What is the first step to follow when a resident who purchased Padder Guarantor moves out of your community?

When a resident who purchased Padder Guarantor moves out, follow these steps:

1. Document the Move-Out Process:

   • Follow your normal move-out procedures.
   • Document any damages with photos.

2. Send the Final Account Statement:

   • Prepare and send the resident their final account statement.
   • Include details of any damages, owed rent, owed utilities, and general move-out costs, just as you would if they had put down a traditional refundable deposit.

Reminder: Even with Padder Guarantor, residents are still responsible for treating their unit with care and leaving the community in good financial standing, similar to a refundable deposit scenario.