There are many ways to keep your property secure when your away traveling, but we have personally used property guardians to help keep our house secure from squatters. But what exactly are property guardians, and how does it work? In this post we”ll discuss what they are and how it works.
Property guardians have become an increasingly popular way of keeping vacant properties from squatters, but what exactly are these guardians and how do you become one? Property guardians are described as people that pay cheaper rentals to live and stay in empty properties that might be an empty commercial-building or a residential home.
The property guardians are different from the normal renters, in the way that “rent” that they pay is dramatically lower.
Property guardians are also called “legal squatters”, as it offers them a way to live some where without having to live on the streets.
This process works when the “guardian” pays for a license to rent a room in a space or a room in the building or a house, and this amount is far less when compared to private rental agreements. This results in the owner of a building earning a bit of money while keeping real squatters away.
The property guardian numbers have risen in the last few years, mainly due to the dramatic increase in housing costs in the UK. It is predicted that by 2020, the 1st-time home buyers will require a minimum salary of £64,000, along with a minimum deposit of £46,000 to purchase a property. The prices to buy homes will continue to rise in the UK, where at the moment it costs around £202,436 to purchase an average house. In addition, renting has also become challenging since the rental costs averages also carry on increasing.
For example, average costs for monthly rentals is £764, while in London the rentals double to around £1,543. These numbers continue to rise, which is why it has become even more difficult for the renters to save for deposits in order to purchase their own homes.
On the other hand, the property guardians, usually pay at least ½ of the standard rental fee, which is probably the primary reason as to why the property guardianship continues to rise drastically. As mentioned above, they will typically stay in a vacant property and are the type of properties that are waiting on planning permissions, in order for the structure to be changed or demolished.
This has resulted in many different property types now available for the purposes of guardianship which include offices, pubs, churches, police stations, fire stations, hotels and schools. If you are interested in property guardianship, there are even agencies that match up guardians with the different properties. These agencies include Ad Hoc Property Management, Dot Dot Dot, Camelot, Live In Guardians and VPS-Guardians.
Requirements To Become A Property Guardian
Different agencies will have differing requirements, yet mostly you will have to have a job or employment without pets or dependencies. Most agencies will require that you will need to be able to move just about immediately and will usually not accept individuals that smoke or that want to use the property for hosting parties. Some of the agencies will not accept undergraduate students, which is why you need to check with the different agencies in order to find out about their specifications to ensure you match up to the requirements.
Camelot, states that 42% of the property guardians that they place are between 36 to 65 years of age. 47% of the guardians are between 26 to 35 and 11% between 18 to 35 years of age, Live In Guardians states that the majority of the guardians that they place are either in their 1st or 2nd professional job and become guardians so they are able to save up for a deposit to buy a home. Of course, there are also many people that are interested in becoming guardians because they don’t see the point of spending 80% of what they earn on rent and prefer spending their money on a social life.
The Drawbacks Of Being A Property Guardian
The primary drawback of property guardians is the fact that you are not really a tenant, which means you will not have an agreement in place or rights which are associated with these agreements. When the owner needs the building or home back you will be forced to leave with short-notice, not like the 6-months you are offered with the majority of tenancy agreements. If the owner needs, you to move then you will only have a short notice to do so and not the 6 months in most tenancy agreements.
Here we have discussed what property guardians are along with the pros and cons of becoming one. Make sure you find out m ore before you make the final decision on whether this type of opportunity is for you. For further tips for keeping your home safe checkout this blog post.