Payments

PadSplit uses a “10 days + 8%” fee model. Any time a Member moves in, we keep a booking fee, or 100% of the first 10 days of their stay. After that, PadSplit takes 8% of all transactions.    What if

When a PadSplit Member is terminated, they are required to move out of the property. Additionally, their payment portal is closed immediately, preventing them from making any further payments. This is

In this article, we will give an overview of how Member financials work.   What payment options are Members given at booking?  Members can choose their Dues Day (day of the week their payment is due)

Everyone needs a hand every once in awhile, and we’ve found that a bit of help can go a long way towards increasing Member tenure and preventing a costly eviction.  A Member will always be placed in o

There are multiple ways to understand the financial situation of a Member. We highly recommend reviewing the 'Members tab' on your dashboard. On this tab, a Host can filter Members by financial status

Everyone needs a hand every once in a while and we’ve found that a little help can go a long way towards preventing a costly eviction and increasing Member tenure. Hosts can now help prevent a Member’

Hosts can find Member collection details for each monthly Host payout in the CSV file available for download in the Earnings tab.The CSV file contains Member transaction data (Member bills, Member pay

PadSplit collects the necessary fields featured within a W-9 to generate 1099-MISC forms for Host earnings. We are generally required to file a Form 1099-MISC report with the IRS if the gross amount o

Members pay electronically on the PadSplit site using credit, debit or bank transfer. At no point should PadSplit Members be asked to pay outside of the platform, and any such request will result in r

PadSplit Host Payouts are processed after the conclusion of each month. Hosts can expect to receive their monthly payouts by the 3rd business day of each month. PadSplit Hosts that utilize Two Keys Pr

PadSplit is a marketplace that lists, markets and assists with co-living. We do not guarantee rent payments.

PadSplit Members value the flexibility of our housing. Members who decide to leave PadSplit can schedule their move-out date on their Member dashboard. As a Host, you will be notified via email when a

PadSplit's cancellation policy maintains flexibility for Members and proper compensation for Hosts. Members are able to cancel a move-in up to 8:00pm EST the day before. Refunds are issued based on th

We understand that economic conditions sometimes necessitate room rate increases. In order to comply with the law and protect affordable housing for our Members, room rate increases can only be enacte

The totals shown on the Host Dashboard reflect the gross income and net host earnings for a property for all past periods; the amount paid out is equal to the net host earnings.  Current and future mo

Depending on the Member’s dues date, you may see a difference in the amount billed versus the amount collected. There is a natural lag between billing and collections. PadSplit bills before the dues d

Bills include everything PadSplit charges for: the weekly rate, move-in fees, fines (such as late fees and rule violations), etc. What gets paid out to the Host is not necessarily the bills issued in

It is possible to see negative bills and negative collections. Both can happen either at the same time or independently. Negative charges occur when more concessions than bills were added for that roo

Your payout is calculated as follows: (Gross Income - New Occupancy Booking Fees) x 8% PadSplit Platform Fee You can access a more detailed report of your payouts in your Host dashboard.  For more inf