Residential Operators

Padder Guarantor

• What is Padder Guarantor?
• How does Padder Guarantor work for landlords?
• What are the benefits of Padder Guarantor for landlords and property managers?
• How is Padder Guarantor different from a traditional co-signer or guarantor?
• Who typically applies for Padder Guarantor?
• Who qualifies to use Padder Guarantor?
• Can tenants who are new to Canada or self-employed apply for Padder Guarantor?
• Are there any applicants who would not qualify for Padder Guarantor?
• How Much Does Padder Guarantor Cost?
• Who pays for Padder Guarantor?
• Is the fee refundable?
• Are there any ongoing costs to the landlord?
• How can I introduce Padder Guarantor to my prospective tenants?
• Can I require a tenant to use Padder Guarantor instead of a last month’s rent deposit?
• How do I start accepting Padder Guarantor at my properties?
• Does Padder Guarantor work for all types of rental units?
• Do I need to change my leasing process to use Padder?
• Am I required to accept a tenant just because they are approved by Padder?
• What documents are required from the tenant during the application process?
• How long does it take for a tenant to get approved?
• Can a tenant apply before choosing a unit at my property?
• What’s the landlord onboarding process like?
• What if I want to use Padder but the tenant hasn’t applied yet?
• How can I track tenant applications and guarantee status?
• What does Padder Guarantor protect me against?
• Does Padder cover damage to the unit or only unpaid rent?
• Does Padder interfere with my right to evict or enforce the lease?
• What happens if a tenant defaults on rent?
• What steps does Padder take before a landlord can request reimbursement?
• How do I submit a reimbursement request?
• How long does it take to receive payment after submitting a request?
• How long is Padder Guarantor valid for each lease?
• Does Padder renew automatically with lease extensions or renewals?
• Who do I contact if I have questions or need help?