Guardianships in the UK
More people in the UK are turning to guardianships as a way to live in affordable accommodations in prime locations while saving money. The practice is unregulated and comes with fewer legal protections than renting, leading to inconveniences and hazards for residents. Guardianships are becoming increasingly popular as rents and property prices remain unaffordable for many, with applications soaring in recent years.
Key Points
- Growing demand for guardianships due to the cost-of-living crisis
- Guardianships are often in spacious buildings due for demolition or redevelopment
- Guardianships started in the Netherlands in the 1980s and have long attracted creatives
- More people in their thirties are signing up as guardians
- The UK housing crisis is driving people towards guardianships
Pros
- Provides affordable accommodation in prime locations
- Allows residents to save money compared to traditional renting
- Attracts people looking for unique living experiences
Cons
- Unregulated practice with fewer legal protections for residents
- Comes with inconveniences and hazards such as lack of drinkable tap water and rickety ceilings
- Residents can be asked to vacate with short notice