To not pay over £1000 in rent for a studio?

[strivingtosucceed]

I'm 28 and live 'at home' but pay rent and bills of about 700 for a studio while my parents live further south.

I also pay for the home internet, phone + TV license(i'm the only one watching live TV). Granted it probably takes a bit more to run the flat, I still think the amount I pay is more than generous as they couldn't let it out otherwise.

My dad has just told me he wants to take over all the house bills which he says will raise the total amount to 1200. (This is more than half of my take home.

AIBU to not want to pay that much? (That's what the voting buttons are for) but as an aside AIBU to consider moving out if they insist on my paying? It would leave the flat vacant until my siblings are back from uni. How much should older children pay to live in less than ideal positions until they've saved enough to buy?

Your parents appear to want everything both ways. Life isn't like that! They want you to pay full market rate (allegedly) but them and others staying when they want. If they didn't want the cost of running 2 properties then why did they buy another one? I assume it's an investment for them and yeah these investments come at a cost, a lot of landlords don't make money in the early days. The cost for you does sound a bit steep for zone 3, even though it looks lovely.

If you can rent something you'd be happy with for over half the cost of definitely do that. I'd let your parents know that the arrangement is no longer working for you, it hasn't for a while and this price increase along with the conditions just isn't floating your boat.

I'd recommend having the conversation before Xmas, then hopefully they've digested it before you visit. It's probably going to be awkward for you but really they're the ones making it awkward.

I would move out, the location isn't great for you, want a flat share and so on.

It seems like your parents and money don't mix well...

I'd move. I'm in a studio in NE London. It's quite big and £820 including water, gas/elec: due to builders bodge with meter, there's only 1 meter for all 3 studios. I pay my council tax. Its roughly 3 times the size of the 6ft square cupboard type ones I viewed that were all £740 + bills.

I don't think the photo of a studio that OP posted, is the one she's living in. She said it was about the same size. It might not look as "nice" as that one in the picture, so don't go by that when deciding if OP's getting a good deal or not.

OP, you said you've wanted to move out for a while, and paying £500 for a house/flat share, nearer to your work, seems like a no brainer. You'd be paying less towards your housing costs, and presumably also less on travelling costs. So do make the move.

If you move out, you'll have several hundred £s more each month, to put into saving for a deposit so you can buy a house. Not to mention, not having to share your space when your parents or siblings are around.

Your parents made the choice to buy the studio, so if they don't want to run 2 homes, they should sell it. Not make it your responsibility.

If he’s stupid enough to have a mortgage on a London property that’s his problem. I wouldn’t be subsiding his poor financial decisions.

Move out if your parents want the extra money while still expecting the "drop in" living arrangements to remain the same. As others have said currently you are probably getting quite a good deal but with the extra your dad is expecting you to stump up, not so much.

Your dad should realise how many benefits there are to you renting from him rather than via the open market, not least that you look after the place with no chance of it being trashed. The tax implications for him is another issue which may need to be pointed out to him.

Be strong and stand your ground whatever you decide to do.

You are 28. Move out and get your own place. They can choose to pay for the place themselves or let it go.

They sound very U. They can't have the financiAl benefit of private rent AND use it as a base at will. Get your independence now... move on my dear. They will soon learn that it was better as it was.

I’d be moving out. Why should you pay the mortgage plus more when all your family use it? You should pay the majority but not all of it bilmey.

They can’t say they want a base in London as a family crash pad but pay nothing towards it.

So either he gets you to pay it all, and then no one visits, or start looking to move elsewhere and let him sort it all himself

So, your parents want to have a London pad available to them as and when. They are willing to make this pad available to those children still at uni, outside term-times.

To this end, they bought a studio flat and persuaded one of their children to stay in it. Child pays to stay there. If child were not resident, the studio would have to be rented out, and since they are abroad an agent would have to be employed to manage this rental. They would run the risk of a bad tenant; not paying their rent and trashing the place. Even with a good tenant, the agent's fees will be hefty.

So, having a child in situ saves the parents from damage, worry, and agent's fees. They are effectively an unpaid caretaker for their parent's property, paying for the privilege.

Child has been considering moving for a while; would cost less and be nearer to work, plus it would be their space that siblings and parents would have no claim upon.

Have I understood the situation correctly @strivingtosucceed ?

Your parents are being total cheeky fuckers here. "The reason I live here is that they ... made a big fuss about my siblings and I having a place to stay." Wow. What a whopper. The reason you live there is because your selfish parents manipulated you with their fuss. The real reason you live there is because it suits THEM to have you taking care of their property for nowt. And now they want to screw you even more.

Move out to a set-up better suited to your needs, and let them get on with it. Let them hire an agent and rent it out commercially. Oh, they won't have access then? Tough shit, there are hotels in London I'm sure. And they can provide for your student siblings, not palm off that responsibility onto you.

I cannot believe how selfish they are.

Move.

YA definitely NBU

Answering your question 100% literally I would say YABU to expect to pay less than £1000 for a studio in your area as I imagine that’s about market rate? HOWEVER you are actually not being unreasonable at all, as if you were renting your own place it wouldn’t come with so many strings attached. Your parents are being incredible unreasonable to expect to keep your place as a crash pad for themselves and your siblings while also charging you full whack for it!

I’m in a similar set up in that I rent a place from my dad, way below market rate, on the understanding that he can stay here when he’s in town. I get a good deal on a place I could otherwise never afford and he gets to know his place is in good hands and he’s welcome to crash any time. But even then, he would never expect to stay for 2 weeks at a time, that would be way too much. And mine is a 2-bed, not a studio!

I don’t mean to sound rude but something about this sounds a bit ‘off’ to me as I don’t know any parents who would expect to stay in a studio flat with their children for 2 weeks at a time, whether or not they own it... are your parents maybe a bit overbearing or are there some issues with boundaries maybe?

YANBU

On the other hand your parents sound utterly selfish and deluded.

Essentially they are expecting you to subsidise "their" pad in the UK and provide a home for your siblings in a place that's far from optimal for you.

If they rented, as pp's have said they'd incur letting fees, have to manage maintenance from abroad or pay an agent.

They'd have to re-decorate regularly to command premium prices and carry the risk of a tenant that may fail to pay and/or damage the property.

They or your siblings would have access to the property.

They seem to think you are getting a good deal, but the winner here is them - many times over.

Even without this proposed price rise they are getting a good deal.

On the plus side I think they've given you a gift with this demand.

It's so obviously ridiculous and unfair they've handed you the perfect reason to break free of this arrangement.

Rather as might have happened if you wanted to move before now (not unreasonably) would be them them wailing about you leaving them in the lurch (which from what you've described is what I would bet they would do) they are now the architects of change.

My advice is to see them and simply state that as you can afford what they want to pay your giving 3 months notice. Say you've already found somewhere to live (in case the back down) as a result of their demands and it's a done deal.

Done get drawn into any emotional blackmail. It's not your job to provide a base for them or your siblings nor to subsidise your parents finances.

Good luck.

Your parents have the right to charge whatever they please. However, they cannot have their cake and eat it. If they want market rent they can get it on market conditions, which is that it's your place. And that gives you the right to say yay or nay.

You would be unreasonable to demand a reduced rent (though not unreasonable to point out the tradeoff you have all have made), but it's not unreasonable to say that if they want to change the terms of the arrangement that you want to go elsewhere.

If you can move out for £500 closer to work (shared houses I assume) I would do that. They can then choose whether to keep on the studio for family use, or rent it out.

You can then start saving for a deposit on your own place.

I live in zone 3. I pay £1050 for a 1 bed house with massive garden, and garage for parking. It's small (London standards obviously) but it's in a great location and serves us well!

Move out. You can get a one bed flat for around £900

@WhereYouLeftIt you sound about as angry as I feel, LOL.

I'm so relieved i'm not the unreasonable one here. I was hoping i'd be able to buy rather than move out and rent again, but it's hard to save as much as i'd like. £1200 would mean no savings at all.

@lisasimpsonssaxophone my parents (mum mostly) do actually have major boundary issues. My mum still goes through my wardrobe to pick out things she says are too 'small'. That's definitely an issue for another post.

Pay off their mortgage? No chance!

That sounds awful but doesn’t surprise me at all! Move out as soon as you possibly can in that case.

You could use this as an opportunity to say ‘I’m glad you’ve brought this up, I’ve actually been thinking about moving closer to work anyway and a place has just come up that I’m interested in, so seeing as you’re looking to rent it out at market rate now anyway shall we agree I’ll move out by ?’

I think you’d struggle to get like for like on that money but, zone 3 is big so depends where exactly.

"My mum still goes through my wardrobe to pick out things she says are too 'small'. That's definitely an issue for another post."
Wow.

Move out. Don't giver her your new address .