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Where a tenant fails to make rent payments or falls behind on them, they can be said to be in default. Default on payment of rent can lead in turn to a landlord being unable to make their mortgage payments, thereby threatening their property interest.

If you're renting out your property then you need to check with your provider that your home buildings insurance will still be valid. Usually, you need to take out a specific landlord insurance policy, which can include buildings insurance, landlords' contents insurance and property owners' liability insurance.

How Much Does Rental Property Insurance Cost in BC? Rental Property Insurance LocationMonthly PriceHouse$94Condo$39Seasonal Home$262

An ?accrued loss of rents? is easily understood: when a building is damaged so that a tenant stops paying rent, then that loss of income can be claimed under this coverage. ?Loss of rents? then is where no rent is being received and no tenant owes rent.

A civil lawsuit is a case in which a person or business asks for money or property from another. The party who brings the lawsuit is called the plaintiff and the party against whom the lawsuit is brought is called the defendant. Any Virginia resident, including corporations, can sue or be sued in GDC.

Five days' notice is required to the opposing party and the court. Motions may be typed by either party, may be filed on the General Notice and Motion Form or may be filed on one of the appropriate forms provided by the Supreme Court of Virginia (located here).