As Rents Rise, Londoners Opt for Property Guardianship

Property guardianship involves living in vacant buildings. Once edgy, this concept is now gaining popularity as rental rates increase. For instance, Londoners are using spaces like old pubs, offices, and police stations for housing.

The Kings Arms Hotel, a former boutique hotel in London, has become a guardianship property. Erika Allen, a guardian, resides in a former police station. She enjoys cheap rent and ample space but notes the absence of a living room and regular inspections. Guardians can face sudden eviction, yet those adaptable and ready to move can save significantly.

The model allows people to pay licensing fees to live in these spaces for less than traditional market rents. Many view it as a potential remedy for London’s housing crisis and other cities facing similar shortages.

“There are millions of square feet of commercial properties which are sitting empty and vacant,” commented Graham Sievers, chair of the Property Guardian Providers Association. “These could be converted into safe, habitable, affordable accommodations.”

Guardians reside in various settings, such as closed schools and empty churches. They pay minimal fees for these spaces. Building owners benefit from security and a small income, as the presence of guardians helps deter vandalism and squatting.