As cost of living pressures continue, more individuals are opting to become property guardians, residing in vacant residential or commercial buildings to protect them from squatters, vandalism, and disrepair. This arrangement typically offers rent that is 30-50% lower than private tenancy, sometimes including bills.
However, property guardians have significantly fewer rights than private renters. They hold a "licence to occupy" rather than a tenancy, meaning they can be evicted with just 28 days' notice. Guardianship companies are not obliged to protect deposits or carry out repairs not specified in the agreement, and landlords can visit without warning.
Katrina, 29, a postgraduate student, pays £580 a month for a room in a former care home in Hampstead, London, shared with about 50 others. This is approximately £400 below the London average, including bills and council tax. She acknowledges the temporary nature of the arrangement, as a developer bought the building last year with plans to convert it into flats.
David Hale, 32, and his wife rent a space in a former primary school in Brixton, South London, for around £1,500 a month, including bills and council tax. They estimate saving about £1,000 a month compared to a similar private rental. The Property Guardian Providers Association (PGPA) estimated between 10,000 and 15,000 property guardians in the UK last year, predominantly in major cities and aged 20 to 35.