Rent in London for just £50 a week with this little-known property trick
Everyone knows renting a home in the capital city is a costly business, but there is a way to drastically cut those bills
EVEN if you've never lived in London you'll have heard about the infamous property prices in the city.
Renting alone prices a lot of people out of the market - in some swish areas of the capital just a room can cost as much as £250 a week.
While that's extreme, earlier this year a survey by HomeLet found the average cost of renting a flat or house in London is £346 weekly.
So it's unsurprising that many feel it's not an option for them, but that could be about to change.
There is a little-known way to drastically reduce those bills - become a home guardian.
The role sees people pay as little as £50 a week to live in a vacant property. It's beneficial to the renter because it's so cheap, but it works for the owner too as it means vandals and squatters will be kept at bay.
This is for you if you like a quirky property too, as often you'll find yourself in a disused school or old warehouse.
If you're really lucky you might even find your home is a multi-million pad which is currently sitting empty.
There are various ways to get a guardian gig, such as through one of the companies which sort them.
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While £50 a week is at the lower end of the scale, Dot Dot Dot suggests the upper cost is only about £95.
Of course there are some down sides - owners don't tend to give as much notice when they want their property back for one, so you might find yourself packing up at short notice.
It's likely others will be living at the house or flat too, so it's not for you if you dislike sharing.
Paul Simpson, 38, has been a guardian in London for three years and about living in a Croydon warehouse for £300 per month.
He's met advertising execs and doctors who live that way too, and it's helped him save thousands of pounds so he can start a martial arts business.
There are properties looking for guardians in other areas of the country too, or you could check out this list of places where you can buy a home for under £50,000.
This one-bedroom flat in Liverpool – described as “needing modernisation but ideal for a first time buyer” – was up for sale for just £1 last month. It sold for £26,500 at auction.