How would you like to live in a spacious Central London pad for £60 a week, all bills paid? If you are a flexible professional and have no pets or children, you could do just that by signing up with Camelot Property.

The company sources “guardians” to move into vacant properties across the country for stints of three months-plus. Homes range from suburban semis to sprawling castles and decommissioned fire stations.

The idea is that you keep the place in working order, deter squatters and spare the owner the cost of contract security. Stephen Davies, of Camelot, says: “Most guardians are youngish and want quality accommodation with minimum expense. The properties are shared by an average of five people.”

Among the placements now listed at www.camelotproperty.com are two in a detached house in Guildford, two in a farmhouse in Midlothian, sixteen in Chingford town hall and twenty in flats in Woolwich. Mr Davies says that the condition of properties varies – all are clean and safe, but some come unfurnished and in need of a good tidy.

The weekly cost depends on the property’s condition and location, ranging from £10 to £70 for quality digs in the capital. This includes utility bills and council tax. A fee of £50 is also charged on each placement, together with a refundable deposit of £300.

Prospective guardians are interviewed in person by Camelot staff and shown around each property. Mr Davies says that a suitable applicant can often be placed within a week.

He says that guardians can use the accommodation much as they would their own homes. However, all properties come with a number of rules and responsibilities and are checked at least once a month by an inspector, who holds a spare key. Smoking and house parties are out, and the space – including any communal and vacant areas – must be kept clean and tidy. Guardians waive all tenancy rights and can be asked to leave with only two weeks’ notice after the first three months. But Mr Davies says that most of those who want to find a new place with Camelot do so within days.

There is no rule against couples, but most guardians are single. “Couples tend to want their own place and children, which rules them out,” he says Those who are too settled for life as a guardian with Camelot may prefer occasional breaks as a home sitter. A number of websites recruit people willing to take care of the homes, and often pets, of people who are away on holiday or business for a few days or weeks. These placements, frequently in picturesque homes, tend to be paid, in most cases £9.66 a day. For more information, go to www.homesitters.co.uk.

CASE STUDY: More space and savings on rent

Jennifer Reinfrank, 30, has lived with 15 other people in a former young offender institution in Camberwell, in London, for the past six weeks. The building is a grand 19th-century villa and the actress is delighted with her large room, which costs £70 a week including bills.

Ms Reinfrank, originally from Germany, says that she is saving about £150 on the cost of renting and has more space and a prime location. “It’s great,” she says. “My only worry is how long we will be allowed to stay. I will definitely look at other Camelot options in the future.”