Scenario No. 1: You put your property on the market for sale. The property is vacant. Per COVID-19 guidelines you no longer do open houses, but showings per requests. Out of the blue, you get a call from your neighbor, “you had a big party on your property last night, did you rent it out or something?” WHAT!
Scenario No. 2: You just closed the deal on a residential property as an investment property.
The unit is currently vacant, listed and advertised 'available for rent'. Several days after, you get a call from someone who says, “I am interested in renting the 3-bedroom house, but do you still have people living in it. I drove by, and it looks like some people are living there.” WHAT!
These are situations that occurred before the COVID-19 crisis, but now it is becoming more common. As an owner, what can do to protect yourself? Often times, it becomes extremely difficult to remove illegal trespassers once they settle in your property. These trespassers may even have fake lease agreements or take out utility bills to make removal of them from the property challenging. My article will not discuss any legal remedy , but only to offer practical advice to how to reduce the risk of squatters/trespassers from my experience as a real-estate agent and homeowner.
Here Are Some Measures You Can Take Minimize Such Risk: