UK squat a wake-up call for empty investment property owners
December 12, 2008 by Mark Pollak
photo credit: builtbydave
Owners of empty investment property – you have been warned. Keep an eye on it, particularly if it’s a £2 million protected home which once had royalty round for tea.
Around 12 people have started squatting in Fife House, Brighton, UK, after it was left unoccupied by the current owner, whose identity currently remains a mystery.
It’s a Grade I-listed beauty with stunning sea views which was once used as a holiday home by the sixth Duke of Devonshire and visited by King Edward VII. Inside are plush fixtures and fittings and even a toilet which was specially installed for his majesty’s past visits.
The new residents have put a sign up outside the house, thoughtfully declaring:
“We did not break anything when we entered and we have not damaged anything since.
“We have video and photographic evidence to prove this. We will respect and care for this property.”
- some scant reassurance, at least for whoever owns the place.
A neighbour told the curious members of the press:
“I have no complaints about their behaviour, there have been no mad parties, no noise, no nothing.”
Which does go to show, if someone does decide to park themselves in an empty property you own, it’s pot luck as to how they will treat the place until you manage to evict them.
Thanks to the global credit crunch and a slow market in many countries, properties are sometimes left vacant for longer and so the risk of someone walking in and putting their feet up increases.
Squatter’s habits and the processes of removing them varies from place to place, but as a rough guide, are as follows;
UK – landlord must apply to a county court for a possession order if they refuse to leave
USA – rules vary from one state to the next but squatting generally not tolerated for long periods. Contractual laws mean it is easy for owner to evict.
Middle East – Relatively rare in modern property. Little information on the topic.
India – Widespread issue - squatting often takes the form of unregulated home or shack building, particularly in places like Mumbai.
if you are in property investment i strongly suggest that you look at registering and tracking your assets on http://www.safeasset.org its a free application and i found it to be a really powerfull tool for asset reporting and tracking
I lived in the UK and was shocked that people would squat in very nice homes and literally set up a very comfortable lifestyle.
Here in Canada this is very very rare. You may get homeless people living in soon to be demolished properties, but nothing like in the UK