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What is Padder?

Padder is a Canadian, licensed insurance intermediary offering residential insurance products that help renters move into great homes while giving landlords reliable protection against eligible rent-related losses if a tenant defaults on their lease obligations.

Who we are

Padder Underwriting Inc. is a licensed insurance intermediary (managing general agent) headquartered in Toronto, Ontario.

  • We work with institutional landlords and professional property managers to offer insurance products alongside their standard leasing process.

  • Padder manages the application, underwriting, and ongoing support for your insurance policy. Policies are issued by The Insurance Company of Prince Edward Island (ICPEI).

How we help renters and landlords

For renters

Padder is designed to help renters move forward with confidence when traditional screening can be a hurdle. Padder offers two residential products:

  • Padder Guarantor — a lease guarantee your landlord can rely on, designed to support renters including newcomers to Canada, students, self-employed renters, and renters building their credit history.

  • Padder Deposit — an option that can replace the upfront Last Month's Rent deposit with a smaller one-time premium.

With Padder, renters may be able to:

  • Move forward without arranging a traditional guarantor or co-signer

  • Reduce or replace large upfront cash requirements (like a Last Month's Rent deposit)

  • Pay a one-time insurance premium instead of tying up thousands of dollars at move-in

All Padder products are optional and subject to underwriting. Padder doesn't decide who gets the unit — your lease is always between you and your landlord.

For landlords

Landlords and property managers use Padder to:

  • Welcome more qualified renters while managing risk

  • Protect against unpaid base rent and certain lease default scenarios

  • Reduce bad debt, minimize vacancy losses, and stabilize building performance

There is no cost to the landlord for offering Padder; premiums are paid by the tenant.

Where Padder is currently available

Padder is currently offered through participating residential landlords and property managers in Ontario.

You can use Padder if:

  • Your landlord or leasing agent has referred you to Padder; or

  • Your building appears in the Padder application when you enter your property details.

If you're not sure whether your building participates, your leasing team or Padder Support can help.