Kate Middleton & Prince William May Have To Start Paying Rent Under King Charles III's Strict New Real Estate Shake-Up

Prince Harry and Meghan Markle shouldn’t feel bad about losing Frogmore Cottage to Prince Andrew because King Charles III’s five-year real estate plan is going to change everything, even for Prince William and Kate Middleton. The days of paying little-to-no rent on royal properties are going to be nothing but a distant memory as Charles tightens the palace budget.

This “major shake-up of the monarchy” is about making extended members of the royal family learn “to fund and fend for themselves,” according to the Evening Standard. So, the Harry and Meghan eviction was “just the start” as Charles now expects others, like William and Kate, to “finance their own homes.” That is reportedly going to be his first order of business after his coronation: tackling “inefficiencies in what is being viewed as a largely overstaffed and outdated system.”

More from SheKnows

That means instead of “subsidized palace accommodations,” William and Kate will have to pay the premium going rate for any royal housing — which seems fair since they have plenty of money in their personal coffers. Some of the coveted properties may even be rented to outsiders, which would allow the royal family to charge top-market prices. “Properties will be let at commercial rates going forward and to people outside the family. Where it is in a palace environment, they will of course be security vetted,” a source noted.

It seems that William approves of his father’s budget cuts as he’s reportedly working closely with Charles to execute the plan (a king in training). But as a senior official noted, it’s time to “cut the cloth.” They added, “A lot of practices that have evolved during the last reign will be changing. The King is not heartless or reckless, but if the family members are not part of the core family and not working for the crown, it is fair for them to house themselves and fund themselves.”

Click here to read the full article.

Before you go, click here to see more photos of Prince William & Kate Middleton through the years.

Launch Gallery: King Charles III Inherited a $25 Billion Real Estate Portfolio — See His Most Opulent Estates, Palaces & Cottages

Best of SheKnows

Sign up for SheKnows' Newsletter.
For the latest news, follow us on Facebook, Twitter, and Instagram.