have a daughter (23) who earns 18,000 and she pays no rent and has just moved her girlfriend in well see has been staying for 6 weeks!

What is a realistic amount for each of them and how can I justify this as they are rather argumentative?

Kind regards
Annie

First of all ... you dont have to justify anything ... it is your house and so you are allowed to set the rules .... The fact they may be argumentative over it would just strenghten my resolve on the issue.

Secondly i would be asking your daughter and her girlfriend to leave .... im assuming they have a joint income and therefore will be able to afford to rent their own place.

Thirdly i would be asking your son for on par a single room to rent in your area ... (£350-£400 in my area) and he then covers own food, washing etc. Charging a percentage of income is outdated, petty and just smacks of jealousy or greed.


This is a different situation to most circumstances when this question is asked, as normally the kids have just got their first job and younger .... In these cases i wouldn't charge any rent for an agreeable term (2-3 years) allowing them to enjoy a bit of life before they get weighed down with responsibilities. Your two are both well into adulthood and i agree should be contributing if they wish to stay with you, or very strongly encouraged tp leave.