hi there,
we own a commerical property that we rent out to a restaurant business.
We have business insurance. As i understand, if there is damage to the building causing loss of rent then business insurance will cover us for this.
but what if the tenant stops paying rent ? is there a landlords commercial insurance i can get for this as i dont think business insurance covers it.
my worry is that the tenant's 5 yr lease has ended. (actually ended a few yrs ago) adn though we have encouraged them to sign a new lease, they havent. on one hand i want them to sign a new lease but then i dont want to push them too much bc i dont think business is going very well.
we own a commerical property that we rent out to a restaurant business.
We have business insurance. As i understand, if there is damage to the building causing loss of rent then business insurance will cover us for this.
but what if the tenant stops paying rent ? is there a landlords commercial insurance i can get for this as i dont think business insurance covers it.
my worry is that the tenant's 5 yr lease has ended. (actually ended a few yrs ago) adn though we have encouraged them to sign a new lease, they havent. on one hand i want them to sign a new lease but then i dont want to push them too much bc i dont think business is going very well.