What is Padder Guarantor?
Instead of asking a family member or friend to co-sign, you can use Padder Guarantor to help your landlord feel confident approving your application.
Padder Guarantor is an optional residential lease guarantee (a contractual liability insurance policy) that you, as the tenant, pay for.
When you buy a Padder Guarantor policy, your landlord is the beneficiary. That means the policy is designed to protect them against certain rent-related losses.
If something goes wrong with the tenancy, Padder Guarantor can reimburse your landlord (up to the policy limits) for eligible losses such as:
- Unpaid base rent
- Early lease breaks
- Failure to move in after the lease is signed
- Abandonment of the unit
- Staying past the end of the lease (holdover)
Important note: You still remain responsible for your lease obligations, including paying rent on time. If Padder pays your landlord under the policy, you’ll be required to repay Padder in line with your indemnity agreement.