Property guardianship is on the rise in the UK. What exactly is this alternative living situation all about?
What is a Property Guardian?
Property Guardians are people that live in empty properties that are awaiting development by the owner. This isn’t just reserved for houses, it can be anything from a nursing home to an office block.
Under the arrangement, the Property Guardian pays a fee to the property owner that is lower than the market rate for rent. In return the Property Guardian agrees to maintain and protect the property.
Never heard of a Property Guardian?! Well, it’s more popular than you think…
It’s reported that between 2022 and 2024 the request to become a Property Guardian increased by 60% to more than 50,000 per year.
Why is it increasing in popularity?
Although the opportunity of renting a property such as an old church or school might appeal to some as a unique, quirky and artsy alternative, many are turning to property guardianships out of necessity. This can be due to the high prices for privately owned rental properties, particularly in areas such as London, as well as those at risk of homelessness.
Sounds a cost savvy option…are there any downsides?
Critics have raised concerns that Property Guardians are not protected by the same rights as standard renters. Therefore, they are not protected from short-notice evictions and the right to repairs for example. Also, the living standards that are covered by a standard tenancy agreement are not enforceable, and many property guardians could find themselves in living spaces lacking natural light and proper ventilation. A recent report found that local authorities were not routinely engaging with the property guardian sector, and there was increasing uncertainty as to whether property guardianship even fell within the remit of enforcement teams.
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