With 4 in 10 Londoners considering leaving the capital due to spiralling housing costs, Property Guardianship is offering a new, affordable alternative to renting.
It is estimated that there are currently between 7,000 and 10,000 Property Guardians across the UK, but it is thought that figure could rise to more than 100,000 as people look for other options to tackle the countries housing crisis.
The concept is simple – Property Guardian providers take on empty properties and regeneration projects in great locations on behalf of Property Owners and convert them into unique habitable living spaces. These spaces are then made available for people to live in, on a flexible basis, in exchange for a low monthly fee and help looking after the property.
DEX, one of the UK’s leading Property Guardian providers, explores the benefits of Property Guardianship and why more people are turning to this growing sector.
1. Cost savings
Property Guardians save on average 50% – 60% on housing costs compared to their neighbours. Significantly reducing living costs, gives Guardians more disposable income to save towards a deposit for a property of their own, take a holiday of a life time or just live a more comfortable quality of life.
2. Live in Great Locations
Given that DEX licence fees are significantly cheaper than local rental prices, Guardians can afford to live in normally expensive, desirable locations, such as city centres for much less money[/grid_column][grid_column]
3. Reduce Monthly Outgoings
Property Guardians don’t just save on accommodation. Many shared properties are inclusive of all bills and council tax, making it easier to budget each month. Many guardianship properties are located in city centres, meaning Guardians also benefit from a significant reduction in their commuting costs.
4. Interesting Properties
Property Guardians get to experience living in a huge range from houses and flats. DEX currently have Guardians living in unique properties from schools and convents through to police stations, office blocks and libraries.
5. Large Living Space
The majority of DEX properties provide larger living space than other homes on the market – space that DEX has seen Guardians use as art studios, freelance space or home gyms.
6. Range of Properties
Traditionally, people associate guardianship with living within a shared property. Although this is often the case, DEX offers a range of property from large community living spaces through to self-contained flats – all at below market rate.
7. Growing Community
Property Guardians enjoy living with like-minded individuals and are part of a growing Guardian community.
8. Giving Meaningful Use.
The reason properties might be vacant varies, but often they are waiting to be sold or for planning permission. Property Guardians’ bring these buildings back into meaningful use, benefitting the whole community. By simply living there, Guardians protect the property for the Owner and in return receive a great place to live and low-cost accommodation.[/grid_column][/grid]
9. Flexible Accommodation
Being a property guardian is slightly different from a traditional tenancy agreement and as a result it offer a more flexible living arrangement. Guardians operate under a licence agreement, meaning both parties can terminate the agreement with 28 days’ notice. This gives Guardians a level of flexibility that traditional renting doesn’t.
If Guardians wish to carry on being a Guardian when their property is handed back, DEX will find an alternative, low cost, property to secure.