King Charles could be paying more than £278,000 per year to cover the rents of Princesses Beatrice and Eugenie’s accommodation in royal palaces, a valuer has estimated. Both Andrew Mountbatten-Windsor’s daughters are non-working royals, but maintain residences in St James’s Palace and Kensington Palace, according to a new audit published on Friday. The report, published by the National Audit Office (NAO), said the rents were discounted to around 60 per cent of open market prices because the Royal Household properties require tenants with security clearance. It did not reveal the figures the King is paying. It also found that for a number of years, these adjusted rents were based on out-of-date open market valuations. Princess Beatrice has a property in St James’s Palace, and Princess Eugenie has Ivy Cottage at Kensington Palace. Both of these are covered by the privy purse, which is King Charles’ private money, according to the report. Andrew Mountbatten-Windsor received an undisclosed private income from subletting three cottages (PA) Robin Edwards, a property buying agent at Curetons, told The Independent the …