There’s a rising trend going on in the UK, and it looks like the trend is bound to continue for a long time. It’s guardianship – the legal arrangement between the owner of a vacant property, the guardian agency, and the guardian himself. In essence, a guardian agrees to live on otherwise vacant premises, taking care of the property, and in return is burdened with only a fraction of the rent they would otherwise pay were they not taking care of the property. It’s a win-win for all. The agency gets commission, the guardian quickly increases their savings, and the property owner sleeps better at night. It’s a new phenomenon that’s taking root. But why would that be? Here are the top reasons why there is an increase in property guardianship in the UK.
· Vacant property abounds
The prolonged economic downturn caused a lot of properties to become vacant. The buildings are often business premises – and the business has had to close down. Sometimes, the properties are office buildings, as modern mobility and communication technology is making the traditional office space redundant and unnecessary for many business models. Pubs have been affected as well. Retail facilities, public buildings without restoration budgets – you name it, there are vacant properties everywhere.
· Property crime is rampant
All manners of crime can affect the cost or value of property. Vacant property is often the target for vandals, street artists, squatters, metal thieves, and other people who seek to gain advantage from property that doesn’t belong to them. Property crime is on the rise – for the simple fact that vacant properties are simple and easy targets. The current laws are also very lenient with offenders. Squatters, for example, commit a civil offense – not a criminal one.
· Large property demand
Despite the negative economic trends, property prices have shot through the roof. The recent average amount of rent in London is £1,140 per month – very high prices for those who aim to put some of their money on the side in a savings account. Property is valued. This influences the demand for guardianship in two ways: property is important and owners want their property protected, and high rent means there are plenty of young, responsible applicants qualified for the guardianship programme.
Those are the three main factors for the rise in property guardianship – and it looks like all three factors are not about to change very soon. In fact, chances are that tougher economic conditions will create more vacant property, create more crime, and increase the demand on the rental market. Property guardians offer an all-round solution. In fact, property guardianship is proof that in every problem there is great opportunity.