A person that stays with you and doesn’t pay his share of rent, but receives the same benefits as if they already had (receiving showers, food, etcetera). May also be shortened to SWB.
Pluralised form: Squatters With Benefits.
Stephen, my brother, you are a squatter with benefits - you haven’t paid your fair share of rent for the past three months, soon to be four, so you’re going to need to be evicted from my property unless you can pay your rent for the months you have missed thus far.