Prince William 'to consider banning sub-letting royal properties' when he becomes King

In addition to barring all sublets, William could stop non-working royals from living in rent-free accommodation.

Reviewing the use of official royal residences is understood to be a priority for William.

Sources close to the prince have indicated to the newspaper that he wishes to ensure the institution remains "fit for purpose in the modern era" and plans to "look under the hood" of its operations.

The heir is reportedly conscious of public perception regarding non-working royals enjoying favourable housing terms.

It comes after the bombshell National Audit Office (NAO) report released earlier this week revealed damning figures regarding Andrew Mountbatten-Windsor and his daughters, Princesses Beatrice and Eugenie's, use of royal residences.

Mr Mountbatten-Windsor cashed in on the Royal Lodge estate by subletting three cottages while only paying peppercorn rent on the residence himself.

The amount of private income he made from subletting the properties is unknown because the NAO did not request such information.

Former chair of the Public Accounts Committee, Baroness Hodge, told the BBC it is "shocking" that the NAO was unable to ascertain how much Mr Mountbatten-Windsor had made from the rent agreements.

"We all want a Royal family to be continued, to be respected, valued and treasured," she said. "I want a Royal family, but in a modern era that does require proper transparency and accountability"

Neither Beatrice, 37, nor Eugenie, 36, meanwhile, have been paying any rent on their properties in St James's Palace and Kensington Palace.

Not only were the princesses charged a reduced rent amounting to roughly 60 per cent of the market value, but the rent was paid from the King's Privy Purse, largely funded by the Duchy of Lancaster.

This is despite both Beatrice and Eugenie's marriages to men with successful careers.

The royal household is now expected to review the princesses' rent agreements.

William is said to remain "mindful of how much the monarchy costs," according to the outlet, and will be "hands on" in restructuring the organisation and keeping a keen eye on the "footprint of the institution".

And during an interview with Canadian actor Eugene Levy last year, he stated plainly: "Change is on my agenda."

William has already demonstrated his commitment to transparency regarding his own living arrangements.

The prince recently disclosed the terms of his lease on Forest Lodge, the Grade II listed Windsor mansion where he and the Princess of Wales will continue residing even after becoming King and Queen.

The Waleses pay £307,500 annually for the property, some £100,000 more than the previous tenants were charged.

Notably, the lease contains a specific clause preventing any subletting of the three cottages situated within Forest Lodge's grounds.

Following the NAO’s report, a spokeswoman for the Crown Estate told GB News: "The Crown Estate welcomes the National Audit Office’s review, which confirms its leases with members of the Royal Family were agreed in line with independent, professional advice and open market valuations.

"We look forward to discussing the report further with the Public Accounts Committee in due course."

Our Standards: The GB News Editorial Charter