King Charles III has made $50.1m from rents this year amid record rises in the United Kingdom – realestate.com.au

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Prince Charles has made millions from recent rent increases. (Photo by Kirsty O’Connor – WPA Pool/Getty Images)

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Britain’s most famous landlord has proven to be a big winner from the rise in the cost of living around the globe.

Rents in the United Kingdom are reportedly rising at a record pace, which has helped King Charles III to a huge windfall.

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Charles received 26.2 million pounds (AU$50.1m) this year from his vast property empire, which he inherited when his mother, Queen Elizabeth II, died, The Times reports.

Despite the big payday, the King isn’t happy with son Prince William, for charging his father rent on the Royals’ holiday home in Wales.

Since he fled Royal life in England for the high life of California, Prince Harry has been viewed as the unfavoured son, who has most recently gotten an LA suburb panicked over rumours of he and wife Meghan are moving in.

But now Williams is off-side with the new ruler, after King Charles was informed he would have to pay his elder son to stay at The Firm’s Llwynywermod property, located in Brecon Beacons National Park.

An aerial view of Poundbury village, which is part of the Duchy of Cornwall. Picture: Getty

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The King should not be light on for funds however, with the Duchy recently publishing its first records since Charles took the throne, which outline just how he has weathered the financial woes facing his nation, raking in a bigger private income than his mother ever did.

Records seen by the Times shows that the Duchy raised rents by 3 per cent over the last fiscal year, just below the pace of private rental increases, which have contributed to a cost-of-living crisis.

Private rents are increasing at their fastest rate on record across the UK, though official figures only go back to 2016.

Those profits came in part thanks to increased rents on tenants living on royal land. King Charles also saw increased earnings from commercial properties, giving an early insight into how he is running his financial empire.

King Charles III is said to be less than happy at now being charged rent by his eldest son Prince William. (Photo by Jane Barlow – Pool/Getty Images)

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The Duchy of Lancaster, a private estate of the British sovereign, boasts a 45,000-acre estate — which is about the size of 28 Melbourne Central Business Districts — and generates millions of dollars a year in rental income, without paying corporation taxes like most businesses in Britain.

However, Charles does reportedly voluntarily pay an undisclosed amount of tax on his private income.

WHAT IS A DUCHY?

A duchy is a territory traditionally governed by a duke or duchess. The Duchy of Lancaster is a $1 billion real estate portfolio tasked with making money for whoever holds the throne. The monarch uses these funds to support the extended royal family.

1986: The then Prince and Princess of Wales with Prince William & Prince Harry in the wild flower meadow at Highgrove, bought for his use by the Duchy Of Cornwall. (Photo by Tim Graham Photo Library via Getty Images)

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Charles’s private income from the Duchy was £26.2m (AU$50.1m), which is approximately £2 million more than his mother last made. This is mainly in part due to the fact that Charles has fewer family members to support than his mother did.

This money is separate from the annual £86 million (AU$164.4m) taxpayer-funded Sovereign Grant, which pays for most official royal expenses.

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