is there insurance for income loss due to broken lease

mrbillthomas · Joined: 22 Nov 2007 Posts: 1 1.00 Dollars($)

loss of income ,because renters broke lease and moved out

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello Mrbillthomas,

Why has your tenant broken the lease? Is your property not in a good condition?

The rent loss insurance could come to your help if you lose your income from rent due to damaged property. But that should have been done when you had purchased the property.

You may find more information on this insurance here at http://www.mortgagefit.com/rent-insurance.html
You may have a look at it.

There are insurances that cover loss of rent due to some accidents like fire. In this case the tenant has to legitimately break the lease agreement as a direct result of the disaster.

Guest 0.10 Dollars($)

I am looking for info on loss of income ,when someone breaks a lease and leaves for personal reasons,not because the unit is damaged.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Mrbillthomas,

I think the rent loss insurance is only applicable if the house is damaged due to fire or other hazards. It may not be applicable if your tenant breaks a lease and leaves for personal reasons. You can sue against him as he breaks the lease.

Thanks,
Larry

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