Do you ask your child to contribute to your rent?

Unsuprisingly, most of us don’t know where to start. 74% of parents feel there isn’t enough information available to help them arrive at a fair rent, according to a study by comparison site comparethemarket.com, though 53% do admit they ask for a financial contribution from their offspring.

How much should I Charge my Grown Up Kids for rent?

And if your grown-up kids rented privately instead of moving back in with you, they would find that in some parts of the country, average rents have increased faster than inflation (the Consumer Prices Index (CPI) stood at 1.1% in July 2020) over the past year, making an even stronger case for you to charge them something to live at home.

How old are adult children when they leave the nest?

In fact, he has no intention of ever leaving the nest. Meet Carefree. Carefree is a 20-year-old adult child who lives with her parent, along with her three-year-old baby. Carefree still acts like a teenager. She leaves her baby at home with her parent while she goes out with friends. Sometimes she parties and stays out all night.

Is the adult child responsible for the household?

There’s an epidemic of young adults in our society who are struggling to find their way. In many families, this works out fine — the adult child is responsible and contributes to the household while they take some time to find their way (whether it’s for economic reasons or something else) before going out on their own.

Is it fair to charge adult children rent?

You may want to help support your adult children financially, but economics may dictate otherwise. If you don’t have the income to keep subsidising them, then it’s fair to charge a reasonable rent, depending on how much they earn.

When to help and when to let adult children?

Many young adults today seem to have the idea that mom and dad are made of money, so they can spend carelessly. This is the child who gets a new tattoo or a new phone, splurges on a fancy part for a vehicle, buys new clothes, purchases frivolous items for their apartment (or worse—gets a brand new vehicle), then asks you to pay their rent.

Unsuprisingly, most of us don’t know where to start. 74% of parents feel there isn’t enough information available to help them arrive at a fair rent, according to a study by comparison site comparethemarket.com, though 53% do admit they ask for a financial contribution from their offspring.

And if your grown-up kids rented privately instead of moving back in with you, they would find that in some parts of the country, average rents have increased faster than inflation (the Consumer Prices Index (CPI) stood at 1.1% in July 2020) over the past year, making an even stronger case for you to charge them something to live at home.