--- title: "Renter FAQ: Padder Guarantor and Padder Deposit" description: "Quick answers for renters: what Padder is, credit checks, cost, refunds, what you agree to and how to get help. Links to the full article for each topic." image: https://help.padder.com/hubfs/Partner_Brand_Centre/Padder_Link_Preview_1200x630.png --- [Skip to content](https://help.padder.com/padder-for-tenants-faq#main-content) [![Padder Logo](https://help.padder.com/hs-fs/hubfs/Padder%20Logo.png?width=250&height=72&name=Padder%20Logo.png)](https://help.padder.com) - [Help Centre](https://help.padder.com/) - [Claims Centre](https://resources.padder.com/claims) - [Contact support](https://resources.padder.com/support) Open main navigation Close main navigation - [Help Centre](https://help.padder.com/) - [Claims Centre](https://resources.padder.com/claims) - [Contact support](https://resources.padder.com/support) Search the Help Centre - There are no suggestions because the search field is empty. 1. [Padder Help Centre](https://help.padder.com/) 2. [Residential Tenant](https://help.padder.com/residential-tenant) 3. [Frequently Asked Questions](https://help.padder.com/residential-tenant#frequently-asked-questions) September 19, 2026 # Renter FAQ: Padder Guarantor and Padder Deposit ## Quick answers to the questions tenants ask most often about Padder Guarantor and Padder Deposit. ### Renting just got easier We have partnered with your landlord to help you move in. Here is what renters ask us most. **Who is Padder?** We are a fintech company that offers insurance products that give stronger protection for landlords and greater access to renters. Additionally, we are a licensed insurance broker, and partner with A-rated Canadian insurance carriers to provide the coverage you need. **What is Padder Guarantor?** An insurance policy alternative to a personal guarantor, so you don't need to ask family or friends. The policy reimburses your landlord for missed base rent, but it does not cover your monthly rent payments; you remain responsible for these. **What is Padder Deposit?** An insurance policy that replaces the last month's rent deposit. It helps your landlord recover the final month's base rent if it isn't paid at move-out. You remain responsible for all rent payments, including your final month. **Will this affect my credit?** No. Padder runs a soft credit check directly from Equifax, so your credit score is not affected. **What does it cost?** Padder Guarantor: a one-time premium of 30% to 130% of one month's rent. Padder Deposit: a one-time premium of 10% to 15% of one month's rent. **Do I get my payments back?** Padder premiums are not deposits. Your premium buys insurance coverage. It is refunded in full if you cancel before your lease is signed. Once your lease is signed the policy cannot be cancelled and the premium is not returned. **What am I agreeing to?** You remain responsible for your lease obligations. If the insurer pays your landlord for unpaid rent on your behalf, you must repay those amounts. This is a standard requirement of the policy, and Padder will work directly with you on a fair and flexible repayment plan. **Need help?** Paddie, our AI chat, is at help.padder.com any time and can hand you to a person when needed. Our team is on email Monday to Friday, 9am to 5pm ET: support@padder.com for your account or application, underwriting@padder.com for anything about your coverage or policy. **Looking for more detail?** Getting started: What is Padder? https://help.padder.com/what-is-padder | Padder Guarantor vs. Padder Deposit https://help.padder.com/padder-guarantor-vs-padder-deposit | Where is Padder available? https://help.padder.com/where-is-padder-available Applying: How to apply for Padder Guarantor https://help.padder.com/how-to-apply-padder-guarantor | How to apply for Padder Deposit https://help.padder.com/how-to-apply-padder-deposit | What documents do I need? https://help.padder.com/documents-needed | How long does approval take? https://help.padder.com/how-long-does-approval-take | Reapplying after a decline or expiry https://help.padder.com/reapplying-after-decline-or-expiry Cost and payment: How much does Padder Guarantor cost? https://help.padder.com/padder-guarantor-cost | How much does Padder Deposit cost? https://help.padder.com/padder-deposit-cost | Payment methods and billing https://help.padder.com/payment-methods-billing | Are Padder premiums refundable? https://help.padder.com/are-padder-premiums-refundable Coverage and your responsibilities: What does Padder Guarantor cover for my landlord? https://help.padder.com/what-does-padder-guarantor-cover-for-my-landlord | What does Padder Deposit cover? https://help.padder.com/what-does-padder-deposit-cover | What Padder does not cover https://help.padder.com/what-padder-does-not-cover | Do I still have to pay rent? https://help.padder.com/do-i-still-have-to-pay-rent | Understanding the indemnity agreement https://help.padder.com/understanding-indemnity | What happens if I miss rent or break my lease early? https://help.padder.com/miss-rent-break-lease Help: How to contact Padder support https://help.padder.com/contact-padder-support - [Residential Tenant](https://help.padder.com/residential-tenant#main-content) - [Start Here: About Padder & Your Options](https://help.padder.com/residential-tenant#start-here-about-padder-your-options) - [Padder Credit Builder](https://help.padder.com/residential-tenant#padder-credit-builder) - [Eligibility: Who Padder Is For](https://help.padder.com/residential-tenant#eligibility-who-padder-is-for) - [Coverage & Limits: What’s Protected](https://help.padder.com/residential-tenant#coverage-limits-whats-protected) - [Pricing, Payment & Refunds](https://help.padder.com/residential-tenant#pricing-payment-refunds) - [Applying to Padder: How the Process Works](https://help.padder.com/residential-tenant#applying-to-padder-how-the-process-works) - [Troubleshooting Your Application](https://help.padder.com/residential-tenant#troubleshooting-your-application) - [Your Responsibilities & the Indemnity Agreement](https://help.padder.com/residential-tenant#your-responsibilities-the-indemnity-agreement) - [Managing Your Policy: Changes, Transfers & Reapplying](https://help.padder.com/residential-tenant#managing-your-policy-changes-transfers-reapplying) - [Trust, Safety & Support](https://help.padder.com/residential-tenant#trust-safety-support) - [Frequently Asked Questions](https://help.padder.com/residential-tenant#frequently-asked-questions) - [Residential Operator](https://help.padder.com/residential-operator#main-content) - [Getting Started & Referrals](https://help.padder.com/residential-operator#getting-started-referrals) - [Coverage & Claims](https://help.padder.com/residential-operator#coverage-claims) - [Frequently Asked Questions](https://help.padder.com/residential-operator#frequently-asked-questions) - [Terms of use](https://padder.com/terms-of-use/) - [Privacy Policy](https://padder.com/privacy-policy/) - [Privacy Statement](https://resources.padder.com/privacy-statement) - [Disclosure Statement](https://resources.padder.com/disclosure-statement) - [Regulatory Disclosures](https://resources.padder.com/regulatory-disclosures) - [CISRO Conduct Sheet](https://www.cisro-ocra.com/Documents/View/2471) - [Broker Fact Sheet](https://www.ribo.com/wp-content/uploads/2025/01/RIBO_Conduct_Sheet_040622-fact_sheet-1.pdf) - [Contact us](https://resources.padder.com/support) [![Padder Logo](https://help.padder.com/hs-fs/hubfs/Padder%20Logo.png?width=180&height=52&name=Padder%20Logo.png "Padder Logo")](https://www.padder.com) Padder Underwriting Inc. is a licensed insurance broker headquartered in Toronto, Ontario. It arranges coverage for tenants and landlords in provinces where it is licensed to offer insurance products. Padder partners with licensed Canadian insurers to provide your coverage. Need help? Paddie, our AI chat, is here any time. Our team is on email and phone Monday to Friday, 9am to 5pm ET. © 2026 Padder Underwriting Inc. All rights reserved.