AIBU to charge parents some rent?

[Goneforgood72]

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?

[theSnuffster]

I bet they're not expecting to live there for free- they'll be expecting to pay something even if it's not what as much as what you charge the current occupants.

I personally would let my parents stay for free if I could afford to. But if I relied on that money I would have to charge them, just the bare minimum to cover what I need. It wouldn't make sense to leave myself in a financial mess, and my parents wouldn't expect me to.

[diddl]

Seems a good compromise to me.

If the flat wasn't becoming available, what would Op's parents do then?

Plus Op would still be getting full rent.

However, there's no guarantee of renting it out immediately again, so some known rent is surely better than risking nothing?

[Trifleorbust]

SapphireStrange:

I honestly haven't see anyone not understanding that the rental income covers emergencies and treats.

[rookiemere]

YANBU.
It makes loads of sense for your parents to live in the flat and it saves you the hassle of finding new tenants, plus it helps your parents out of a sticky spot. I think you can charge them a bit less of the going rate as you won't go through an empty period or new letting fees.

I wouldn't ask for rent from my parents if I were in your situation. However the differences are:
a) my parents have been very financially generous to us over the years
b) we're fairly comfortable so we could live without the money
c) My parents - my DM definitely, would insist on giving us some rent money

Therefore I think you're justified to ask, particularly as you're on one income and the flat is intended as an income generator to make up the shortfall.

[alltouchedout]

What's with this weird "you owe your parents, they fed and clothed and housed and raised you" line of thinking? No one chooses to be born, it's the parents who choose to have children. I feed and clothe and house and raise my children because I love them, because they are my children, and they owe me nothing. The care you give your children is their right, it's not a debt they should seek to repay to you later in life.

[SapphireStrange]

Trifle, I quote, 'you clearly only need this money for emergencies'.

[rookiemere]

So true alltouchedout - I certainly wouldn't expect DS to compromise his income for me when he's an adult just because I gave birth to him and raised him. Particularly if (touch wood) I was enjoying a financially comfortable retirement.

[troodiedoo]

Similar situation with my dad years ago but spare room not flat. He offered to pay rent and I accepted it gladly.

I was counting the days till he moved out towards the end though

[kimann]

If they offered I would accept but I couldn't ask them for rent myself. Sorry OP

[Trifleorbust]

SapphireStrange:

That simply reflects the fact that one does not need treats.

[SapphireStrange]

Trifle, . OK...

[FeliciaJollygoodfellow]

Only you know your family, but I know I would agonise over this and my mum absolutely insist. She would never see me out of pocket for something like this.

Also, the way my mum would view it is that she would never deprive my children, her grandchildren. Surely OP has more of a responsibility to them than to her parents?

[RB68]

I think charging them rent is fair - if something were to go wrong you would still be expected to sort it out - boiler, water, electrics and normally that would come from the rental monies.

Alot depends on the relationship you have with them and whther they would sort things, leave things as they found them etc

I would trust mine and just let them stay if I could afford that, but I suspect they would pay a reduced amount so that I wasn't completely out of pocket on insurances and any mortgage etc

[Nanny0gg]

As a parent I would expect to pay for staying there that length of time.

YANBU.

[Trifleorbust]

SapphireStrange:

Why the ?

It is not an issue of comprehension but of subjective opinion about what the OP can afford. I don't care what she does with her cash; I just think treats and emergencies are in totally different categories.

[Goneforgood72]

Op here - thanks for all the input!

The rental income (such as it is) goes towards everything that we can't cover from DHs modest salary here, including activities for children, flights to the UK to visit GPs, long term savings for uni, a pension substitute for me as I'm not currently working and no state pension here, retirement fund for DH and I (we rent here and will continue to do so, so no prospect of a house to sell when we retire other than the flat). So lots of things would be affected by a 5/6 month rent holiday. No, it wouldn't put us over the breadline but it would have a broader impact that we'd struggle to absorb.

DPs will very likely want to 'pay their way', I know they will. They haven't been in a position to help out much financially over the years but they would never want to take activities etc away from their GCs.

If they weren't in this situation, the flat would be let out again ASAP.

Thanks for all the input.

[RainbowsAndUnicorn]

I couldn't, it seems awful. They would be subsidising you as an adult in your choice not to work.

I'd help family out without hesitation, it's what you do but charging seems mercenary.

[frankiedog]

Hey guys

How about looking at rentals in the area, explaining that you need a 'certain level of income' to meet expenses ( I assume that you haven't in the past told them what exactly you use the income for) and agreeing on a percentage.

50% too generous
70 % about right . your call.

That way it's a win, win.

Parents' Well they aren't charging us full rent'
You ' Well at least we're covering our costs'

Peace of mind all round.

[Deadsouls]

As another poster wrote, if my parents offered, (which they probably would), I'd accept a reduced rate. But I wouldn't ask.

[Astoria7974]

I personally wouldn't charge my parents rent but each to their own

[Deadsouls]

But it's only 5/6 months. Maybe running costs such as the utilities they'd use whilst there; water, gas, electricity and so on.
But it just seems wrong to me (only my opinion mind), to charge your own parents over and above.

[Oysterbabe]

They would be subsidising you as an adult in your choice not to work.

So it's better that she subsidises them as adults in their choice to pull out of a house purchase and leave themselves homeless?

[RebelandaStunner]

Yes to bills obviously but no way would I ask for rent. They would offer but I would still say no. Same for IL's.

[frankiedog]

So half of what you would normally get then. Although I would question your long term pension/uni provisions plan as part of the equation.

How about a ' contribution' . just in case the new build is held up for whatever reason and then it becomes 'an issue'. What can you reasonably afford? ( to not have coming in over a six month period given that it's your parents? )