Key facts
- Property guardianship is an emerging housing solution in London.
- Guardians live in vacant buildings for reduced rent.
- One guardian pays £580 per month.
- The guardian lives in a former London care home.
- Property guardianship offers affordability.
- This arrangement provides fewer tenant rights.
- Living conditions can be precarious.
Amidst escalating living costs, property guardianship is gaining traction as a housing alternative in London. This model allows individuals to occupy vacant properties, ranging from former commercial spaces to residential buildings like care homes, in exchange for substantially reduced rent. One guardian is currently paying £580 per month to live in a disused care home in London. This arrangement provides a more affordable housing option for many, particularly in a city with high rental prices. However, property guardians typically possess fewer tenant rights compared to traditional renters. The living conditions can also be precarious, as these properties are often awaiting redevelopment or sale, meaning guardians may have to vacate with little notice. The rise in property guardianship reflects a broader trend of people seeking innovative solutions to manage housing affordability challenges.