Rent Default Insurance
Included In BIRE Property Management
Landlord Rent Default Insurance covers the insured landlord for nonpayment of rent due to a tenant defaulting on their lease payment obligations. So, if a tenant defaults on rent the insurance will pay you the amount of rent you are owed under your lease agreement with the tenant, after you file a claim that fully complies with all the terms and conditions of the policy.
Rental Default Insurance is Covered for Standard, and Pro Property management. If a tenant defaults on rent the insurance will pay you the amount of rent you are owed under your lease agreement with the tenant up to 3 months.
- Tenant stops paying rent and is evicted from the rental unit
- Tenant abandons rental unit and disappears
- Tenant breaks up with boyfriend and decides to break the lease
- Tenant loses job and stops paying rent while remaining in the unit up to 60 days after the original lease expiration date
- Tenant dies and no one is left to pay rent
- Tenant is called for military service and has to break lease
- Tenant stops paying rent because the rental unit becomes uninhabitable or inaccessible due to damages to the property or the surroundings.
- Tenant breaks the lease because the landlord or property manager did not comply with the lease terms or with building codes
- Landlord and tenant collude to terminate the lease with specific intention of collecting insurance money
- Any loss of rent after the lease expires or after 60 days past the original lease expiration in cases where the tenant is intentionally refusing to vacate the premises
- Any tenant default arising or resulting from a catastrophic event, such as a natural disaster.
For Tenant Qualifications please email us at Cruz@email@example.com
Have anymore questions? Email us Cruz@biremanagement.com