King Charles Expects Members Of The Royal Family To Pay Their Own Rent & Finances On Their Homes As Part Of Modernizing The Monarchy: Report

It looks like King Charles is expecting his family members to cough up their own money going forward.

According to a new report, the 74-year-old is looking to slim down the monarchy, and part of his plan is now having is brood pay for their own rent and finances on their home, as well as personal finances.

Charles wants to spend his resources more wisely and offer competitive salaries, benefits and pensions to his staff, in addition to any new hires.

Over the years, members of the royal family have been using the palace as apartments for themselves and their families but that will end shortly.

"Over time, that is going to change. 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 told an outlet.

After Charles' coronation in May, Vice-Admiral Sir Tony Johnstone-Burt, Master of the Household, and the Keeper of the Privy Purse Sir Michael Stevens will start creating a plan.

As OK! previously reported, Charles already kicked Meghan Markle and Prince Harry out of their Frogmore apartment. "We can confirm the Duke and Duchess of Sussex have been requested to vacate their residence at Frogmore Cottage," their rep said in a statement earlier this month.

After Charles made the move, the pair, who left the royal family in 2020 and moved to California, were "stunned" with his decision.

"It all feels very final and like a cruel punishment," an insider spilled. "It’s like [the family] wants to cut them out of the picture for good."

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Royal expert Katie Nicholl also told Entertainment Tonight why Charles might want to cut back on expenses.

"The royal family's wealth is estimated to be collectively about $442 million, which sounds pretty conservative, I think, when you think of the Royal Family, and their wealth, and their gems, and their art collection, and their palaces," she explained. "Remember, not all of them are owned by them personally... Part of the problem with estimating the royal family's wealth is that no one really knows the true value of those priceless Canaletto [paintings] hanging in Buckingham Palace or the royal collection."

Evening Standard reported on Charles cutting down the monarchy.