Property guardianship offers significant savings but comes with trade-offs. Here's an honest assessment of the advantages and disadvantages to help you decide if it's right for you.
The Advantages
1. Significant Cost Savings
The primary benefit: guardian fees are typically 30-50% below market rent. In London, this could mean saving £500-£800 per month compared to renting a similar-sized space.
2. Unique Living Spaces
Where else could you live in a former fire station, Victorian school, or converted church? Guardian properties offer unusual spaces you'd never find on the rental market.
3. Flexibility
Unlike 12-month tenancy agreements, guardian licences are easier to leave. If you need to move quickly for work or personal reasons, the commitment is lower.
4. More Space
Commercial buildings often provide more space than residential flats. Former offices and schools can offer generous living areas, even if unconventional.
5. Lower Barriers to Entry
Guardian schemes often have simpler application processes than competitive rental markets. Fees are lower upfront than traditional deposits and agency fees.
6. Community
Many guardian properties house multiple people, creating ready-made communities. This can be ideal for people new to an area.
The Disadvantages
1. Less Security
This is the biggest trade-off. With notice periods as short as 28 days, you could be asked to leave quickly. Properties can be reclaimed with little warning when owners need them.
2. Fewer Legal Rights
As a licensee rather than a tenant, you don't have the protections of the Housing Act. You can't challenge eviction through housing tribunals, and deposits aren't protected by government schemes.
3. Variable Property Conditions
Not all guardian properties are comfortable. You might find basic kitchens, shared bathrooms, or buildings not designed for residential use. Heating and insulation can be issues in commercial buildings.
4. Restrictions
Most guardian schemes prohibit:
- Pets
- Children
- Long-term guests or partners staying over
- Alterations or decorating
- Running a business from the property
5. More Inspections
Guardian companies conduct regular inspections, often monthly. While they should give notice, this is more intrusive than typical landlord visits.
6. Location Uncertainty
Guardian properties are where empty buildings happen to be - often industrial areas or locations with poor transport links. You may have little choice in location.
7. No Housing Benefit
Guardians generally cannot claim housing benefit because they have a licence rather than a tenancy.
Quick Comparison
| Factor | Pro | Con |
|---|---|---|
| Cost | 30-50% savings | - |
| Security | - | 28-day notice |
| Space | Often generous | May be unconventional |
| Location | - | Limited choice |
| Flexibility | Easy to leave | May have to leave |
| Rights | - | Licence not tenancy |
Is It Worth It?
Property guardianship is worth considering if:
- You prioritise savings over stability
- You're in a transitional life phase
- You're comfortable with uncertainty
- You don't have dependents or pets
It's probably not right if:
- You need guaranteed long-term housing
- You have children or need housing benefit
- You need specific accessibility or location
- Uncertainty causes significant stress