For residential lease defaults covered under the Padder Guarantor policy.
Padder Guarantor
If a qualified tenant under a Padder Guarantor policy has stopped paying rent, you may be eligible for reimbursement.
Before submitting a Notice of Tenant Default, please read and follow the steps below in order. Following the correct process and timelines is essential to remain eligible for reimbursement under the Padder Guarantor policy.
If a tenant covered by Padder Guarantor misses rent, follow these steps:
1. Enforce your lease
Take action under your standard enforcement process. Keep records of all steps and communication with the tenant.
2. Notify Padder
Submit a Notice of Tenant Default within 45 days of the missed rent using the Reimbursement Request Centre.
3. Padder Support
Padder will contact the tenant to attempt resolution and will provide updates to your team.
4. Submit a reimbursement request
Once you’ve regained legal possession:
- Re-list the unit within 7 days
- Submit your Final Reimbursement Request within 60 days using the Reimbursement Request Centre
- Provide the signed lease agreement, rent ledger, legal notices and decisions (e.g., N4, L1, LTB order), proof of re-listing, and other documents to support your claim.
5. Receive reimbursement
Padder will review your submission within 1–3 business days. If approved, payment is issued within 5–10 business days—up to your policy limit.
What does Padder Guarantor cover?
Padder Guarantor protects against lost base rent if a covered tenant defaults during the first 36 months of the lease.
Covered events include:
- Missed rent (up to 12 months)
- Lease abandonment (including reletting time)
- Failure to move in
- Holdover after lease end
Notice of Tenant Default
Submit your Notice of Tenant Default within 45 days of the tenant's default.
Final Reimbursement Form
Submit your reimbursement request within 60 days of regaining vacant possession of the unit.
