Does the use of the Insurent® Lease Guaranty mean that I cannot evict the tenant if he or she stops paying rent or breaches other provisions of their lease?
No. The Insurent® Lease Guaranty does not prevent a landlord or condo/co-op owner from commencing an eviction proceeding. Pursuant to the Lease Residual Value Policy, the landlord/owner must commence an eviction proceeding within 65 days of non-payment by the tenant. Utilization of Insurent®’s Lease Guaranty will not relieve a tenant of any obligations including the payment of rent. In addition, a tenant is liable to the insurance company for any claims paid to the landlord, and will be subject to legal action for the full recovery of any such payments. Please view the Tenant Participation Agreement for specific details.
Related Questions
- Does the use of the Insurent® Lease Guaranty Program mean that my client cannot be evicted if he or she stops paying rent or breaches any other provision of the lease?
- Does the use of the Insurent® Lease Guaranty mean that I cannot be evicted if I stop paying my rent or breach any other provision of the lease?
- What happens if a tenant stops paying the rent?
