Understanding Padder Lease Coverage
Padder Lease Coverage is a modern leasing tool that eliminates the need for traditional security deposits and letters of credit, providing a flexible alternative for both landlords and tenants.
What is Padder Lease Coverage?
Padder replaces large upfront security deposits and letters of credit with a risk-managed, warranty-backed guarantee. Instead of requiring tenants to lock up thousands in cash, Padder provides landlords with a financial guarantee that protects against:
- Unpaid Rent Protection – Up to 12 months’ rent
- Legal/Remedial Action Fees – Up to $10,000
- Vacancy/Re-Leasing Costs – Up to 3 months' rent
For Tenants – Padder frees up capital for operational growth, improving leasing accessibility.
For Landlords – Padder provides financial security, reducing leasing risk and speeding up deal approvals.