What Types of Reimbursement Requests Can I Submit Under Padder Lease Coverage?
Landlords protected by the Padder Lease Coverage guarantee can submit reimbursement requests for the following:
1. Initial Reimbursement Request
Following the instructions and timeline provided by Padder, the landlord may submit an Initial Reimbursement Request for pre-filing unpaid rent arrears, once written permission and instructions are provided by Padder, appropriate to the chosen remedial action.
2. Incremental Reimbursement Requests
Following the instructions and timeline provided by Padder for the landlord's chosen remedial action, the landlord may submit incremental reimbursement requests on a monthly basis for any post-filing unpaid rent amounts. These requests must comply with the eligibility criteria and instructions provided by Padder.
** Incremental Reimbursement Requests may not be applicable.
3. Final Reimbursement Request Submission
Following the instructions and timeline provided by Padder for the landlord's chosen remedial action, the landlord may submit a Final Reimbursement Request for total missed rent payments, legal and vacancy losses, and any other allowable costs.