It is estimated that there could be as many as 20,000 squatters in the UK and is more prevalent in domestic properties. It is imperative that adequate measures are put in place to prevent squatters from entering and taking ownership, as obtaining interim possession orders from the courts to remove squatters can take time as well as being significantly costly.
Property Managers and Residents’ Management Companies should be aware of this increasing problem and ensure that they have legal expenses cover as well as ensuring appropriate security measures, if these are not already in place. Remember as squatters in your property are a material change to the occupancy of your property, please remember to advise your Insurance Company of the change.
Many insurance policies automatically cover the costs for removal of squatters – ask your Insurance Intermediary to clarify of you have the cover.
