rent loss insurance

Definition

A policy that covers loss of rent or rental value for a landlord due to any condition that renders the leased premises inhabitable, thereby excusing the tenant from paying rent.

Use rent loss insurance in a sentence

You may want to take on some rent loss insurance so that you know you will be covered in the future.

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We took out a generous rent loss insurance policy, just to cover ourselves in case of any unforeseen events that may occur in the future.

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After pipes burst in three of their apartment units and left them uninhabitable, the property company used their rent loss insurance until the apartments could be repaired and re-leased.

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