Search results

In the end what matters is whether or not there were arrears on the rent at time of takeover. I don't think the insurance company will care too much when you were notified. Some policies also do not cover tenancies where there is not 4 weeks' bond lodged. You'll need to read the wording.

Typically if the rental was in arrears on the day that coverage started, lost rent is not covered. You have to clear all arrears before coverage for non-payment starts.

I'd say this is your only hope. If the bond were released after contract and before settlement, I suspect you could argue it was a material change to the status of the property after signing of the contract. But the bond belongs to the tenant, not the landlord. It was never your property, so you...

Sounds like the tenants must have colluded with the previous owner. I'm glad I read this thread. Another risk to cover off if I ever buy with an existing tenant in place.