Friday, June 1, 2012

How Much Rent to payment Adult Children Living at Home

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It may not be what you want to hear, but how much rent to payment your adult children living at home does depend on a few factors:

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1. What can the adult child afford? If they're living at home, they probably can't afford store rent.

2. Why is the adult child living at home? Are they going to school? If so, you may want to payment less rent than if they are working.

3. How long will they be living at home? Some parents will payment slight to no rent for up to three months while the adult child gets back on his or her feet after a accident like a disjunction or a job loss, then start charging rent.

So, you need to talk about what's right for your family. Most prominent is that adult children living at home cover any further expenses they add to the household - higher heating bills, extra grocery costs, more gas for the car, and so on. Working out a family budget is an prominent step that allows you to see what the adult child's impact is and how they will pay for it.

If the adult child is totally unable to pay rent, you may think allowing them to contribute their labor instead. Adult children living at home should all the time be responsible for some proper chores nearby the house (like cleaning their room, doing their own laundry, and cooking some meals), but you could add some extra chores -- like painting the house, cleaning the gutters, or helping with renovations, for example -- that they could do to help "pay" for their stay.

And most importantly, be sure to set a timeline for when the adult children living at home will leave. No matter how much rent they are paying, things will start to get uncomfortable if there is no plan for the adult child to get out on their own.

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