Are Property Guardians The Solution For Empty Property?

With countless retail, leisure and hospitality tenants currently struggling and some office occupiers looking to go fully remote, we may well see an increase in the number of empty commercial properties in the coming months. Property guardians might be one option to reduce the risk of squatters and vandalism, as well as reducing liability for void costs and business rates. However, this option is not without risk and is certainly not the simple “win-win” scenario often portrayed. So what do property owners need to consider about such arrangements?

What are property guardians?

A property guardian arrangement is usually made with a company which in turn grants rights to individuals (known as “guardians”) to live in a particular vacant property. Those individuals usually occupy under a short-term licence terminable on relatively short notice and pay a low rent in return for fairly basic facilities.