A top-floor, open-plan property in a trendy east London neighbourhood would usually set you back thousands of pounds a month in rent, but Luke Williams is paying a fraction of that.
The 45-year-old programme manager is one of a growing number of professionals turning to property guardianship – a housing arrangement whereby people live in vacant buildings in exchange for reduced rent.
What was once a lifestyle choice for twentysomething creatives happy to live more precarious lifestyles in exchange for bigger work spaces and community, is now attracting individuals from a range of professional backgrounds.
One in five property guardians work in medical, legal or accounting professions, according to data from the Property Guardian Providers Association (PGPA).
“It’s gone from this historical, creative, cool, self-employed type to people who are a bit older in full-time jobs, who are just looking to save money on their monthly costs. This has been shown by the increasing age of guardians signing up, going into their 40s and 50s,” said Arthur Duke, the founder and managing director of Live-in Guardians, a company that manages vacant properties and connects property owners with guardians.
Williams’s main room, complete with two home offices, a lounge area and enough empty floor space to cartwheel across three times, has the vibe of a bohemian, Manhattan-style loft apartment yet remnants of the property’s past life, including fire escape signs and a wall full of plug sockets, are everywhere.
“For me, it’s part of the appeal. I like the weird and the offbeat: the hand sanitiser, the whiteboard … the fact that a lot of these places you would walk past and not know they’re there,” said Williams, who works for a tech company.
Demand for guardianships has rocketed in recent years. Previous property guardians hosted by Duke’s company include former professional footballers, engineers, journalists, doctors, police officers and people working for the UN.
“We’ve even had a Bafta and Cannes film festival-winning documentary producer who lived in a former church” said Duke.
Daisy Mangan, 25, who works in insurance, and Rebecca Ludden, 24, a trainee lawyer, live together in a former pub in north-west London. They both came across the property via a post on Instagram.
“I was previously living in zone 4. It was a bit of a commute to work and I just wanted to be somewhere a bit more central,” said Mangan.
Like Williams, Mangan and Ludden enjoy the large space, as well as the history and quirks of the building, which is situated close to some of London’s most expensive townhouses. They’re also aware, however, that they could be asked to move out at any moment. Property guardians are typically only given 28 days’ notice to vacate a property.
“There are cons, but there are also pros … flexibility is actually quite useful in London. Like, if something were to happen and you’re tied in for a year, it makes it a bit more difficult,” said Mangan.
Williams, so far, has been lucky. He’s had his place for one and a half years, and it’s the property that’s felt most like home.
“[Live in Guardians] are good at working with you to find a new place … they’re not just like, get out, you’re on the street,” said Williams who has lived in four guardianships including a former classroom and a masonic lodge since 2022.
Ian Horton, 61, became a property guardian after selling his home in Dunstable in 2022 due to the uncertainty of Covid and the energy crisis. For the last eight months he has lived in a former pub in Bedford with his partner and two others.
“I was curious when the Fox and Hounds appeared as a potential new home. I knew I had to pursue it, even though I had never heard of guardians before, but I’m glad that I did. The big car park is ideal, as I have two vehicles. The large rooms are great for accommodating my stuff, with the bar area downstairs being great for storage,” said Horton.
Between 2022 and 2024, the number of applications from people seeking to become property guardians rose by 60% to more than 50,000 per year.
Graham Sievers, chair of the PGPA that represents three of the largest guardianship providers, believes the soaring demand is a result of the cost of living crisis and the rising costs of the private rental sector.
“Charging rents which take 40% plus of someone’s income is unsustainable. It’s uneconomic and it’s pushing people away from the private rental sector,” said Sievers.
“All the stories you hear about 30-year-olds still staying in their parents’ place because they can’t afford to move out … The opportunity for property guardianships is huge … it offers more affordable accommodation on a widespread basis.”