The vibrancy and vast scale of London is well known. With approximately 100 million people passing through each year, to go with the eight million who already live there, the flexibility of the property market, and in particular the short term rental market is a key part of London life.
An influx of tourists, prepared to brave whatever weather London conjures up, as well as the constant myriad of people seeking short to medium length work in London, means that the short term rental market often has greater demand than is available.
These pressures grow particularly intense in the summer months, as demand peaks. Furthermore with house prices rising by an average of 20% in London during the past two years, options for customers are limited, or at best costly. The current situation may benefit landlords, but discriminates against those seeking to enjoy the perks and opportunities London has to offer.
The typical way to find cheap short term rentals in the past has been to compromise on the quality of property. This means having to live in sub-standard accommodation, or having to move somewhere further away from urban hotspots, increasing the length of commutes and travelling times.
There is a clear and present need for innovation into a market becoming increasingly saturated and stale. As bleak as the situation may appear for those looking for short term rentals in London, there are inventive ways to get around this problem without necessarily having to settle for less. Short term rental properties may well soon find themselves a thing of the past, as guardianship offers an unorthodox yet cheaper option for those seeking short term accommodation.
This approach is ideal for the UK capital, with its diversity of architecture and large number of empty buildings (often originally intended for a wholly different purpose); the creativity of Ad Hoc means almost any building can be turned into a home for someone. This has already been the case with former schools, hospitals, care homes, offices, churches and leisure centres all over Europe.
What this solution means for London, is that individuals looking for summer work, travellers who frequent London, staycation tourists and others who would usually seek short term rentals in London are empowered and given a fresh alternative to the short term rental system, which does not result in their wallets or purses becoming significantly lighter.