What is Padder Guarantor and how does it work?

Padder Guarantor is our innovative Guarantor-as-a-Service product designed to help renters who may not meet a landlord's income or credit requirements. Acting as a guarantor for the lease, Padder allows renters to qualify for apartments they otherwise might not be able to.

Here’s how it works:

• Premium Payment: The renter pays a premium to Padder for this service.
• Lease Guarantee: Padder acts as the guarantor, assuming the risk for the duration of the lease.
• Default Coverage: If the tenant defaults on their lease obligations, Padder will reimburse the landlord for any unpaid rent.
• Tenant Liability: The tenant remains liable to Padder for any reimbursed amounts.

Benefits for Renters:

• Accessibility: Renters who may not meet traditional income or credit requirements can still qualify for leases.
• Flexibility: Rent coverage can be used alongside a cash Last Month's Rent deposit.

Overall, Padder Guarantor offers a win-win solution for both renters and landlords, making the rental process smoother and more secure.