Ben Franklin is often quoted as having said, “Do well by doing good.” Here at PadSplit, do well and do good has become our motto. Our business was founded in 2017 to help solve the affordable housing crisis—and in four years, we’ve become the country’s largest Co-Living marketplace designed specifically for the workforce.
PadSplit is determined to give the people who serve in our communities the opportunity to live in them, too. Our platform creates personalized weekly rent payments for easy budgeting and better financial health. PadSplit strives to give people more than just a roof over their heads—we want to empower our renters to feel confident and invest in themselves for a better, brighter future. Safe to say we’ve got the good part down.
And as for the well? PadSplit makes it as stress-free as possible for you to host your space and get renters in rooms, without any extra complication or cost. We advertise your listings, find residents, run criminal background checks, verify income and employment. Our goal is to create an extra source of income for you while leveraging an under-utilized space.
Because the entire process is managed by PadSplit, we lift the “landlord” label off your shoulders. We work with renters to resolve disputes and fill vacant rooms with suitable renters. Thanks to our reliable team and active outreach, we’ve successfully filled 90% of all Padsplit rentals, with an average tenure of eight months. These high occupancy rates minimize vacancy costs and provide you with a steady stream of income.
Our goal is to help you make more money without the headaches that often come with rental properties. Our thorough screening process has resulted in 95% of renters paying on time and in full. Plus, PadSplit has increased NOI by 2x for Hosts.. Think it’s too good to be true? Check out a few of our host success stories.
With PadSplit, cities are becoming more accessible to the people who work in them. So you really can make more money and do more good—our technology platform is making a positive economic impact on both renters and hosts. Not only have we housed over 6,000 people, but we’ve found a business method that allows both parties to succeed financially. It’s a win-win.