An open-plan apartment on the top floor of a fashionable east London neighborhood would typically command a hefty monthly rent in the thousands, yet Luke Williams is paying merely a fraction of that amount.

At 45, this program manager is part of an increasing trend among professionals opting for property guardianship—a unique housing arrangement that allows individuals to reside in unoccupied buildings in exchange for significantly lower rent.

What began as a lifestyle choice for young creatives in their 20s, who were willing to embrace a more uncertain living situation for larger workspaces and a sense of community, is now appealing to a diverse array of professionals.

Data from the Property Guardian Providers Association (PGPA) reveals that 20% of property guardians come from fields such as medicine, law, or accounting.

Arthur Duke, the founder and managing director of Live-in Guardians, a company that facilitates the connection between property owners and guardians, remarked, “The demographic has shifted from predominantly young, self-employed creatives to older individuals in stable careers who are simply looking to cut down on their monthly expenses, as evidenced by the increasing age of guardians now reaching their 40s and 50s.”

Williams’s primary space, which includes two home offices, a cozy lounge area, and ample open floor space, exudes the atmosphere of a bohemian loft reminiscent of Manhattan. However, signs of the building’s previous life, such as fire escape indicators and a wall filled with electrical outlets, are present throughout.

“For me, that adds to its charm. I’m drawn to the quirky and unconventional aspects: items like the hand sanitizer and whiteboard … the fact that many of these places are hidden in plain sight,” noted Williams, who is employed by a tech firm.

Demand for property guardianships has surged in recent years.

Duke’s company has previously accommodated a variety of guardians, including former professional athletes, engineers, journalists, medical professionals, law enforcement officers, and individuals affiliated with the UN.

“We even had a documentary producer who won both a Bafta and Cannes award residing in a converted church,” Duke mentioned.

Daisy Mangan, 25, who works in the insurance sector, and her roommate Rebecca Ludden, 24, a law trainee, share a former pub in north-west London, having discovered the opportunity through an Instagram post.

“I used to live in zone 4, which meant a lengthy commute to work, and I wanted a more central location,” explained Mangan.

Similar to Williams, Mangan and Ludden appreciate the spaciousness and character of their home, which is situated near some of London’s priciest residences.

Nonetheless, they are cognizant of the potential for being asked to leave with little notice, as property guardians typically receive only a 28-day period to vacate.

“There are downsides, but also advantages … that flexibility can be quite beneficial in London. If something unexpected occurs and you’re locked into a year-long lease, it complicates matters,” added Mangan.

As for Williams, he has been fortunate. He has enjoyed living in his current place for a year and a half, describing it as the most homely environment he’s experienced.

“[Live-in Guardians] are supportive when it comes to helping you find a new place… they’re not just going to throw you out onto the streets,” said Williams, who has experienced four different guardianships since 2022, including a former classroom and a Masonic lodge.

Ian Horton, 61, became a property guardian after selling his home in Dunstable in 2022 due to the uncertainties brought about by COVID-19 and the energy crisis. For the past eight months, he has resided in a former pub in Bedford alongside his partner and two others.

“When the Fox and Hounds became available, I knew I had to jump on it, even though I was unfamiliar with guardianship. I’m really glad I took that step … The spacious parking lot is perfect, as I own two vehicles, and the large rooms provide ample storage, particularly with the downstairs bar area,” Horton shared.

Between 2022 and 2024, requests from individuals wanting to become property guardians rose by 60%, exceeding 50,000 annually.

Graham Sievers, chair of the PGPA, which represents three of the largest providers in the guardianship sector, attributes the soaring interest to the ongoing cost of living crisis and increased expenses in the private rental market.

“Rental prices that consume more than 40% of someone’s income simply aren’t viable; they’re unaffordable and are driving people away from private renting. Many stories exist of 30-somethings still living with their parents because they can’t afford to move out … the possibilities for property guardianships are immense … it presents a more economical housing solution on a large scale,” Sievers stated.