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According to ""Showhomes"":http://www.showhomesfranchise.com, a nationally franchised network of home stagers based in Tennessee, staging a vacant home can keep squatters from moving in, a rising[IMAGE]
problem in the struggling housing market. A total of 19 million homes were vacant in the first quarter of 2010, reports the U.S. Census Bureau.
Squatters are even occupying million-dollar homes in what has been called ""mansion squatting."" A woman was recently arrested for squatting in a $3.3 million home in
[COLUMN_BREAK]Seattle, while a Chicago man moved into a vacant $700,000 home, introducing himself to neighbors as the new owner before he was caught. Actor Randy Quaid and his wife were caught squatting inside a $1 million property they previously owned in Southern California.
Allowing a home to sit vacant is ""playing with a grenade,"" said Matt Kelton, COO for Showhomes. ""Major carriers cancel policies on vacant homes after 30 or 60 days, often without warning, leaving the home uninsured,"" he said. ""Some companies underwrite vacant home policies, which don't offer full coverage and cost up to 400 percent more than a traditional homeowner's policy.""
Damage and vandalism caused by a squatter is often not covered by homeowner's insurance if the home is vacant, Kelton points out. The solution, he says, is to stage the home and hire a live-in home manager.
Showhomes uses live-in managers to keep homes prepped for showings and act as on-site caretakers. The home's owners qualify for reduced insurance rates with better coverage than vacant home policies provide. The live-in managers can also help homes sell faster and for higher prices, according to the company.
