Padder Lease Protection
For commercial lease defaults covered under the Padder Lease Protection warranty.
If a qualified tenant under a Padder Lease Protection warranty 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 Lease Protection warranty.
Our Reimbursement Processes is Simple:
- Follow your standard lease enforcement process when a tenant falls behind on rent.
- Submit a Tenant Default Notice Form (below) within 16 days of the missed rent payment.
- Padder will contact the tenant to attempt resolution and provide updates to your team.
- Submit an Initial Reimbursement Request Form (below) within 15 days of receiving Padder’s formal update regarding mitigation attempts with the tenant.
- Once tenancy ends (through eviction, mutual agreement, or abandonment) and you’ve regained possession, re-list the unit within 7 business days.
- If the tenant remains in the unit unlawfully (Holdover), submit a Monthly Continuation Form (below) every 30 days for ongoing support.
- Submit a Final Reimbursement Request Form (below), within 90 days of regaining vacant possession—or within 15 days of the unit being released, whichever comes first.
- Provide the signed lease agreement, rent ledger, legal notices and decisions, proof of re-listing, and other documents to support your reimbursement request.
Notice of Tenant Default
Initial Reimbursement Request Form
Submit your Notice of Tenant Default within 16 days of the tenant's default.
Submit your Initial Reimbursement Request Form within 15 days of receiving Padder’s formal update regarding mitigation attempts with your tenant.
Final Reimbursement Request Form
Monthly Continuation Form
Submit your Final Reimbursement Request Form within 90 days of regaining vacant possession—or within 15 days of the unit being re-leased, whichever comes first.
Submit your Monthly Continuation Form every 30 days, while the tenant remains in the unit unlawfully (Holdover) for ongoing support.
