Landlords Insurance, squatting laws will only cover residential property
New laws due to be introduced in September are set to make squatting a criminal offence. However, experts have warned that the laws will not apply to commercial property and will only come into effect for residential properties.
New laws have been passed that will make squatting an illegal offence rather than a civil matter. Previously, squatting has not been illegal but once the new law comes into force next month it will carry a maximum 6 month prison sentence or up to a £5,000 fine. The changes mean that fewer home owners should have to enter into lengthy civil court battles in a bid to seek action against squatters.
Commercial Landlords Insurance still a necessity
However, experts have warned and critics have slammed the fact that the new law does not include squatting in commercial or non-residential properties. In these instances it will still be necessary to pursue a civil case which could take time and effort. However, the news is good for home owners and landlords who will benefit from being able to pursue legal action.
There are many ways in which your business can suffer as a landlord. A UK landlords insurance quote from The Insurance Octopus can offer a means of protecting you and your business against many of these perils.