Payment Schedule
Once a tenant is approved and their Padder Lease Protection terms are accepted, the landlord must issue payment using the link provided in the invoice from Padder.
Initial Payment
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Due Within 7 Days: Payment must be made within 7 days of receiving the invoice to activate the protection.
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Non-Refundable Fee: The one-time program fee secures the protection and can be listed as a line item in the tenant’s lease.
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Payment Plan Options: Monthly instalments may be available in select cases. If applicable, Padder will share these details after approval.
Annual Renewal
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Protection Renews Each Year: To keep protection active for the full lease term, protection must be renewed annually.
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Reminder Emails: You’ll receive a notice beginning 90 days before the renewal date.
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Auto-Pay Available: For stored payment methods (like credit cards), Padder may charge the renewal fee automatically.
Important
Please make sure your payment method is up to date and has enough funds to avoid any coverage delays.