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Do I still have to pay rent if I use Padder?

Yes. You are still fully responsible for paying your rent and following your lease.

Padder does not replace your rent. It doesn’t reduce it, pause it, or cover it for you month-to-month.

Both Padder Guarantor and Padder Deposit are insurance products designed to protect your landlord’s rental income — they are not subsidies or payment plans for tenants.

Padder is protection for your landlord

When you buy Padder:

  • You pay a one-time premium to put an insurance policy in place.
  • Your landlord becomes the beneficiary if something goes wrong and you default on your lease.
  • You still pay your full rent every month.

If everything goes smoothly and you meet all your obligations:

  • You pay your rent on time
  • You move out properly
  • No claim is made
  • You never owe Padder anything beyond that one-time premium/fee

What “lease default” actually means

A lease default happens when you don’t follow the key terms of your lease.
Common examples (subject to your lease and local tenancy laws) include:

  • Not paying your rent in full and on time
  • Repeated NSF / bounced payments
  • Moving out early and stopping rent payments before the end of your fixed term
  • Never moving in after signing the lease
  • Abandoning the unit without proper notice and without paying what you owe
  • Staying past your lease end (holdover) and not paying rent as required

If you default and your landlord suffers a covered loss (for example, unpaid base rent):

  1. Your landlord may submit a claim to Padder under the policy.
  2. If Padder pays your landlord for that covered loss, you then owe that amount to Padder under your indemnity agreement.