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How to Apply for Padder Deposit

Two ways to get Padder Deposit — through your Guarantor application, or as a shorter standalone application.

 How to Apply for Padder Deposit

There are two ways to get Padder Deposit, depending on how you're approved for your lease:

  1. Through a Padder Guarantor application, or

  2. Through a standalone Padder Deposit application.

In all cases, you apply for the unit with the landlord or property manager first. Padder comes in after they've reviewed your rental application.

Option 1: Through a Padder Guarantor application

If you're applying for Padder Guarantor and Padder Deposit is accepted at your property, you complete the Padder Guarantor application with your household. Once you're approved, Padder may also offer you the option to add Padder Deposit to that same lease at checkout, so you can replace a Last Month's Rent deposit with a one-time Padder Deposit premium.

Option 2: Standalone Padder Deposit application

If you've already been approved for the lease on your own (no Padder Guarantor needed) and your building offers Padder Deposit, you can use the standalone Padder Deposit application. It's shorter than the Guarantor application, and only one roommate — the primary applicant — completes it for the whole lease.

A note for the primary applicant:
in the standalone flow, the primary applicant secures the policy for the lease. If a claim is ever paid, repayment is the primary applicant's responsibility. Make sure you and your roommates are aligned on any cost-sharing before you proceed.

Standalone Padder Deposit — step by step

1. Apply with your landlord first

Start by applying for the unit with your landlord or property manager as normal. If they refer you to Padder Deposit after reviewing your application, follow the steps below.

2. Find your property

Go to Padder.com, select 'Sign Up' or 'Get Approved', and choose 'Padder Deposit' to start the standalone application. You'll enter the property or building you're renting so Padder can confirm it's set up for Padder Deposit.

3. Confirm your rent and deposit amount

Once your property is confirmed, you'll review your order: confirm your monthly base rent, and you'll see your one-time Padder Deposit premium for the lease. Only the primary applicant completes this for the entire lease.

4. Sign your agreement

Review your Padder Deposit policy agreement and key terms carefully, then sign electronically to accept. You can read what the policy covers and how it works in What does Padder Deposit cover?

5. Pay your premium

After signing, you'll pay your one-time premium through secure checkout. Once your payment is processed, your policy is set up for your lease and your landlord doesn't collect a Last Month's Rent deposit from you.

6. You're covered

Padder Deposit does not replace your rent — you still pay rent to your landlord every month as normal, including your final month. Once your policy is set up, your landlord receives confirmation that Padder Deposit is in place, and you can download your policy from your Padder account.

If anything about your lease changes before move-in (rent amount, dates, unit, or building), contact Padder support so we can confirm whether your policy needs to be updated or re-issued.