We are different in a few important ways:
As you probably already know, the typical broker fee in New York is 15% of an entire year's rent. That means for a $2000/month apartment, you'll write a check for $3,600 to a broker. The cost, of course, only goes up as the monthly rent increases.
With Padspin, you pay a one-time $400 service charge to coordinate your viewing(s), conduct a screening, and process your reservation. We only charge this fee if your are able to sign a lease on an apartment you find through our site. (see below for more information about our refund policy).
Good question. "No-fee" is often a bit misleading, as the fee is really just hidden in your monthly rent. This practice is common for larger or luxury buildings. They, rather than you, pay the brokers, but the cost gets passed on to you in the form of higher rent.
At Padspin, because we work directly with the landlord, we eliminate the fee. There's no expensive broker anywhere in the process who needs to be paid for you to move in.
Padspin will double-check your viewing time with the person showing the apartment and then provide you a viewing confirmation with further instructions.
If you liked it and want to apply, let us know as soon as possible. We will let you know how to reserve it, then put you in touch with the landlord to apply.
If you application is not approved, just contact us and we will be happy to provide a full refund.
Please note: Unfortunately, we cannot refund the Padspin service charge in the event that you reserve and apartment but change your mind about moving forward with the application or leasing process. We understand that sometimes circumstances change, but because we take the apartment off the market when it is reserved, it impacts the landlord and our other users if you are unable to proceed with the application process.
If you have additional questions or concerns about our refund policy, please let us know.
You bet! We've helped our users move to New York from all over the world. We've even arranged virtual showings for users who couldn't come to the city to see an apartment they were interested it. Reach out to us if you need any extra help.
Padspin's main goal (other than saving our users money) is to help landlords avoid vacancy gaps by making it easier to fill their apartments quickly. We believe that there are two main reasons that unintended vacancy gaps happen:
Padspin addresses these issues by overseeing the entire rental process and drastically reducing move-in costs for tenants, resulting in a win-win for landlords and their tenants.
Padspin provides these services:
Nothing. Padspin is free for landlords.
Click the "Post Pad" link on the menu at the top of the screen. You'll need to create an account to post.
Yes, we frequently help people who need to get out of their leases by marketing their apartment on Padspin and other rental websites, and pre-screening and scheduling interested replacement tenants, as well as making sure they understand the process.
To get started, create an account and then click "Post Pad" on the top menu.
Please note: We can only accept your listings if your landlord will allow you to do a "lease assignment" or is willing to start a new long-term lease with the replacement tenant. Please check with your landlord before posting! Additionally, we do not accept listings for sublets.