Why Do I Have to Pay When I Already Paid to Use Padder Guarantor?

By purchasing a Padder Guarantor bond, you agreed to cover the financial obligations under your lease. Here's why you may still need to pay:

1. Lease Obligations:

   • The bond covers your lease obligations, including paying rent and fees in full.

2. Default on Obligations:

   • If you default on these obligations and fail to pay your property, Padder steps in to cover the costs for the property.

3. Recovery of Costs:

   • Once Padder covers these costs, they assume the responsibility of recovering the amount from you. This ensures that the property is compensated for any unpaid rent.

Key Points to Remember:

• Padder Guarantor Bond: This bond provides financial assurance to the property, covering your obligations if you fail to meet them.
• Recovery Process: If Padder pays the property on your behalf due to your default, you are responsible for reimbursing Padder for those amounts.