Hi everyone.I'm about to come into a chunk of money that is unexpected backpay for the last couple years due to a lapse in the payroll company my employer uses. 

In Virginia, for example, if I state renter's insurance is required and the cost plus security deposit does not exceed 2 months' rent, I can purchase it if my tenant does not provide proper proof or if tenant lets it lapse (some will turn the paper in, then cancel the policy to get a refund), and charge them for it.  

@Eric Devall not sure how it works in LA but if he is on a month to month serve him a notice to quit for lapse in time.

The vast majority of the time, these insurances are never paying death benefit as they are lapsing before you die.

You would then be notified if the policy lapses or is cancelled.

Otherwise, if you decide to call them back to make an offer do not let much time lapse. 

But on the bright side, I had a few folks check into it and it'll be fixable before it lapses.

I had a momentary dream of vacation rentals in Lake Placid... also passed by the ski jump Centre.

If your area has time lapse photos available, on the left hand corner you will see "New."5.

But unfortunately, now the owner, who is still residing in the place, decides she is not going to go through the short sale unless I agree to rent the place back to her, thus, no lapse in time.