Bargain rent and bills included – property guardianship
What is property guardianship and is it worth it?
Renting is not a cheap option but for some people they have no choice. I still rent and I hate it as I feel as though it is wasted money every month but it is so difficult to get together a deposit and due to poor credit in the past because I was made redundant a few year ago, I will struggle to get a mortgage.
So is there a way we can get a bargain on our rent and have our bills included too?
Property guardianship is where members of the public move into abandoned buildings. They could be anything from a flat to a vicarage!
An occupied building is less likely to be burgled so you are doing the landlord of the building a favour by looking after the property and it’s good news for you because you have accommodation for anything from a few month to a few year – win-win!
How much does it cost?
The monthly rent usually starts from £150 a month including bills, however I did see a few more expensive properties whilst researching. You could live in an empty fire station for £250 a month, or how about an old school for £240 a month?
This could be the perfect time to save up for a deposit to buy your own place.
How likely is it I will get a property
Property guardianship is quite popular and many companies have a waiting list – especially in and around London.
Are the properties in good state of repair?
Many are not because they have been empty for a while. Some have mould and damp, sometimes the heating system doesn’t work and I read one story this morning where a woman was living in a building which was due to be demolished so it wasn’t in a great condition and even had asbestos.
However I also read a lot of good stories and some people seemed to have struck gold and were able to live in very expensive, luxury houses for less than £250 per month including their gas, electricity and water rates.
Are there any other costs involved?
Many properties do not come furnished so you will have to buy furniture and white goods.
What happens when the landlord wants the building back?
You are given 28 days to move on, however most companies will do their best to find you an alternative property. Some of the buildings are house shares so you may be offered one of these.
Would you give property guardianship a go?
I don’t think it is suitable to do if you have children.