When your tenant(s) defaults on rent send us a Pensio Notice of Default and we will pay the defaulted rent amount within 30 days of notice to us. You then must serve a Notice of Eviction within the first 30 days, and if you do, we will continue to pay you defaulted rent until the tenant has vacated or abandoned the property. The maximum loss of rent we will pay for a property for any one tenant is $60,000.