The parent landlord: Is it wrong to charge your kids rent?
Moving out of home can be a costly affair, hence living with the folks may be an option. But for some kids, it does come with a price.
Listen as KZN shares their view on this topic with Damon, then read more below:
With the exorbitant cost of living, moving out of home can be a costly affair. I have a colleague who only moved out when he was 27 because he could not afford it.
While talking to him, I learned that he had to pay 'rent' to live at home. His mum demanded it as she couldn't afford to take care of him and his needs anymore. It seems that more parents these days charge their children for living at home.
For some older parents though, they aren't just collecting rent to pay the bills but also using the money received to spoil themselves. Take UK-based couple Joanne and Mike Berry, two retirees who are using the money they receive in exchange for their kids staying at home to enjoy their lives to the fullest.
Daily Mail reports that the Berrys have also seen some pretty exotic locations around the world, and enjoyed scrumptious dinners thanks to their kids. The rent includes boarding, payments for utility bills, laundry, and even food.
Read: Are you ready to rent?
"Mike and I both paid rent to our parents and feel strongly our three must do the same now they're working. 'They might not like it, but we believe we're doing them a favour by teaching them houses are expensive and they need to learn to budget with their incomes," said Joanne when interviewed by the Daily Mail.
After raising your kids and dedicating your life to bringing them up, is it so wrong if parents treat themselves every now and again on the money they’ve taken from their children?
For many parents, this is a touchy subject, and if they do decide to charge rent, it would be a lot less than what they would typically pay. It's about teaching responsibility, I guess.
Read: "I charge my five-year-old 'rent' to teach her a life lesson"
I don't have kids of my own, but if I did, I would not mind charging them to stay with me - especially considering how expensive it is to live in the modern world.
Is there anything wrong with charging your adult children rent and if you already do, do you feel guilty taking money from them?