As the cost of housing increases, particularly in urban areas, many young professionals are really feeling the impact of the housing crisis, finding it increasingly difficult to find affordable and flexible housing solutions. On the other hand, owners of empty commercial and residential property worry about the soaring costs associated with maintaining vacant property while securing buildings against antisocial behaviour and squatters.
As a result, property guardianship is gaining popularity in cities across the UK, providing an innovative, win-win solution to both individuals and property owners alike.
What is Property Guardianship
Property guardianship, is a housing arrangement where fully vetted individuals live in empty or unused properties for a small monthly fee, often much cheaper than market rent, in exchange for maintaining and securing the property.
A huge range of property types can be turned into great spaces for guardians to live and thrive in, even places you might not expect. Churches, old schools, police stations and care homes can make wonderful, unique living spaces, as do more traditional houses and flats that are waiting regeneration or development. Otherwise empty buildings get a new lease of life, while providing an affordable and flexible housing solution.
Property Guardians sign a licence agreement rather than a tenancy agreement, giving more flexibility on both sides. Guardians are entitled to the same legal protection as tenants in regard to health and safety, fire and HMO legislation but both parties can terminate the agreement with 28 days’ notice.
Guardianship – Part of The Housing crisis Solution
Guardianship won’t fix the whole housing crisis and it isn’t the right for everyone, but it can be part of the solution. It’s not for families or people looking for long term housing, but for many people the flexibility suits their lifestyle, especially in today’s society.
Guardians are part of a growing community and often enjoy the social connection of living with other like-minded individuals, something that is particularly beneficial for people who are new to a city or looking to make new friends. Property Guardians are always carefully and extensively vetted, resulting in a socially responsible, professional and trusted community.
Helping the wider community
In addition to providing affordable housing options, guardianship helps address the issue of vacant properties. In many cities, there are numerous empty buildings that are boarded up and left unused for extended periods of time. Not only is this an eye sore for the local community, it can lead to a range of issues, such as vandalism, deterioration and squatters.
By allowing trusted property guardians to live in these empty properties, landlords can keep them occupied and secure, which can help to prevent these issues from occurring, positively impacting the local neighbourhood.
The team at DEX Property Management are here to guide you through the process of securing empty property through guardianship. Click below to find out how guardians could be securing your property within 10 days, often free of charge.