Private - and many young Brits are turning to guardian schemes instead. They move into abandoned homes, maybe for a month, maybe for years.
From the owner's point of view, an occupied building is less likely to be burgled or destroyed. As for the tenant? Cheap rent - as little as £150 a month.
But what’s it actually like to rent from a guardian scheme? We asked one renter in central London what she’d tell a prospective tenant:
I’d definitely recommend it because it is just so cheap. As a couple, we could never otherwise afford to live in a location like this. We have a two-bed flat in central London for £675 a month, and we’ve pretty much halved our living costs.
Quite often, you can’t see the properties until you are registered. Some guardian schemes have waiting lists. We Googled them, signed up for nine schemes and heard back from two.
Some places are quite run down. Expect mould, leaks, heating that doesn’t really work. You have to do a lot yourself. It took me a month to clean the kitchen.
We had to sign a disclaimer because there was asbestos in the floor and we can’t drill into it. Our previous place was quite creepy because the estate was half empty. I don’t know if I’d have felt that safe if I was living on my own.
It does take a certain personality. I have had a couple of friends who came over and were completely horrified. You've got to be prepared to decorate and clean yourself. It’s a bit of a project.
You may have to buy the white goods like washing machines and fridges yourself. We bought a washing machine, an oven and a fridge for £500, and we got a bed from my aunt. We also have to pay for an electricity and gas card.
We stayed in our last place three months, and we’ll definitely be in this place till November - possibly another two years more. You get 28 days notice and they do their best to rehouse you.
We’ll probably keep doing this until we can afford to buy somewhere. It’s a good way to save up. And I’m also just so happy not to be sharing with other people anymore.
Property guardians are 'legal squatters', who live in a building that would otherwise be empty. The owner of the property allows this because it reduces the chance of burglaries, damage or other types of squatters.
If you want to be a property guardian, you typically register with an agency (a number are listed below). Each agency will have rules you have to follow if you live in one of the properties. Although rent is cheap, you will still need to pay it - so make sure you understand the charges before you agree to rent somewhere.
If you don't fancy a guardian scheme, maybe you could lower your rent by offering childcare or helping a less able person. .