Prince William ‘to crackdown on royal property rules when he becomes king’ after Andrew cashed in with rent deals
Prince William will consider imposing stricter rules on royal property when he becomes king, including preventing those without official duties from living in palaces rent-free, according to a report.
Sources told Sunday Times William wants his reign to ensure the monarchy is “fit for purpose in the modern age”, which will require him to examine the costs of the institution.
The newspaper reported that property allowances would be high on that list, said to be a priority for the future king.
William is also said to be considering banning the renting of homes by royals, and is also concerned about non-working royals having privileged living arrangements.
It comes after a report by the National Audit Office (NAO) last week revealed that Andrew Mountbatten-Windsor had pocketed rental income from three cottages on the Royal Lodge estate and that he had only paid a peppercorn rent.
The report did not include details of how much income Mr Mountbatten-Windsor earned from letting out country houses, which country houses were rented second-hand or for how long. Additionally, it was not disclosed who the tenants were.
But a valuer has predicted the former Duke of York could earn “up to £180,000 a year” by subletting three properties.
According to Robin Edwards, a property buying agent at Curetons, the “unique setting, security and prestige” of the properties mean the former prince could earn rental income of between £7,500 and £15,000 a month.
The NAO report revealed the property arrangements of royal family members, including the Prince and Princess of Wales. It comes amid controversy surrounding the disgraced former duke’s lease and the revelation that he has paid almost no rent since 2003.
William and Kate Middleton rent a family home near Windsor and pay £307,200 a year for it.
Auditors also found King Charles paid the rent for Mr Mountbatten-Windsor’s two daughters, Princess Beatrice and Princess Eugenie, for their accommodation at St James’s Palace and Kensington Palace respectively.
The king’s nieces, Eugenie, 36, and Beatrice, 37, are non-working royals and both have jobs, and Beatrice is married to a multimillionaire real estate agent.
According to the report, Princess Beatrice’s rent at St James’s Palace was reduced to 68 per cent of its open market value, while Princess Eugenie’s Ivy Cottage at Kensington Palace was reduced to 64 per cent of its open market value.
It does not contain details of the figures the King paid through his private purse.
A Buckingham Palace spokesman previously said the report was “consistent with the Royal Household’s commitment to transparency” and that they hoped the findings would “help correct, clarify or contextualise some of the points relating to Royal properties”.
“Change is on my agenda – change for the better,” William said in an interview with comic actor Eugene Levy for Apple TV+ in October last year.
The heir to the throne laid out his approach to the monarchy by saying, “I want to question things more,” but at the center of his world was Kate and their three children, “the most important thing in my life was family.”
Accordingly TimesWilliam, 43, “is aware of how much the monarchy costs” and will be “hands on” in turning it into a leaner organisation.
Independent Kensington Palace has been approached for comment.
