Would you help pay rent for your adult child?

[pibr]

My partner and I are retired, and have one daughter. Usually, we go on holidays far away, but due to covid and illness, we haven't been able to. We are fortunate to have ok pensions, but also rent out a property and run our home as an airbnb. So we have income.

Our adult daughter is 23, and just graduating from university. She has a job in finance lined up for next year, but this year has a scholarship to study a masters degree in London. The scholarship is no where near enough to pay for living expenses, but if she works, she will be able to scrape by. (Hopefully)

She was hoping to move in with her boyfriend, same age, but he won't earn enough either to get a decent flat.

Would I be crazy, if I agreed to pay £10k or so in rent for them, so that they can live somewhere decent. I am concerned about her safety if she has to live somewhere rough. That way, they can enjoy a year of their young adulthood without living somewhere grim/unsafe. I would be clear that this would be for one year only, until she has her big job.

I know they should fend for themselves, but I had a year when I was a student where I could barely afford to eat, lived in a horrid mouldy house, and it was awful. I really resented those of my age who enjoyed their experience, by having parental help.

That sounds like a really lovely and generous offer. I'm assuming the boyfriend will put in the same amount, so they're not both relying on your money. I last rented in central London a decade ago, and it was around £2000 a month I think for a 1-bed in Hammersmith!

It sounds like your daughter has done very well for herself. Assuming she will appreciate this - go for it if you can afford it as long as the BF isn't a freeloader

Yes help her . She is hardly a freeloader .

If I could afford it , I would.

However, the sensible option would be to rent outside of London and commute. Or even to buy a flat in a cheaper area if you could afford to invest , and pay the mortgage for a year until it can be put into her name.
That would make your contribution an investment.

As this is related to her education and she already has a job lined up on completion of it and if you can afford it I would do it. I am sure she would very much appreciate the help and it wouldn't be a massive struggle to you so why wouldn't you help out your daughter. It sounds like a lovely gesture to me.

Yes, if you can afford it then do it.

Yes, I would do it if I were you. She clearly has direction and purpose (Well done to her) so it is not as if the money would be waster.

I am sure she will appreciate this generous gesture.

Yes we can afford it. Sure, it will mean we will have to watch we don't eat too often 🍝

We were thinking of saying to them, that they can set aside say £600 a month each for rent, and we would give £800 or so. This would mean they could get a very nice 1 bed or a decent two bed maybe. We know that there are cheaper areas of London etc, but life at that age isn't about commuting in for miles

I am currently paying dd's rent as she is in full time postgraduate education.

In London

Yes I support mine, I think it’s fairly standard to do so when the off spring is in education or till they are up and running if the parents can afford it. I’m not sure why it’s even a question.

Yes I would, and have done so in the past.

She’s still in education and you can afford it, so I don’t see the issue.

Bit different if she was a perpetual student in her 30s, or earning good money and expecting you to support her to your detriment.

Yes I would support my child in the circumstances you describe. My only concern is that you are supporting her boyfriend as well. What if she wants to end the relationship? Or he does? I’d help her find a house share rather than a flat for the two of them. It’s only for a year. There’s no reason why they have to live together.