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AIBU to charge parents some rent?

(212 Posts)
Goneforgood72 Fri 10-Mar-17 11:57:00

My parents are in the process of moving house. They are in a bit of a pickle as they sold their place, agreed a moving date, put in an offer on a new place - then changed their minds and withdrew the offer. They've since put a deposit on a new-build which is great, but their entry date is several months after they have agreed to vacate their existing house. So they have to find temporary accommodation for 4-5 months. Neither myself nor my sister are able to accommodate them easily: I live overseas and my sister doesn't have a spare room; she and her OH would have to move into their child's bedroom if my parents were to go there.

DH and I own a 1-bed flat in the same city that we currently rent out. The rental income is really important to us: I've been a SAHM for a while, and the rent we receive goes some way to making up the shortfall of living on one salary: it pays for activities for our children, for big spends like new bikes, and is a pot of money for emergencies. The tenants have just given us notice that they are going to leave in a few weeks. We'd be very happy to offer the flat to my parents as long as they need it, but would we BU to charge them some rent for it? They are unlikely to find anywhere for free, and the reduced rent that we'd charge would be considerably less than they would pay elsewhere. They don't have loads of money to throw at it, but at the same time a 4-5 month period of no rent would really put a dent in our family income.

So AWBU to charge a reduced rent to my parents?

watermelongun Fri 10-Mar-17 11:58:41

Not at all!

ShanghaiDiva Fri 10-Mar-17 12:00:12

Perfectly reasonable.

babybubblescomingsoon Fri 10-Mar-17 12:00:39

Did they charge you rent while you were growing up, and they were feeding you and putting clothes on your back etc ? They're obviously desperate which is why they've asked... maybe ask them to do some food shops for you or something to help out? But bear in mind they probably had to go without quite a lot to give you what you needed while you were growing up and this isn't a permanent situation flowers

Chloe84 Fri 10-Mar-17 12:01:40

YANBU. Make sure you agree it all in writing though (amount, rent payment day etc).

WyfOfBathe Fri 10-Mar-17 12:01:43

YANBU, especially if it's a considerably reduced rent.

WyfOfBathe Fri 10-Mar-17 12:02:11

maybe ask them to do some food shops for you or something to help out?
I think this would be quite difficult given that they live in different countries

VimFuego101 Fri 10-Mar-17 12:03:25

YANBU. Even if they pay market rate for it, at least they will presumably have some flexibility over when they move out rather than being tied to a year's contract if they rented through an agency.

gleam Fri 10-Mar-17 12:03:53

YANBU. Will the reduced rent be enough for you?
What if the new build is delayed, or your parents change their mind again?

HecateAntaia Fri 10-Mar-17 12:05:18

Message withdrawn at poster's request.

DickToPhone Fri 10-Mar-17 12:05:51

Depends how your parents feel about you doing this. Sounds like it would be easier to just rent it out commercially.

listsandbudgets Fri 10-Mar-17 12:06:22

Could you say they can use it for a while in exchange for taking over all the bills? If the property was empty for a while you'd still need to pay council tax, utility standing charges, insurance etc

arethereanyleftatall Fri 10-Mar-17 12:06:49

I wouldn't change my parents, they've done so much for me oveme the years-I'd be happy to be able to give something back - but I guess it depends on the kind of relationship you have.

AnneLovesGilbert Fri 10-Mar-17 12:06:59

YANBU. Explain what you need them to pay and then it's up to them whether to accept it.

Comparisons with when you were a child are daft, you're now in that position by needing to support your own children and have to look after your own family first.

Your parents have made this decision and should be grateful for any help you can offer them. If you didn't have a flat to rent to them surely they'd manage.

TheStoic Fri 10-Mar-17 12:07:31

If they offered, I would accept. But I don't think I could ever ask my parents to pay rent.

Jazzywazzydodah Fri 10-Mar-17 12:07:38

It's reasonable to ask for a contribution for the rent - maybe the actual cost of the mortgage instead of the rental income as they are your parents AND the reasons you have stated - bikes, activities potental emergencies etc.. are not essentials are they...

HecateAntaia Fri 10-Mar-17 12:08:25

Message withdrawn at poster's request.

Patriciathestripper1 Fri 10-Mar-17 12:08:27

shock omg you would charge your parents??
Tell me, if everything went tits up and you had to return to uk would they charge you to stay with them till you found somewhere?
If you go for a visit and stay with them do they charge you? I bet the wouldn't,
It's a few months inconvenience that's all.

gobbynorthernbird Fri 10-Mar-17 12:08:46

I'd love to have enough money that I could hand over months worth of my income to my DP. That must be nice.

EssentialHummus Fri 10-Mar-17 12:09:10

Your mortgage lender may have a restriction on renting to family. That aside, I'd charge them something if you absolutely need to , and no more.

Aderyn2016 Fri 10-Mar-17 12:09:10

I think this is okay too if you explain to your parents that under normal circumstances you would love to just let them stay for nothing but you cannot afford the loss of income.
You are still helping them loads as they wont have to pay rental deposits and have flexibility over when they leave.

I wouldn't ask my parents to agree things in writing, assuming they are nice, normal parents - I think that would be massively insulting and damaging to your relationship.

Trifleorbust Fri 10-Mar-17 12:09:16

Have they asked?

StarUtopia Fri 10-Mar-17 12:09:44

I could never ask my parents to pay rent.

They are the people who educated you and led you to the financial position you are in now (which if you own property to rent out, you are hardly struggling!) - pays for the kids to do activities?! Jeez. If it paid for food and electric, I would understand better.


Trifleorbust Fri 10-Mar-17 12:10:26

Anyway, I would only charge them if I had to. New bikes and emergencies aside, can you manage without it? I am sure you could say, look, we can afford to do without it but in an emergency we would have to ask you for it.

Aderyn2016 Fri 10-Mar-17 12:11:43

I agree that I would only charge if I genuinely needed the income, not just for 'extras'

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