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. Initial Engagement & Marketing

You agree that Padspin will have a 7-day window to market and rent your unit (“Initial Engagement Period”). During this period, you must remove or deactivate any existing advertisements for the unit, including but not limited to Zillow, Apartments.com, StreetEasy, Craigslist, or any other listing platforms, and you will not post new ads, sign broker agreements, or take any actions that limit Padspin’s ability to lease the unit. You may still rent the unit yourself or through a broker; however, any inquiry or application you receive must be immediately disclosed to Padspin. Failure to notify Padspin of an application or rental during the Initial Engagement Period will result in the full $800 leasing fee being owed to Padspin. Once Padspin notifies you that we have an applicant (who you will typically have already met through a showing), you agree not to accept or process any other applications until you have made a decision on the Padspin applicant. Our system is designed to rent your unit quickly, place a strong long-term tenant, and reduce vacancy loss. Padspin only gets paid if we successfully rent your unit, and we put the full weight of our platform and team behind that effort. After the Initial Engagement Period, either party may terminate Padspin’s future marketing efforts with written notice if the unit has not been rented by Padspin. If Padspin successfully rents the unit, the agreement continues for renewal support, and the landlord will be subject to Padspin’s renewal terms for as long as the Padspin-placed tenant remains in possession.

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 each year if the same tenant remains beyond the first year. This reflects the significant savings landlords enjoy by avoiding vacancy time, turnover costs such as painting, cleaning, and repairs, as well as the time and effort involved in finding a new tenant. For example, if a tenant stays two years, your total cost would be $1,150, which is still 70–80% less than a traditional broker fee. Just as importantly, this model keeps Padspin aligned with your goals. Our incentive is to place excellent long-term tenants who stay, rather than benefit from turnover like traditional broker models often do. At lease signing, you’ll simply complete Padspin’s automated renewal payment setup, which ensures renewal fees are handled seamlessly if you and the tenant decide to extend the lease.

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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