Padspin: Most Affordable Apartments For Rent in NYC, Los Angeles, Philadelphia & Boston.

This Agreement supplements the (the “TOS”) and defines how Padspin works with Landlords to market, lease, and renew rental properties efficiently.

1. Marketing & Rental Timeline

You agree that Padspin has 14 days to market and rent your unit. During this period, you will not sign an exclusive agreement with any agent or property manager or otherwise restrict Padspin’s ability to lease your unit. You may still rent it yourself or through a broker or agent, but you must notify Padspin immediately if you receive an application so we can pause marketing efforts. After the 14 days, either party may extend or terminate the agreement with written notice.

2. Only $800 if we rent it

No-Rent, No-Fee: If we don’t rent your unit, there’s no charge. 1st time Leasing Fee: $800 if Padspin rents your unit. Screening/Admin Fee: Renters may pay a small fee to cover background checks and processing, helping reduce landlord costs.

3. Application Review

All Padspin rental applications are subject to Padspin’s final review to protect you from potential issues uncovered during the application process.

4. $350 Renewal Fee & Value

A $350 renewal fee applies annually if the same tenant stays beyond the first year. This fee reflects the thousands of dollars you save by avoiding vacancy costs, turnover expenses (painting, cleaning, repairs), and the stress and time involved in finding a new tenant. If a tenant stays two years, your total cost is $1,150, which is still 70–80% cheaper than any broker. This model also keeps us incentivized to place excellent, long-term tenants—unlike brokers, who profit more when there’s turnover.

5. Proactive Renewal Support

Padspin contacts all tenants we’ve placed three (3) months before lease end to confirm renewal or move-out plans. If they’re leaving and you’d like our help, we’ll secure a new renter early to avoid vacancy rent loss.

6. Breach

If these terms are not upheld, the landlord will be responsible for Padspin’s $800 initial rental fee, any applicable $350 lease renewal fees, and all related costs, including attorney’s fees. Unpaid balances may be referred to a collection agency. Padspin delivers these services at a substantial discount—placing highly qualified, long-term tenants in days, reducing vacancy costs, eliminating costly broker fees, and maximizing rental income. We save landlords thousands while securing better tenants, faster. Just as you expect tenants to honor their leases, we rely on landlords to honor their agreements with us.

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