How to Integrate Padder into Your Leasing Process

Step 1: Create Your Padder Account

• Visit the Padder Commercial Portal.
• Click "Create Account" and choose your preferred sign-in option.
• Enter the required information.
• Verify your email: a code will be sent from notifications@accounts.dev. Enter the code to complete your setup.

Step 2: Add Your Commercial Properties

• Navigate to the "Add Rental Property" section.
• Enter the required property details.
• Click "Complete Enrollment".
• Return to your dashboard to manage your portfolio.

Tip: Add all your commercial properties for streamlined management.

Step 3: Educate Prospective and Existing Tenants

• Prospective Tenants:
  Introduce Padder during lease discussions before signing. Share marketing materials from the Padder Resource Centre.

• Existing Tenants:
  Offer Padder to replace their letter of credit or cash deposit. This provides:

  • Unpaid Rent: Coverage up to the agreed limit.
  • Legal and Remedial Action Fees: Up to $10,000.
  • Vacancy/Re-leasing Costs: Up to three months’ rent.

  This option frees up cash or credit for business growth. Tenants should first consult their bank about cancelling their letter of credit, then proceed.

Step 4: Invite Tenants to Apply

• In your Padder account, go to the "Add Lease" section.

  Enter Lease Details:

  • Building & Unit Information: Select the building and enter the unit number or name.
  • Lease Details: Enter total Sqft, amount per Sqft, maintenance per Sqft, yearly increase per Sqft, free rent (months), and prepaid rent (months).
  • Click "Continue."

  Choose Coverage Options:

  • Select a coverage period (6, 9, or 12 months) excluding prepaid rent, concessions, and security deposits.
  • Click "Continue."

  Enter Tenant Contact Information:

  • Provide the tenant’s email address. For multiple renters, click "Add Renters +" and add additional emails.
  • Click "Continue."

  Choose Rent Loss Protection:

  • Select the protection duration (12, 24, or 36 months).
  • Click "Continue."

  Copy Your Unique Lease Code:

  • Click the clipboard icon to copy the lease code.
  • Store the code safely for future reimbursement requests.

  Return to Dashboard.

• Quick Application Outcome:
  Tenant application results are provided within 24 business hours after submission.

Step 5: Tenant Agreement & Purchase

• Once approved, the tenant agrees to Padder’s terms and purchases the Lease Coverage guarantee.

Step 6: Finalise the Lease

• For Prospective Tenants:
  Complete the lease signing and include the Padder Addendum (available HERE in the Padder Resource Centre) in the lease.
• For Existing Tenants:
  Once approved, the tenant should coordinate with their bank to cancel their letter of credit, update lease records, and include the Padder Addendum.

Enjoy Enhanced Protection

Padder Lease Coverage provides comprehensive protection limits, offering unmatched security throughout the lease term.

By following these steps, you can efficiently integrate Padder’s Lease Coverage into your leasing process.

For further assistance, visit the Padder Resource Centre or contact Padder Support.