What are the main benefits of Padder Guarantor?

Padder Guarantor offers numerous advantages for both tenants and property managers, streamlining the leasing process and providing financial protection.

1. Replaces Individual Guarantors:

   • Tenants no longer need to find personal guarantors, simplifying their rental process.

2. Protects Property Managers from Rent Loss:

   • Provides a safeguard against rent loss due to tenant default, ensuring consistent income.

3. Network Access Fee:

   • Landlords gain a secondary revenue stream when residents sign up for Padder Guarantor, turning the hassle of guarantors into an ancillary revenue opportunity.

4. Cost Savings:

   • Evictions and bad debt can cost landlords thousands of dollars. Padder Guarantor protects the bottom line by covering missed rent and minimizing financial losses.

5. Increased Leasing Velocity:

   • By mitigating financial risk, Padder Guarantor enables property managers to lease units more quickly and efficiently.

6. Attract More Residents:

   • Landlords can approve a wider range of tenants, including students, foreign nationals, and self-employed individuals, who might otherwise struggle to meet traditional leasing criteria.

7. Fast Processing:

   • Save time and resources by letting Padder handle the administrative work of qualifying guarantors, allowing property managers to focus on growing their business.

8. Better Coverage:

   • Padder Guarantor covers incidents ranging from broken leases to lost rent. Landlords are immediately indemnified for rent loss during the coverage term, providing peace of mind and financial stability.