Prince William and Kate Middleton are being slammed for paying a “measly” rent for their Windsor home. The couple’s rent came to light after their rental figure became public through official filings with Britain’s Land Registry office. Now, critics believe the housing arrangement of the royal couple sends the wrong message to the public.
Critics say the royal couple’s housing arrangement sends the wrong message
Prince William and Kate Middleton are facing major backlash for paying “measly” $390,525 a year in rent for their Windsor home. After the figures went public, a royal finance analyst familiar with the arrangement told RadarOnline that the royal couple’s “rent reflects a negotiated market rate.” However, considering “the scale and prestige of the estate,” many may argue that “it remains relatively modest for such a significant property.”
As per the site, their Grade II-listed mansion, which forms part of the Crown Estate, includes two staff cottages. It was previously rented for about $274,000 per year before the rate rose by nearly 50 percent. Telling more about rent, another source close to royal estate management set-ups revealed, “Three independent valuations were conducted to ensure fairness.” But “the optics are challenging when compared with private sector equivalents.”
“In other words, what Kate and William are paying is totally measly compared to what ‘commoners’ would be expected to pay for such a grand residence,” noted the source. The rent is paid from William’s private income derived from the Duchy of Cornwall estate. According to the outlet, the estate is believed to generate between $6.35 million and $8.9 million annually after tax.
As per the documents, the Waleses are listed as leaseholders of Forest Lodge, their “forever home.” It was returned to the Crown Estate in the early 1990s by Queen Elizabeth II and has since been rented on the open market. Apart from their primary residence, the Prince and Princess of Wales have residences at Kensington Palace in London and Anmer Hall in Norfolk. Their Norfolk residence was a wedding gift from Queen Elizabeth II.
Originally reported by Parul Singh on Reality Tea.
