When and How to Notify Padder of a Tenant Default

1. Tenant Default Recognition (Day 1)

• Criteria for Default:
  • The tenant misses the full rent payment by the due date.
  • No alternative repayment agreement has been made.

2. Initial Communication with the Tenant (Days 1–15)

• Actions to Take:

  • Provide the tenant with an up-to-date account statement showing outstanding charges, fees, and payment deadlines as per the lease.
  • Attempt to negotiate repayment options (e.g., partial payments or a structured payment plan).
  • Document all communications, noting:
    • Dates of contact.
    • Tenant responses or lack thereof.
    • Any agreements or proposals.
  • Set a clear resolution deadline for the tenant.

• If Arrears Remain Unresolved:

  • Declare the tenant in default based on lease requirements.
  • Indicate your intention to take remedial action after either
    • 15 calendar days, or
    • the termination notice period specified in the lease, whichever comes first.

3. Notify Padder of the Tenant Default (Days 1–16)

• Steps to Notify Padder:

  • Complete the Tenant Default Notification Form via Padder’s Reimbursement Requests Portal.
  • Provide:
    • Landlord and tenant details.
    • Specifics of the unpaid rent and any planned remedial actions.
    • Supporting documentation (e.g., lease agreement, account statements, and notices).

• How to Submit:

  • Submit the completed Tenant Default Notification Form HERE to initiate the process.

For further assistance, contact Padder Support.