Hi, I’m Christina Newberry from adultchildrenlivingathome.com. Today i’m going to talk about how much rent to charge adult children living at home. It may not be what you want to hear, but I’m afraid there’s no single answer to this question. It depends on a couple of factors.
First, how much can you they afford? If they could afford market rent, they probably wouldn’t be living in your home.
Second, why are they living in your home? If they’re going to school or if they’re struggling to get over a major challenge in their lives like a divorce or the loss of a job, you may want to be a little bit more flexible — especially if they’re just using it as a short-term way to get back on their feet.
Third, how long is your adult child planning on living in your home? If they’re just going to be there for a couple of weeks up to a couple of months, you might want to be a little bit more flexible than if they’re planning on staying there for a long time like a year or more.
So you have to talk about what works for your family. I recommended any adult child who’s living at home for more than six weeks or so should pay rent every month. The simple fact is that they’re adding to your household expenses and they should be required to make contributions to that.
Plus, it’s a good idea for them to have this monthly expensive in mind so they are prepared for it when they are living on their own.