Additionally you get notices for the agents license being suspended for back child support, student loan delinquency, license lapse renewal, not finishing CE credits in time, order to garner agents commission check for IRS owed back taxes they have and on and on.With 50 agents maybe 12 closings per month were happening at 300 transaction fees so 3,600 before costs and expenses to brokerage.

And I'm thinking quiet title would be after the one year redemption period has lapsed.  

Are you sure the landlord isn't asking you to add him as 'Additional Interest' which would mean he would be notified if your policy lapses or is cancelled?

Communication....never let it lapse for ANY reason. 

So as far as education goes I’m a former broker spent about 3 years licensed (mostly doing work for other brokers) but I’m familiar with how the whole process works and what not on transaction side.I let my license lapse because there are requirements I’ve found make people suspicious.

I guess since eventually offsetting, it doesn't matter, but if there is a lapse in timing (I'm billed quarterly and tenant has the choice to pay all at once or break up monthly), I want to be sure my end of year books are reflecting correctly.Thanks in advance.- Mike

Have you asked your mortgage company what happens if your insurance lapses?

There is nothing wrong with being empathetic about a person's situation if, in fact, it is a real hardship but never let rent lapse beyond a month because that snowball is going to keep getting bigger and out of control.

However, they do have to add me and the Landlord as "Additional Insured" to their personal policy so that we are provided proof of coverage and notified of any lapse in coverage.

Of course any decent mortgage document will have provisions for you to start foreclosure if insurance lapses.